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Everybody’s favorite topic in real estate is, of course, making money. But do you know how? Do you know where to spend and where to invest to ensure that you actually get a return on your home?
A lot of people start by thinking about remodeling the kitchen. There’s potential to make money but be careful, because you can really overdo it quite easily. We’re seeing about a 65% return on your money when investing in a kitchen. If you spend $10,000 and you go to sell, you could be leaving about $4,000 off the table that you’re not going to get back. Swimming pools are even worse - most appraisers will give about $1,500 in value on a pool that cost around $50,000. It’s one of the worst investments you can make in the Triad.
Fencing is a good plan if it’s done professionally.
We’ve got an entire list of ways to invest smart money in your home. The smartest way is to do it right; put in a nice, sizable down payment, don’t buy more than you can afford, and pay extra on that mortgage to get out of debt as soon as possible.
To get our list of smart money home investments, send us an email and we’d be happy to send it to you.
