Renovating Your Luxury Boston Condo?May 4, 2013
If you’re planning to renovate your house, to put it on the Boston real estate market or for personal use and satisfaction, you should think through the construction project very carefully.
Assessing Boston Real Estate Value on New Construction
There may be several renovation or remodeling projects that you are thinking of doing, such as opening up walls, adding an extension, updating the bathrooms or kitchen, finishing the basement, among many other home renovation options. However, before spending the money, it is a great idea to talk to a Boston real estate expert who is familiar with the market to see where the money should be spent and make an assessment of cost to value.
Even if you are not thinking of selling your home, you should know to spend your money wisely. You can spend a fortune, only thinking of your needs and taste and expect to get it back when you sell. Personal taste is tailored to individual preference, but it may not meet the demand in the marketplace.
Make sure you have the right advice upfront from your real estate expert and proceed with renovations carefully and thoughtfully. If you’re renovating your luxury Boston condo, do it right or don’t do it at all. Spend your money, expecting to get it back at the time of resale. That’s why it is important to do it right.
I have seen people spend over 200K for a very expensive kitchen that is so taste specific and two years later when they were ready to sell, it turned off many buyers. Granted, any prospective buyer can rip out what they don’t like and start over. But in most cases, the first impression is very important to a homebuyer and they get turned off immediately, since the space is so specific. It’s difficult for them to imagine themselves in the living area.
Interested in which renovations would improve your home value? Contact me to discuss your options.