Can Changes Produce a Good Return When Selling a Home?

Hardwood Flooring

You may be wondering what kinds of changes to make to your home if you’re planning on moving in a few years.  Most realtors will agree that any changes you make should be for your own enjoyment rather than for future profit.  The reasons are simple:

Styles change very rapidly. More than at any other time in history you can’t bank on certain trends staying in style.

A potential buyer may have vastly different tastes than you.  You might be attracted to subway style tiles, for instance, while another finds them tacky.  You might like French country decor, another modern.  Decorate in a way you will enjoy.

Wear and tear.  As soon as something is installed it begins to depreciate.  What changes you make now may look worn in a couple of years.

Up-valuing is deceptive.  That is, you might feel if you get contractor prices and do it yourself you can somehow not only break even on your upgrades but get more money back than you’ve invested.  It doesn’t usually work out that way.

Overdoing a home can work against you.  No matter the upgrades, your home will still be priced in comparison with others in your neighborhood at a similar size.  You might have the nicest one on the street and be able to ask in the top range, but chances are yours won’t be able to compete with larger expensive homes a few blocks away.

Putting in new hardwood floors may make your house more appealing and help it sell faster, but there’s no guarantee you will recoup the cost of the new flooring.

Changes such as redoing old kitchens and bathrooms, rebuilding scrappy-looking decks, revitalizing the landscaping and professionally finishing a basement may bring your home up to a comparable standard to other homes on the market.  Again, unless you are flipping the home for a quick resale, the changes you make should be because you want to make them.  Anything can happen in the market between the time you make changes and the time you are ready to sell.

Tina Fountain is Broker Owner of Tina Fountain Realtors, contact Tina or one of her Atlanta real estate agents at tinafountain.com