Seller common mistake #3
You found this deal on gorgeous hardwood flooring and installed it throughout the first floor. You repainted the interior of the home that beige sort of color you saw in the model home you liked. You changed out the front door to this gorgeous glass and mahogany one you found on sale. In addition, you visited the open houses for homes in your neighborhood or went on the internet to check out your competition and concluded, you have no competition. Your home is waaaaay better than anything out there.
Does this sound familiar? You are in danger of possibly overestimating the value of your home based on the improvements that you liked and installed. It is quite a challenge to look at things objectively when it is your home. Your home feels and looks just like the model home so surely it is worth more. Isn't it?
Some improvements do add value to the home; generally upgrading the kitchens and the bathrooms, adding square footage ,and bringing your home up to the standards of the other homes on the market in your area comes readily to mind. While other improvements may not add value; upgrading the fans, replacing the fence or other appliances, but they make the property more appealing to the Buyers in the marketplace. The internet is your friend, so look for sites like www.remodeling.hw.net and others to give you clues.
Pools: If a private pool is not a common thing in your neighborhood, it could be a negative. If it is very common to have a private pool in your neighborhood and you don't have one, that can also be a negative.
So when deciding to improve, do your research. It may come down to simply wanting the improvement because you want it and you don't care if there isn't a return. In that case do it and enjoy your home but when it comes time to sell, heed the advise of your Realtor. Price it right and move on.