Remodeling and updating Santa Cruz real estate makes a lot of sense in today’s market. Even if you’re planning on staying in your home for years to come, don’t make the mistake of spending your home improvement dollars unwisely. You never know when something like illness, unemployment or a job opportunity in another city may force you to sell.
You don’t want to sink a lot of money into expensive upgrades or additions that you won’t recoup when it’s time to sell. So here are five tips to make sure your investment makes good financial sense.
1. Keep pace with the neighbors, but don’t pass them. Any real estate expert will tell you that it’s hard to get the maximum value out of a home when it’s the nicest one in the neighborhood.
2. Remodel instead of adding on. Before you spend the cash on an expensive addition, consider reconfiguring your current space to suit your needs. Removing walls can open up and modernize the look and feel of your home without the huge price tag.
3. Don’t overlook maintenance and repairs. Replacing appliances, redoing a roof or changing out old windows can be very attractive to smart buyers — and will save you from surprises when it comes time for an inspection.
4. Be smart with technology upgrades. That theater room you’ve always wanted may seem like a no-brainer. However, technology changes so quickly; make sure you’re not spending big bucks on equipment that will quickly be out of date.
5. Avoid over-personalization. A humidity-controlled wine cellar or a completely outfitted home library may make sense in high-end neighborhoods. However, if you’re in a more modest neighborhood, don’t spend a lot of money on features unlikely to appeal to buyers in your price range.
Don’t get carried away with remodeling fantasies. Make smart decisions that pay off when it comes time to sell your Santa Cruz real estate.
If you’d like more cost-effective tips on home upgrades, please call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com for more information.
For additional real estate information, please visit my home page at www.MySanta CruzRealEstate.com.