Get Your Money Back On These Top 10 Home Projects

Real Estate Survival Guide with Terry Story

Terry Story, 30-year Keller Williams veteran and all-around fun person to talk to, had some thoughts on recouping a remodeling investment.

Remodel Now Or Later?

When considering a remodel, Terry advised thinking ahead. Will a remodel allow the current owners to sell the house to new owners? Not if the remodelers go nuts. Remodeling for resale also has to take time as a factor. Enhancing the kitchen now and putting the home up for sale? Good idea. Enhancing the kitchen now and putting the home up for sale in ten years? Maybe not so much. Garage doors tend to be a go-to home enhancement, which led to a discussion on the importance of curb appeal, as well as the ability to display and/or hide a vehicle to better attract buyers. 9/25/19

Terry offered estimations on manufactured stone veneer, minor kitchen remodels, deck additions (not really a thing in South Florida), pool additions (that’s more like it!), siding, doors, and vinyl windows (Terry got carried away on a Three Little Pigs analogy; that’s why we like her).

The Impact Of Impact Windows To A House

Steve asked about impact windows, and Terry gave the example of a seller of a $1.4 million home considering the installation of impact windows at $100,000. The question: can the seller recoup the $100,000 investment? The answer: try lowering the price first. Terry answered that when a seller gets told a house needs this or that before it will sell, the prospective buyers are actually saying they can’t see the value of the house for the listed price. In other words, the house has been priced too high.

Terry added that since impact windows won’t withstand the force of flying objects during a hurricane, the better choice might be to buy good insurance

Do Not Proceed With Two Brokers

Finally, Steve and Terry considered a seller/broker fight concerning a cancellation fee over a listing agreement. Terry stressed that any new broker working with the seller needs to know about the listing agreement between the seller and the first broker and that both parties have agreed to the release. Not doing so leaves the listing and both parties in limbo until the listing expires, at which point the seller should reach out to the broker and come to an agreement.