Have you ever thought of remodeling your home? It might seem tempting – having your home refreshed, and maybe add some value to it in case of a future sale? Well, if your main reason for doing a remodel is having a new look and making your home more appealing for yourself and your family, then it is a worthwhile endeavor, but when it comes to improving a possible sale price for your home, then you might want to think again. Statistics show that most remodels actually won’t give you back the money that you spent on it. Part of the reason for this is that everyone has different tastes, meaning that what you think is an improvement in the look of your home, might not be the same for someone else.
Repairs on the other hand are going to give you a better return on your investment. If a potential buyer sees something defective or damaged when they tour your home, they are not going to let it pass by. Instead, they might put a clause that it needs to be repaired before the sale, causing you to rush a repair which usually can be quite costly, or they might negotiate for a lower price in the sale.