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- Most homebuyers are knowledgeable about the thought of finding a home in the good location that is not the nicest house on the block
- A good location insures an increase in value, and lower end home has more room for improvement
- The more work your house needs, the higher the profit ought to be if it's sold
- But you must consider what improvements will never be profitable
- Let us state that you acquire your house for $300K within an area where most houses sell for $350
- The obvious intention would be to improve the home so that it can make that extra $50K
- In order to do this successfully, you have to consider the price of each improvement against what you will be trying to make
- If you spend $10K over a few bathrooms, opt to additional one more room for $20K and opt to put in some nice marble floors and granite countertops with the food prep for $25K, you might come away having a very nice looking house, however you have spent a lot more than you could have made over a sale
- You may as well have bought a $350K home to begin with and saved yourself the trouble
- If you plan to remain in the home over a long period of time, the home increase will in all probability compensate for this, but try and consider current increases to take into consideration simply how much you project your home could possibly be worth in the future
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