Renovating in order to increase the value of your home before selling is a huge gamble. It depends mostly on the state of the market at the time of selling. It also depends on how your house sits in the neighborhood on value and quality.
If you do renovate, your tastes are reflected in the renovations. This turns out bad more times than not and converts the house into a brick lemon. No one will touch it. The renovations work against the appeal of the home, regardless of other features. So be very careful when renovating your home to get it ready to sell. Allow a professional choice the taste to apply to the renovations. Bite your tongue and hold it.
Another factor that could tell you not to renovate is your house’s comparison to other homes in the neighborhood. If houses there sell for millions and you own a humble home, no renovations you could afford would convert your home into a multi-million dollar gem. Just give up on that dream right now, because it ain’t gonna happen! Even making an extra $100,000 – $200,000 from renovations is a big gamble. People may still see your house exactly as they would have pre-renovation.
If you like the risk, then go ahead and give it a shot. Just make sure it is flamboyant, but tasty. Don’t complain to anyone, though, if it flops. The responsibility of this choice rests on your shoulders and you should do all the research you can beforehand.
Article by Furniture Your Way.net
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