More than ever; now is the time you need to know the truth about real estate.
I hope you are not getting the truth about real estate value from the shows you see on TV, your friends at wherever you spend your spare time or your so-called expert friends at work. Please take advice from someone who sells houses for a living and MUST know home values.
Does it add or detract from value?
The truth about real estate value is that adding decorative touches like at spiral stairs will not increase your home value. The Truth about Real Estate value is that it might allow you to walk to a different level and it might even allow you to refinance your home, since the stairs may be the finishing touches to a completely finished home. But never think for a minute that the stairs in your home will increase the value of your home. In fact, the The Truth about Real Estate value is that the things you add to your home for your enjoyment may, in fact, be a detractor for other home buyers.
The truth about real estate value is that adding any type of a swimming pool (with extremely rare exceptions in Oklahoma) will never increase value. This is a shocker for those who spend 30K or more on a new pool. Remember, what you add for your enjoyment does not necessarily add value. I define increasing value as a positive amount of money that is given back to you after you sell your home. First of all, above ground pools are given no value for the purposes of the appraisal because these are considered temporary structures. If you put in an in-ground swimming pool, it will automatically cost you a lot of money to install and a lot of money to maintain. 9 times out of 10, this will not add value to your home. It may be difficult to sell your home, as a swimming pool may limit the number of buyers that want to maintain the swimming pool.
The truth about real estate value is that adding an awning or anything like an awning. An awning will add nothing to the value of your home. Do you think you’ll get more money for your home because of your awning? Not likely. Install awnings, carports, outdoor barbeques, extra outdoor stairs, children’s play areas and pay structures, and garden sheds because you need them and want them because they will never increase the value of your home. Remember, your enjoyment versus adding value, BIG difference!!!
The truth about real estate value is that installing landscaping. I don’t care what the studies say. The first thing I would do is find out who wrote the article and how they define value. If you spend a your money, or worse, go deeper into debt, on landscaping, thinking that you’ll get it all back when you sell, think again. Most appraisers will not even adjust in a good way for landscaping, unless you have weeds and dirt and all of the homes in neighborhood have basic grass and trees. There are about ten important criteria that make up an appraisal and probably about 30 more that appraisers don’t even analyze. If you go overboard on landscaping, you leave money on the table when you sell your home. The truth about real estate value is that almost everything on my list can ONLY detract, NEVER adds value.
The truth hurts, I know. The Truth about Real Estate value by yours truly.