Is it finally the right time to sell your home?
As house prices saw their biggest annual gain in five years, homeowners have been asking this question. “underwater”Even though interest rates are low, homeowners can still make payments on their mortgages. The catch is that buyers can become as picky about their mortgages as Michelin restaurant reviewers.
“A house with a $1,600 mortgage payment last year now has a $2,000 mortgage payment,”According to one broker, the Wall Street Journal. “Buyers are saying, ‘I better like it.'”
To improve the value of your home “like”quotient, continue reading to find out which upgrades are worthwhile and which aren’t.
Worth it: A new front entrance. The steel front door topped Remodeling magazine’s 2014 Cost vs. Value Report. This report shows that it returned 96.6 percent on average price. However, a new coat of paint could work wonders.
Not worth it: Remodeling your home office. We get what you’re thinking. It would be great to have a home-office remodel with more people working at home. But it’s not. According to the man who supervised the study, the magazine received a 48.9% return on investment. “Home offices don’t sell houses.”
Worth It: A back-up power generator. This is the largest gainer in the study, rising 28 percent over the previous year. It works especially well in areas where storms are frequent.
It’s not worth it: Major bathroom remodeling. “You could install the most spectacular jetted tub, and it still might not suit a buyer,”Patsy O’Neill (a Sotheby’s sales associate in Montclair, NJ) said this. “Meanwhile, you’d have spent tens of thousands of dollars.”This is why it was included on Bankrate.com’s Top 100 Lists. “6 Worst Home Fixes for the Money”And why you should keep it simple, such as re-grouting your shower.
It is worth it Roofing replacement. There is a reason why this ultimate “curb appeal”Enhancer consistently ranks on Remodeling’s Top 10 Lists and is up by 11.2 percent over last year. Prospective buyers first notice a roof before they even get out of their cars. If your roof looks worn, you can say goodbye to that sale.
“It’s a huge turn-off,” says O’Neill, “and makes buyers predisposed to find even more things they don’t like.”GAF offers the Value Collection Lifetime Designer Shingles for a luxurious look at an affordable price.www.gaf.comNorth America’s largest roof manufacturer,.
Not worth it: Major kitchen remodels. The key word here is “major,”It’s again a “taste”Issue
