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More Info on this Property | New Listing Alerts
18 Crestview Circle, Londonderry, NH 03053
When building a new house, you will face a lot of decisions to make. The initial price of your home entails the cost of all the standard finishes and the cost of construction. If you are planning to customize your home, you should always consider the cost of an upgrade. Otherwise, it's challenging to manage your budget when faced with numerous options. The best way to surmount this difficulty is to prioritize correctly and only spend money on things that add value to your construction.
When considering the type of upgrade to invest in, think in terms of overall value which is functionality as well as return on investment. Here are the five best updates that add value to your home:
Your kitchen is one of the essential points in a home. It is one of the rooms you visit every day, and you spend quality time. Also, when you decide to sell your house, the kitchen is one of those places a potential buyer will inspect to determine the quality of the house. You don't have to upgrade every single aspect of your kitchen at once. For a start, consider upgrading the Kitchen Island, taller cabinets, and LED strip cabinet lighting.
Upgrading your basement is a substantial investment if it is unfinished. An additional foot to the height of your basement can also make a remarkable difference.
When you plan on upgrading your lighting system, you are probably looking for ways to brighten up the house especially if it is builder grade construction. To make your money count, focus more on rooms where illumination is essential. Proper lighting can boost the quality of the house for potential buyers if a future need arises to sell.
A garage can be expanded in length and width to give room for more vehicles. It also can be upgraded depth-wise to accommodate things like gardening supplies, bikes, and more.
There is an added benefit to energy-saving upgrades. If you are considering investing in energy savers, consider getting things like energy efficient appliances, energy efficient windows, cooling and space heating devices, etc. An energy-efficient home will save with lots of money on your utility bills. Your home will perform efficiently for you while staying warm in the winter and cool in the summer.
Visit your local home hardware store for the best tools and brands to use when building or renovating your home.
If spending money to make money on your property seems counter-intuitive, you might attempt to sell your home “as-is” and keep your money for the new place. After all, most of those homes featured on renovation reality shows are in worse condition than yours; and those buyers intended to gut the place for a complete makeover anyway.
Just know that the offers you receive will reflect the needs of the buyer, so you won’t get top dollar unless the property is in an extremely desirable area. Still, it might make sense to sell as-is for a discount if your situation is difficult or you’re strapped for cash. Conversely, selling a home that isn’t up to code reduces your buying pool. FHA and VA loans require a home to meet minimum property standards to secure the loan.
Another consideration is how much you still owe on the property. Unless the investment for repairs and upgrades is more than your remaining mortgage, it is probably worth spending to bring your property up to code. A qualified real estate professional can help you prioritize your repairs to those necessary to get it sold, or market it to buyers looking to renovate to raze the home.
So, who buys as-is?
Investors often purchase property intending to “flip” it; that is, to renovate a distressed property and quickly resell it to recoup expenses and make a profit. Typically, investors want the “bones” of the property to be sound, so foundation and structural issues are less appealing to them.
Another type of investor wants the property for its proximity to business or industry. Their goal is to have the property rezoned for commercial purposes or to build multi-family structures on it instead. If the area around your home is transitioning to commercial or multi-family dwellings, your professional real estate agent can guide you to this type of investor.
Less common is the buyer that wants a project or fixer-upper on which to put their own stamp. Some fixer-uppers buy for nostalgia (they lived in the home/area as a child) and others for what they know the area can become. Their goal is to restore the home to its former glory while adding newer amenities. As opposed to flippers, these buyers often intend to live in the home while working on it, or once the work is complete.
If you determine that selling as-is is the best option for your situation, discuss the issue with your agent. She can warn you about what to expect for offers with your home in its current condition and help you set a fair asking price based on its location and the market trends in your area.