Article: Home Improvement ? Don?t Exceed Comps In Your Area
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Home Improvement ? Don?t Exceed Comps In Your Area
For most homeowners, the pride of ownership includes a consistent home improvement effort. While this makes sense, be careful you don?t improve the property so much that you can?t recover the costs when it is sold.
Home Improvement
You?ve picked up a heck of a deal on a home in a nice neighborhood. The purchase price was $200,000 and you put twenty five percent down [$50,000]. The comparable homes, ?comps?, in the neighborhood appraised for $300,000. Yes, your home is a bit run down, but that?s why they have Home Depot and weekends! You?ll just fix the ugly ducking up and pocket a quick $100,000 in equity when all your projects are done. What a country!
This situation definitely has potential. The value of the home is so low when compared to the...
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