Thursday, June 21, 2012



Be careful when making improvements to your home. It is better not to over improve.

During a listing appointment, I generally ask for a list of improvements that were made since the home was originally purchased. It is an important factor when determining an estimate of value.  At times, Sellers will let me know exactly how much they paid for certain improvements. Some Sellers expect the total investment on that improvement to be added to the home's market value.  Unfortunately, what a person pays for an improvement may not add the exact same amount on to the value of the home. There is a saying in the appraisal industry that applies here:

          Cost does not always equal market value”

Go easy on what you spend for an improvement. Try to keep the costs reasonable because your investment may not give you the return you expected when selling.

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