2013 is a good year for selling your Atlanta home. From March to April, home prices went up by 3.8 percent and in May it went up again by 3.4 percent. Compared to last year, the latest figures from July show a rise of 20.1 percent in value for homes in metro Atlanta, according to the S&P/Case-Shiller Home Price indices; this is good news for metro Atlanta. San Francisco, Las Vegas, and Phoenix are the other cities that gained values above 20 percent within a year.
If you’re not going to put your house on the market yet, that makes perfect sense; experts predict another surge in property values. It might be wiser to hold on to your house for the next few years and wait until the market reaches more stable levels. Such a time is good for an Atlanta remodeling project; Alex Veiga, from Associated Press, however, aks homeowners to “invest in renovations that could boost the value of their homes even more in a rising market.”
When undertaking a home improvement project with Atlanta’s most trusted home remodeling contractors such as 5th Generation, think primarily about how your family can get the most out of an improved living space. Afterward, see if such replacements can add value to your home. You might soon decide to resell it.
Upgrades as Liabilities
Fitting in a swimming pool somewhere in your backyard might not be the wisest home improvement project if you plan to sell your home 5, 10, even 20 years from now on. Why? First of all, it is a very expensive project, making ROI very unlikely to be on the positive. Many prospective home buyers might not want the extra maintenance costs that owning a swimming pool brings about, thus making the addition a deal breaker instead of a deal sealer. Adding decks or landscaping make homes look more livable and adds a lot to a home’s curb appeal, so consider these instead.
When you upgrade a new kitchen, focus on making it more functional than on making it more beautiful. Veiga warns that fancy finishes, lighting, and floors give the same function as their regular counterparts. Thus a buyer can get the same home cheaper, albeit with inferior finishes, they would (for the moment) opt for it.
Veiga suggests more practical renovations: fix what’s broken! Convert the attic into an additional bedroom. Give your home practical, instead of merely cosmetic, upgrades. Exteriors such as doors, sidings, and roofing, however, are an exception; even if such renovations are done to enhance a home’s appearance, home buyers love a home that makes a good first impression.
If you don’t plan on selling your home soon, go ahead and give your house your dream Marietta remodeling job. In the long run, prices are going to go up anyway and whatever improvement you did would have already been enjoyed by your family for 10 years or so.