BECOMING A GRANDMOTHER HAS SOME SIMILARITIES TO FINDING THE PERFECT HOUSE!

WHICH AMENITIES ADD VALUE FOR RESALE, AND WHICH DO NOT?

When adding amenities to your existing home, there are two type. Ones that add value that you will recoup at resale and ones that do not. I always tell clients there are just some amenities that you should be sure to get your “value” from the use of these amenities.

First, let’s talk about additions that will usually bring dollar for dollar on resale. These include adding living area, updating a kitchen, updating a bath, adding a simple patio, porch or wood deck, and that’s about it.

Although, these are not the amenities most of us like to add. We like to add pools, cabanas, elaborate patios, outdoor kitchens, and guest houses. These are the amenities that you should consider how much you will use them and make sure you can get the “value from the use”. They make our lives more enjoyable, but a typical buyer is not willing to pay the cost of these items on the purchase. The typical buyer is willing to pay a little more for these items, but on average it’s usually 50-75% of the actual costs of construction.

So when you’re thinking about adding that $100,000 pool with $20,000 outdoor kitchen and $75,000 guest house, make sure you will get your use out of it before you decide to sell.