Fixer Upper Found – Is it worth fixing or not?

So you have that investment home that you plan on putting on the market in the next two years. You have some ideas that you think would make the home more desirable for prospective buyers. After all, Sally Sue, your best friend, has confirmed that these improvements would make the house much more valuable. After all, Sally Sue must know what improvements the market forces are pushing!

A word of caution: make sure that the market will confirm your beliefs before you open up your checkbook. Better to be safe than sorry, as the old adage goes. The truth is there are no hard and fast rules when it comes to improving your home’s appeal as you put it on the market. Tastes, desires, needs, trends and much more change constantly. What’s hot in real estate this hour may not be the greatest thing the next hour.

Here’s another word of wisdom as you determine whether your fixer upper is worth the fixing for the sake of resale. Each and every decision must be made on its own merits and with the consideration of all the facts in the present market. The best thing to do is to take out pen and paper or your electron device of choice and list these facts. List them in simple statements, three to five word sentences so that you can look at your entire list easily.

Also as you consider these improvements and all the costs (on every level and not just the financial level), look at the other houses in your market area to see if there are other homes that offer the same amenities. Then find out if these same homes moving and at what prices?
The bottom line is that the present market is a buyer’s market which means there are a lot of homes and prices are low so in most cases it is best to make low-cost improvements and take your lumps. Either way, refer to the main question, which is also the topic of this blog: to improve or not to improve? This may be the toughest question you will make. So make it wisely.

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About Stephane Manos

Stephane Manos has developed several online companies. While working as an online entrepreneur, he fell in love with the sales aspect and recruited some of the best clients and affiliates the companies have ever had. The fun, he found was in building the connections and relationships. One of Stephane's top qualities is being able to motivate. He found a passion in motivating others which in return motivated him. Happy colleagues and clients would send word-of-mouth referrals and increase traffic to his online businesses. Teamwork is something that Stephane promotes. The focus is not on self or individuals but in working as a team to reach the same goals. It is his role as a leader to lead the team by example. Currently, his interest is in real estate investments and financial investments. He is now looking into emerging markets such as the Middle East. He also believes some of the better deals can be found in certain parts of the United States. Many distressed buyers are looking to liquidate. Developing new online businesses, purchasing commercial and residential real estate, and developing rentals has led him to travel around the world. Stephane Manos contributes a portion of his time and earnings to charitable associations and philanthropic groups. His charities are: -Children's Telethon -AHEPA brotherhood and Shriners -REVIVRE Bipolar Support Assocation
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