FIXING YOUR HOME

Solution

Homeowners will weigh the cost of proposed improvements against the home's market value after the repairs or upgrades are completed. If an upgrade won't return that investment, it might not be warranted. Before you decide to lift the roof and install skylights in the master suite, realize that upgrading the kitchen and your bathroom will carry the highest return.

Before deciding to make repairs, take time to tour other homes in your neighborhood. Note the condition and amenities in those homes. Compare these homes to yours. If, for example, most of the homes on the market have upgraded kitchens, you should concentrate on fixing the kitchen and so on

This doesn't mean you need to buy designer appliances and tear out those cabinets. But a minor kitchen remodel might be a good investment. Sometimes, a fresh coat of paint on the cabinets and new hardware can give your kitchen an all-new look.

Some perspective buyers want to buy a fixer upper home, but generally these buyers want a home that will require light cosmetic repairs. Other buyers who gravitate toward fixers uppers are those who either don't qualify to buy a more expensive home or those who want to make a profit by fixing these properties by themselves.