10 years old with only 12,000 miles doesn’t quite work in the real estate market – old is old!

old house

Anyone who is planning to put their home on the market would be very wise to spend some time first looking at their competition.  Any resale home in Metro Atlanta is more than likely competing with a new home.  Even in areas that seem to be “built out” we are seeing older homes being bought, scraped off the land and a brand new home constructed.

We  also have homes in almost every price range.  If you are selling your 5, 10 or even 25 year old home you can find a new home in our area somewhere being built. Go and look at it.  Remember the white kitchens that were so popular?  They are not so easy to sell today.  There was a time when having carpet in every room was quite luxurious, today we are back to hardwood floors.

The point of this article is to remember with each improvement you make there is no guarantee that you will recover that investment when it comes time to sell.   We have sold houses with swimming pools that owners probably borrowed money to build.  The new owners filled the pool in!  They like the house but never wanted a pool and they certainly weren’t prepared to pay for it.

People who have taken excellent care of their homes have every right to be proud of their homes.  Their neighbors are probably delighted to have them living next door.  The homeowner who maintains their home in excellent condition gets good value for his effort because that home takes very good care of him as well.  No leaks in the roof or plumbing, the HVAC is cool in summer and warm in winter are important aspects of our lives.  But just because you have done that don’t expect someone else to pay you for having done what every homeowner should do: be conscientious about maintaining what is usually your largest single asset.

When interest rates were higher the rule of thumb before you refinanced was to determine how long you were planning to stay in that house.  The same principal applies to home improvements.  If you really love outside and enjoy entertaining then you may be one of those people who would get every penny’s worth of building one of those outside kitchens and terrace entertainment areas.  If you need to paint the inside of the house, or remove wallpaper, spend some time looking at the new home market to see what is fresh and exciting.

Our homes are our sanctuaries.  Like Dorothy said, “there’s no place like home”.

noelle photo

By Noelle Stewart a Stewart Sister

 

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