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Spruce Up to Sell?
You would really love a pool to lounge by—but after installation costs, maintenance fees and floaties are factored in, you will end up spending some major dough. You justify your decision by determining that this is an investment, and it will actually help you rake in more money when you finally sell your home.
But it’s not true, so forget adding an extra bathroom or going crazy over landscaping your spectacular front lawn. While lavish customization may have contributed an extra 90 cents a dollar during the early 2000s, don’t expect it to happen today. The simple changes have a better chance of helping you out: like replacing windows, touching up the exterior of the house or repainting rooms.
Plus, consider that individuals often need to take out a loan start their remodeling plans. For unnecessary adjustments, it’s usually not worth investing money that isn’t even yours. Focus on improving the best parts of your home that catch attention, by trimming the huge trees that your house is nestled in between, showing that it’s been a part of the neighborhood for years. Or delicately frame your new windows with classy shutters or put in a new front door.
What you should remodel is mostly do-it-yourself, which saves money on labor. Remember, spending more money won’t always make you more money. What is the selling point of your home and do you think it needs to be improved? [Wall Street Journal]