One of the questions most often asked Realtors...or at least these two in Southeastern Wisconsin....is ..."IF we replace, add on ..update the (fill in the blank) will we "get the money back in re-sale" ?
There are all kinds of statistics that many self serving industries broadcast...if you upgrade your _________you will increase your home's value by $$$$$$.
We need not remind the professionals in our industry that no percentage can be applied to every home in every market for every improvement, upgrade, etc. REAL ESTATE IS LOCAL !!!
IF you upgrade this...add that...
"will you get it back ?" One of the primary factors in determining the price of a house is condition. Condition means not just are the mechanical aspects of the house in operating order...it also means "what are the up/grades/dates ?"
There are things that need to be done to a home just to "stay even" with the market....down goes the wallpaper...carpet may need replacing...hardwood may need refinishing, Seasonal clothing and decorations find a new, more organized place and storage space "appears" where there was once clutter.
NOW may be the time to take a look at that landscaping...in states with harsh winters....you may have bushes or trees that did not survive....the beds surrounding the house need more/new stone...the mailbox is the "original" one and it's time to replace it. It's hard to have an objective eye when you live in your home every day....if you have an eye to selling...ask an experienced, professional real estate agent for a room by room list of what you can do to help you get the "highest and best" offers when it comes time to list your home. The end result may be a longer list than you imagined...some things may have to take a financial priority....but in the end, you have a list that can be set to a time/budget table that will help you achieve your goal.
Will your improvements bring you a higher price ? The question is higher than.....Than the neighbors, the price you had in mind...Than ? Prices vary by market...AND they will also vary by when you choose to list your home. If you have a 3, 6 or 9 month plan...the market may well have shifted from Seller to Buyer ...the comps changed...No agent will be able to forecast a list price when the sale date in months away. What they CAN tell you is what things will help you the most...be the very best you can do to achieve your highest and best return on your real estate investment. Developing the list and tackling it with a timetable rather than all at once is less stressful and in the end, more gets accomplished with a better outcome.
Right now you may not care about the Jones, McDonald, Stein families and their homes...you will have a different outlook when they become competitors for the purchase dollar of your home.
If you want agents who will give you that "Pre-Sale" analysis....who have the resources to have reliable contractors give you pricing ...who have an objective eye as they view your property in the southeastern counties of Waukesha, Milwaukee, Walworth, Racine, Kenosha, Ozaukee, Washington and Jefferson counties ...call the Hansons, we are honored to be of service for all things real estate.