As a Main Line Realtor®, I am often asked not just about buying or selling a home, but about the best way to add value to a home. Often, a past client will contact me before a renovation project to ask specific questions such as : “Will a family room addition be something a buyer down the road will pay a lot for?” Or “Do I need a tub on the second floor?” Remodeling magazine’s Cost vs. Value Report is a good resource for the best investments for home projects. And I always tell clients not to renovate to the point that their house is the most expensive one in the neighborhood and to consider what joy they will gain from a particular renovation that might make it worthwhile despite the monetary return. If they have always wanted a back porch, why not add one unless they will be moving in the very near future.
There is no doubt about it – there’s a comfort in staying in a home you’ve lived in for many years instead of moving to a totally new or unfamiliar environment. There is, however, new information that suggests this might not be the best option for everyone. The familiarity of your current home is the pro of aging in place, but the potential financial drawbacks to remodeling or renovating might actually be more costly than the long-term benefits
Read MoreWhich month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not anymore. According to new research, January 2019 was only 1% behind February for the most monthly views per listing on realtor.com.
Read MoreI recently closed four deals involving 2 sets of clients—each couple sold their existing home and bought a new one on the same day. You would think that is the norm in my business here on the Main Line, but there are often reasons why this does not happen.
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