Value vs. Cost

If you spent $15,000 for a new deck in May, then listed your house in July, did the value of your home go up by $15,000?  $10,000? 

If you were a FSBO selling your own home for $300,000 then listed with a broker for a 6% fee, would you raise the price to $320,000?

What or who determines the value?  Isn’t it the pool of buyers who determines value?  What a homeseller wants and the reality of what they get do not always equal.  Here are some of the best returns on investment a seller can make, in my opinion:

1. Paint. Use neutral colors.

2. Declutter.

3. General landscaping, keeping lawn neat and trim, free of weeds and fertilized.

4. New carpet.

5. New kitchen flooring and counters (as needed).

Value is in the eyes of the beholder. Personally, I would love a bar near a flat screen TV.  My Mom, however, would find no value in that.

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