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.
Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.
Read MoreToday, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow: “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.”
Read MoreWith more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving home ownership needs.
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