May 23, 2012
Six worst fixes for the money
23 May 2012
Posted by Andrew Kantor
Looking to help a seller — maybe put a bit of money into some improvements to raise the sale price? Bankrate.com has a list of six that you should cross off your list. (Although, to be frank, I don’t expect many of these to be on your list in the first place.)
Of course, as a homeowner (not seller), you may want some of these, and that’s AOK. Just don’t install them thinking you’ll get it back when you sell.
- Home office remodel (people prefer multi-purpose rooms, not dedicated offices)
- Backup power generator (expensive; many buyers won’t appreciate the need or will think it bodes ill for the neighborhood)
- Sunroom addition (expect to recoup less than half the investment; but might be good if the house lacks a common room)
- Upscale master suite addition (expect to recoup about 53%, and buyers might find a home where the same thing isn’t an addition)
- Bathroom addition (typical cost is $22K, and buyers are likely to balk on the additional price)
- Upscale garage addition (typical cost: $90K+, with only a 53% recoup rate)
Instead, spend the money and time fixing more important things: Replace old fixtures, rent a storage unit to reduce clutter, strip wallpaper and repaint, get the lawn looking good, hire a cleaning service… you get the idea.
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