Avoid the Trap:
What realtors say:
When you don’t maintain your home you are not maintaining its value.
“You can’t lose,” says Mary Johnson, realtor and residential specialist, “bathrooms have changed the most in the last century, today, homes that have updated bathrooms sell faster and fetch a higher price.”
Realtors will tell you that bathrooms and kitchens sell houses. Buyers today want houses that are in move-in-condition, homes with ugly bathrooms take a long time to sell and sell for a discounted price.
What does this mean to a homeowner?
*** This year, like last, the report targets the 35 cities listed as top remodeling markets by the Harvard University Joint Center for Housing Studies. This includes New York. Cost data for the Report come from HomeTech Information Systems, a remodeling estimating software company in Bethesda, Md. HomeTech collects current cost information quarterly from thousands of contractors nationwide. The figures include markup and are adjusted to account for pricing variations in different parts of the country. Resale values are based on the professional judgment of members of the National Association of Realtors (NAR). Surveys containing customized cost-to-construct data for each city, as well as information on median house prices, were sent via e-mail to appraisers, sales agents, and brokers. They responded with dollar figures for each remodeling project that represent the value the completed project. This would add to the selling price of the house under current market conditions.