Costly Fixes That Aren’t Worth It
When your house doesn’t sell, your immediate response could be to investigate any potential faults in your home. Aspects that you once loved, like a rustic bathroom or a kitchen with stone countertops, might be bringing down your home’s value. And while your impulse may be to remodel, that solution might not be worth it. Keep in mind that no matter the condition, we buy houses for cash in Raleigh, NC.
Good for the Environment, Not for Your Bank Account
It seems like homeowners have to stay up on emerging technology if they want their homes to remain competitive on the market. Much of this technology focuses on reducing the energy needs of a home. Examples would be energy-efficient water heaters, windows, and insulation. But these upgrades don’t come cheap. Water heaters account for a whopping 16 percent of a home’s energy use, and replacing an aging unit could cost nearly $3,000. Heat can be lost through improperly fitted and aging windows, but installing replacements throughout your home can cost anywhere from $8,000 to $24,000.
Updating the Heart of the Home
An updated kitchen is among the most sought after features that homebuyers look for. But with updates, there comes costs, and it’s going to run you thousands of dollars to replace old kitchen appliances with new, stainless steel counterparts. This cost only skyrockets when you go for a complete remodel, tearing everything down to apply fresh paint and install new cabinets and countertops.
Don’t Make More House
When you can’t sell your house, surely the solution isn’t to make more house. Making your house bigger or knocking down walls to make an open floor plan could potentially raise the value of your home, but it might not be enough to offset the costs of the changes. Many homeowners also attempt to remodel certain rooms, such as a basement or attic, to make them into more liveable areas. However, remodeling these rooms will cost tens of thousands of dollars.
It Doesn’t Add up
Were you to complete all of the above alterations, it would only increase the value of your home by a marginal percentage. And remember, just because your home is more valuable, it doesn’t mean it’s going to sell. If you are looking to sell your home, you should do just that. Don’t burn tens of thousands of dollars when so much more can be gained. We pay cash for homes in any condition, and that includes yours.
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