So....I have a lender guru friend that has a package deal for larger home purchases. As prices continue to raise, it only benefits to educate yourself on some or all of the options. Most
Home Improvements That Are Not Profitable
A fresh coat of paint, polished cabinets, and beautiful landscaping can get you a higher price for your home. However, do not try to overdo things.
Every home improvement project is not profitable. In fact, most home renovations do not pay off. Here is a list of home improvements that do not increase your home’s value.
Replacement of Essential Systems
Customers expect that the plumbing system, HVAC, and electric systems will be in a working condition. They do not expect to pay a high fee for the basic functionality. While you should ensure that these systems are functional; do not expect to get a high return on their cost.
People love luxury homes, but it appears they are not willing to spend extra money on this feature. Extensive kitchen/bath remodeling never pays off. While minor remodeling might give you a return of 70%-80%; high-end remodeling will only get you a return of 40%-50%.
Having a swimming pool at your friend’s house is nice. However, it is a challenge to maintain a pool in your home. Families with young children often avoid buying such properties. It is best not to install a swimming pool in your house if you are planning to sell your home later.
High-end remodeling is not an investment. Furthermore, people do not want to spend $250,000 when every other home in the neighborhood is worth $150,000. Make sure to do a price analysis before you start renovating your house.
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What is an escalation clause?It's Buyer 1 saying I will pay X amount of dollars above your highest offer. Buyer 2 is at 250kBuyer 3 is 255kMeans at the end of the negotiations we are paying X