Is it Value or Marketability?
By Corinne Fitzgerald, Realtor/Broker/Owner, FITZGERALD Real Estate
(FITZGERALD Real Estate)
When you make improvements to your home, the question you need to ask yourself before you make any significant changes should be - Will this add to my home's value or make my home more marketable or both? Value in Real Estate translates into the dollar value of a property. The price a house sells for is considered fair market value. Appraised value is quite often the measurement lenders used to determine value. Marketability is what makes a property appealing to a prospective buyer. Sometimes improvements lean more towards the marketability side than increasing the value. New windows, a new furnace or new roof all will appeal to a buyer and add to a home's marketability. Unfortunately, in most cases, it will not add dollar for dollar value to the property. Though the costs of these upg...
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