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2012-06-13 09:18:23
Top 10 Home Improvement Myths


 
Not all home improvements are
created equal. Even in a seller’s market, it’s important that homeowners make
the right investments that will yield higher returns. As you guide your clients
toward a profitable sale, make sure you’re an expert on the top 10 home
improvement myths so you can prevent your clients from believing them.

Father’s Day is next week, and Dad
is sure to get a few tools or gift certificates to a home improvement store
that he’ll be itching to use, so make sure your clients are in-the-know before
then!

 

1. Any remodeling project will add
value to your home.

While many remodeling projects will add value to a home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit one homeowner’s lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms.

2. Buying the highest-quality
materials attracts more buyers.

Installing high-end materials may
seem like a wise decision, but it can backfire. For instance, using the most
expensive tile in a bathroom may create an impressive appearance, but
value-conscious buyers may opt for a more affordable home if the seller has
over-improved compared to others in the neighborhood.

3. Adding square footage always adds
value.

A better way to think about this
statement is to insert the word useable into the sentence. Finished
attics and basements – even if considered liveable by local standards – may not
be attractive to a buyer if they are not finished to the same standards as the
rest of the home.

4. Colors and textures – safe and
simple is better.

Keeping a home “vanilla” so buyers
can choose their own style and décor might be a safe bet, but it ignores the
fact that most buyers just don’t have the ability to visualize the home
differently. Without splashes of color and mixtures of texture, sellers can
lose value to others that have taken the time to consult with an interior
designer.

5. Inside improvements are better
than outside improvements.

Not necessarily. If a home’s exterior
has been neglected or doesn’t offer a good curb appeal, a buyer might stop
there – and then the seller’s efforts on on the inside may not net them any
more dollars. To get the biggest bang for their remodeling buck, sellers should
start from the outside and work their way in.

6. Adding a bedroom is better than
adding a bathroom.

It depends on the starting point. If
a seller only has one or two bedrooms to start with, adding a bedroom before
adding a second bath is probably a wise choice since most buyers are more
attracted to three-bedroom homes. On the other hand, if the home already has
three bedrooms and only one bath, the sellers’s next investment should probably
be in a new bathroom.

7. Paint hides a multitude of sins.

Dry rot? Fungus damage? Mold problems?
Carpenter ants? Termite issues? Nothing a can of paint can’t fix, right? Wrong!
Not only does this practice violate disclosure laws in most states, it can set
sellers up for liability after the sale, as most buyers will want the sellers
to foot the bill for these hidden issues.

8. Converting a garage to living
space is a great trade-off.

Nope. A garage conversion is almost
always viewed negatively by future home buyers unless the sellers replace the
lost garage with another parking and storage space of equal size.

9. Sellers can save money by doing
improvements themselves.

For some homeowners, wiring a new
lighting fixture or plumbing a new dishwasher is a no-brainer, but for others
it may end up costing more later if they have to have the work redone by a
professional. Another consideration is local and state laws regarding
remodeling work: In many states if a buyer has purchased a home to remodel and
resell, they must either hold a contractor’s license or hire a contractor to do
the work for them.

10. Pools add value to your home.

This is only true in areas where
pools are must-have amenities. In most areas of the country, pools have more
limited appeal – and the idea of maintaining a pool for ten months out of the
year when it can’t be enjoyed won’t appeal to most buyers.

Knowing these top home-improvement
myths will allow you to help your seller clients choose the right remodeling
projects. But don’t stop there. To keep your pulse on the amenities that are
coveted most in your market, talk to local remodeling professionals,
contractors, and home-improvement specialists on a regular basis.

(Article from Trulia)

Urgent Notice to Private HomeSellers.

http://www.realtyreports.biz/2049/fsite

  

Know The Facts Before You Sell.

http://www.realtyreports.biz/2049/hs

 

Know The Facts Before You Buy.

http://www.realtyreports.biz/2049/hb

 

 
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