They say there is no better investment than in bricks and mortar, and year after year that sentiment is proven, while there are occasional dips in house prices, overall investing in property is one of the safety forms of investment out there. If you don’t have the budget to invest in a whole house, then investing in your current one can also create value.
One of the fundamental errors that people make when trying to increase the value of their home before selling it is spending too much compared to the increase in value that it will create, homes are a big part of our lives and we have some emotional attachment to them, so making them look as nice as we possibly can and often overpaying is a common pitfall that people make, even when the decision has been made to move on.
Luckily there are plenty of relatively simple and affordable things that we can do to our homes that we can be fairly confident will increase the value, without breaking the bank. So when you’re ready to move up to the next price bracket and you need to squeeze a little more out of the house you’re selling then think of it like a business decision of simple return on investment, otherwise costs can easily spiral out of control.
And while the advice for adding value is fairly standard, ensuring your home is smart-ready and even investing in a few smart devices that potential buyers will see around the house is a great way to increase the perceived value of your home.
So check out this new infographic put together by Florida Realtors Florida House Sale that gives an idea of how much particular improvements might cost, and the possible ROI that you will see from doing them:
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.