Monday, December 29, 2008
Resale Value Resolutions Revisited
New Years Eve in New York City's Times Square, Photo by Amelungc
Last December, the world was a different place, and many people were concerned with doing the right home renovations that would pay off in resale value. Fast forward 12 months and now the bigger concern in December of 2008 is being able to afford the home, period!
Looking at the specific resale value resolutions from last year, we'd say that only 3 are still important for this environment...
Resale Resolutions for 2009
- I will revamp my wood or marble floors through screening and polishing, rather than tear them out to start over. While new floors are an important selling point, floors that look “as good as new” are equally coveted.
- I will not waste time with projects that do not add much value or are not necessities. I will heed the research that shows that new windows, while possibly more energy efficient, add very little to the price of my home. The same goes for central A/C, which while infinitely more convenient, is very rarely recouped in a sale. A new swimming pool may keep my friends around this summer, but will certainly not increase my home’s sale price, and may even be a liability.
- I will acknowledge that, in terms of resale value, nothing is more important than my kitchens and bathrooms. I will not ignore the power of adding new appliances to my kitchen and I will no longer put off that re-glazing and re-grouting project in the master bath.
Re-grouting a tile floor or spending a few hundred bucks to clean up a wood floor are jobs that are both practical in times like these, yet they also can may a big difference in both your own eyes and those of a prospective buyer.
Getting these little things done should be the priority if your home is on the market in New York or you plan to put it up in 2009. Find a cityhammer member to help with the job here:
New York Remodeling Companies