Remodeling to Sell: Not every improvement pays off

July 26th, 2011

The recent housing crisis flooded the real estate market with  properties. Sellers today are competing with builders desperate to get rid of newly built homes and banks willing to sell foreclosed properties at much less than they are worth as a way to cut their losses.

To make matters worse, a slow economy is causing people to postpone bigger expenses, and the credit crunch made it harder for potential home buyers to qualify for mortgage loans. As a result, there are tons of homes for sale and not nearly enough qualified buyers.

Sellers trying to move the property quicker, and not willing to lose money on the deal, know that they need to make their property appeal to a home buyer. That means investing some money in improvements in order to make the home easier to sell.

However, not every home improvement actually pays off, as this article in the New Hampshire Magazine states:

Building that large sunroom or installing hardwood floors may seem like a great investment, but if your improvements price your house out of its category, you could be in trouble. Joan Whitebook, a buyer’s agent located in Nashua, advises homeowners to instead focus on maintenance and repairs. Bring things up to date, but be conscious of your neighborhood and know what is typical of a home in your market. If you go overboard on upgrades, buyers may not be willing to pay the higher price, especially since they likely won’t be looking for these improvements in the first place. This rings especially true for a property below the $350,000 range.”

Basement waterproofing and finishing, however, remains one of the best investments you can make in your home in this difficult market, especially if you are planning to sell. In a normal market, an unfinished and wet basement is a major deal breaker. In a market with so much competition, it renders your home virtually impossible to sell.

Lets face it: who wants buy a “fixer-upper” when there are so many affordable homes out there in much better condition?

The good news is that finishing your basement with our patented basement finishing system is affordable, and with our flexible payment options, you can do it in your own terms in a way that is comfortable for you. In addition, we offer a transferable warranty at no charge.

Don’t let your basement keep you from selling your home. Contact us for a free estimate.

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