- Published on Friday, 12 October 2012 23:26
- Written by Super User
At Coastwalk Real Estate, our goal is to assist clients in all aspects of their real estate investments.
While buying and selling is the fun (and rewarding) part for us, we often are asked to provide advice on home improvements.
Many home remodeling projects do wonders for the value of the home. Certain upgrades and renovations pay dividends when it comes time to sell, and you often can recoup the money you’ve invested in the upgrade.
There are exceptions, however. And one stands head and shoulders above the rest (or should I say below) when it comes to return on investment:
The home office.
It may seem like a home office would be a boon for your home at sale time, especially considering the number of people who telecommute and work online. But the fact of the matter is, a home office seldom recoups more than 45% of the money invested in the remodel.
Why? Multiple factors.
First, even people who work at home often don’t work at home.
When was the last time you walked into a coffee shop and didn’t see a laptop open? Many people still find space outside the home to work.
Second, a full-on home office renovation often takes up a bedroom which new owners might want to be able to convert back into a bedroom. If you’ve spent the time and money having built-in furniture added, media wiring, and other “office like” details installed, it represents a cost to restore or lost-usage for the new owners.
Of course, if you need a home office and want to have the home office
of your dreams, it might be worth it to you to put the return on investment aside. But don’t undertake the project thinking it will pay off down the line.
Curious which home remodeling projects pay off at the sale? Let’s talk about what you’re considering.
We’d be glad to have a conversation with you about the specific questions you may have about your home if you’re preparing to list it. Please contact Coastwalk Real Estate today: 910-458-9119, and thanks for reading!
Your Real Estate Market Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.
Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the #1 Agent on Pleasure Island since 2006.
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