Just Because Major Home Renovations Are Possible Does Not Mean They Are Advisable


Just Because Major Home Renovations Are Possible Does Not Mean They Are Advisable
By Scott Rogers • September 14, 2018
Sometimes you'll see a house that doesn't really work for you -- BUT -- it COULD -- with some major renovations. Maybe that's building an addition, adding a garage, tearing out some interior walls to make larger rooms, etc. Often, you'll determine that these renovations are possible -- but it is my opinion that they are not always advisable. A HOUSE JUST FOR YOU -- You should enjoy the home you live in, and make it your own, however a buyer can go overboard here. If you make major renovations to a home that makes it work ONLY for you -- then later when you try to sell, you may find it to be a challenge if your renovations made it work ideally for you -- and extraordinarily less than ideally for every other possible future owner of the home. OVER-BUILDING FOR THE NEIGHBORHOOD -- If you're buying a home in a neighborhood where homes usually sell for $250K, and you are likely to spend $230K because the house you are purchasing needs work, and then you spend $130K on fixing it up and making it work well for you -- all of a sudden you have a $360K home to try to sell in the future, surrounded by $250K homes. So -- by all means, consider making changes or improvements to the house that you purchase -- but keep in mind the big picture related to eventually selling the house as well. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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