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.
The pandemic has altered our lives over the past year, and homeowners’ choice in furnishings and remodeling is reflecting that. Once timely features are losing popularity, while features once considered trendy may be here to stay. While open floor plans have been consistently popular over the years, Tim Bakke, director of publishing at The Plan Collection, said since the start of the pandemic, there has been an increase in more dividers in homes.
Read MoreThere are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has always been the first rung on the ladder that leads to forming household wealth.
Read MoreDeciding to put your house on the real estate market means a change in mindset from what is your home to what is a product. To maximize your investment, you need to do things you might not realize or want. The most important consideration when preparing your home for sale is selecting the changes having the least cost with the most benefit.
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