Would you like to make more money when you are selling your home? Your instinctive thought might be that you should remodel your home to make it more attractive to a potential buyer? While this idea is pushed frequently on remodeling TV shows, is it actually a wise investment? Statistics say no. From historical data, you will actually only recoup between 50%-80% of the money that you spent on a remodel in an increased sale price. So, this means that you will actually lose money when everything is added up, and on top of that, you won’t get to enjoy the remodeled home.
A wiser investment is something simple, such as some minor landscaping and painting. Usually, these things will prove to be profitable in a sale, since they don’t have to cost a lot, but still can add a lot of appeal to a home. Let the new owners remodel the home to their taste instead.