Colorado Real Estate Can Have Increased Value with Upgrades
There are a lot of articles about the “dos and don’ts” of upgrades prior to putting a home up for sale. These articles warn about the tendency towards over improving a property or reducing the profit on the sale by pouring far too much available capital into the home just before selling it.
So, how can you increase the value of your Colorado real estate without overdoing it? There are a few things to consider:
- Warning flags – Be aware that a set of too extensive updates may make a majority of the home seem brand new. While you might love that, a lot of buyers might wonder what is going on. After all, why improve a house to such an extent just to turn around and sell it?
- Landscaping – You may love a yard full of trees and plants, but this is not a wise way to seek to add value to a home. Simply keeping the lawn manicured and tidy and the exterior of the home in good condition is often more than enough to appeal to an interested buyer. Investing in landscaping never boosts the overall sale price of the home.
- New rooms – Instead of pouring funds into your Colorado real estate by adding rooms, why not consider the benefits of simple updates and easy fixes. After all, that out of date tile in the bathroom might be easily remedied with a new shower surround installed directly over the tile. Some easy to install vinyl flooring could complete the update and cost less than a few hundred dollars while increasing the overall value of the home.
Your Colorado real estate is already valuable. Don’t overdo it by pouring money into large improvements when even a few small steps can make a big difference.
Folger, Jean. 6 Things You Think Add Value To Your Home – But Really Don’t. Investopedia. 2013. http://www.investopedia.com/financial-edge/0910/6-things-you-think-add-value-to-your-home—but-really-dont.aspx