Renovations With the Worst ROI
Some of the most popular renovations, such as a kitchen remodel or landscape upgrade, are likely to cost your sellers more than they’ll get back at resale. And a major mistake sellers make when undertaking home improvement is tailoring the project to their own personal tastes without considering potential resale value, Alex Lavrenov, a broker with Warburg Realty in New York, told Forbes.com. Some costly renovations may even hurt your sellers’ chances of attracting offers at all.
When a homeowner remodels, he or she should keep in mind the impact of the work on a potential sale. Amanda Lauren from Forbes.com recently interviewed real estate professionals to highlight remodeling projects that likely won’t add value to a home.