Clients pricing their home can make a critical mistake with what the property value is to them, versus what they can reasonably get for their home on the market. Remind your clients of the following tips as they go about remodeling projects:
1. Pricing- The housing market constantly changes. What your clients may have paid for initially, will most likely not accurately reflect the current pricing of their home based on the upgrades they’ve put in.
2. Money Spent on Repairs Doesn’t Equate to Money Back—If the clients put in money to update the plumbing, that doesn’t mean that they’ll get that money back. Star-Telegram says improvements such as a functional hot and cold water system and AC is a given in any home.
3. Don’t Count on Dollar for Dollar Return: Citing our annual Cost vs. Value report, the Star-Telegram notes that updating a home can add value to it, the amount of recoup value depends on the project. Consult our Cost vs. Value report to give advice to your clients when it comes to adding resale value to their home.
Need more pieces of advice for your clients when it comes to estimating resale value? Click the link below.