Real Estate in Northeast Florida and Around the World

As my friends and customers begin remodeling projects on their homes, I am often asked whether they will get their money back if they sell.  The answer to this is not a simple one.

Typically, owners will not get a dollar for dollar return on home improvements.  However, simple projects such as painting, minor landscaping, providing more organizational features in a home will yield a close a nice return.  The downside to not doing these things is that the competition down the street did - and they will get their house sold faster.

As to major improvement projects, my first question is how long do they intend to stay.  First and foremost, if an improvement is being done that will result in greater satisfaction of the current owners, there is an unrealized gain right there.  The gain holds more value to the current owners the longer it is enjoyed.  However, if you have a modest home, in a modest neighborhood, and improvements are done that would rival the high-dollar, gated and all custom-built community a mile away - don't count on getting much in return for your dollar - although your house will probably sell much quicker than most in the neighborhood!  It gets back to the saying, don't have the least expensive nor the most expensive house in the neighborhood. 

To get a better understanding of what improvements can be done vs. the anticipated return on your investment, see the Cost vs. Value Report in the "Market Data" tab on the right side menu bar.  This information is provided not only for the Northeast Florida area, but for areas all around the country.  But remember, a home improvement project should first satisfy the members of your family, and meet your needs - before anyone else's needs are considered.  Quality of life does not have a price tag.

Drop me a line if you have any questions or need additional information - or just to say hi!  I'd love to hear from you!