These 5 home renovations may be bad investments
Article by Erika Rawes, Wall St. Cheat Sheet, July 12, 2014
“Increasing potential buyer motivation is a primary reason for most renovations. Many homeowners reno their houses so they can enjoy a nicer home now and sell their property for a higher profit later.
A renovation can make almost any house go from shabby to chic. When a home has ugly wallpaper, a 1970s kitchen, or brown shag carpet, it may deter potential buyers from spending hundreds of thousands of dollars of their hard-earned cash on a property where they can’t see potential.
But when that home is gutted and you add some granite counters, travertine tile, hardwood floors, and crown molding, it’s a bit easier for a buyer to picture him or herself living in the updated home.”
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