Are Major Home Improvements Worth Doing?

If you spend enough money in making the property more attractive, you will usually make it easier to find a buyer.

But you need to find middle ground. It makes no sense if the cost of the improvements is too high – often it would be more cost effective to reduce your asking price.

Most major improvements are personal and do not add the value you expect. An example is a swimming pool in a home in Scarborough Brisbane. If you pay $30,000 for a pool, the pool salesperson may tell you this increases the value of your property. But if the buyers in Scarborough don’t want a pool you will not get back what you paid.

Most improvements often return only half their cost upon sale.

You may have to wait years to find a buyer with the same personal taste as you.

If your property needs major renovation, it may be better to avoid the expense of renovation and instead select a lower asking price.

Many buyers want to renovate a property to suit their own taste. While minor improvements can give you a great return on your selling price, major improvements are often a big mistake.

Major improvements are projects that require careful thought. Unless you are a property speculator either spend a little bit of money to sell your property, or spend a lot of money and stay there.

Gary Pittard

Sell your home for more in Brisbane

This article is adapted from the seller booklet, How To Get the HIGHEST PRICE for Your Property. To have a complimentary copy home delivered, please contact us here.

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Are Major Home Improvements Worth Doing?