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The Home Focus
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Should you Add-on or Move Houses are usually designed to be the size they are originally built. When you start putting additional rooms on a home, a conventional floor plan becomes unacceptable. Having to walk through one room to get to another is an example of functional obsolescence. Homes that experience this usually diminish in value. Even though actual expenditures have been made, it may lower the resale of the home. If a person intends to stay in the home for a long enough time to recapture the expense, it may justify the addition. Another problem that might occur when an addition is made is overbuilding the neighborhood. There is a principal in real estate appraisal called conformity. All homes in an area should be of similar size and price. By overbuilding a neighborhood, the value of that home is actually lowered by the average value. There are always exceptions to any general rule. If the value of the lot is exceptional because of its location like being on the water, or a golf course fairway, or even in an exceptional neighborhood, the normal rules about making additions to a home might not apply. However, in most cases, it is better to sell a home and re-invest in a home designed to be the size that you need surrounded by homes of similar size and value. This will protect the resale value and give the homeowner what they need. If you are facing such a decision, please let me be of service. I'd be happy to personally consult with you at your convenience.
Curious About Your Homes Value
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Financial Tip She starts with the $1,000 that she had in her savings account from gifts from relatives. She puts the $2,000 a year into a mutual fund that earns an average of 9%. At age 65, she will have accumulated $1,100,045. On the other hand, her brother doesn't heed your advice and parties for the next ten years. But at age 30, after comparing the value of their savings accounts, he decides to start making the annual contribution. He will place $2,000 a year in a similar mutual fund earning 9% but at age 65, he will only have accumulated $451,835. Imagine his surprise. He will have less than half of what his sister does. It is because of the power of compounding over time. Garage Sale Tips Allow several weeks to go through the merchandise, arrange and price it, and to plan the promotion. Selecting the right date is important so it won't conflict with holidays or special events that compete for attendance. Weekends are generally more successful than weekdays. The superstores like Wal-Mart have learned that a large selection of merchandise will attract more people. Some successful homeowners have learned that they can combine their merchandise to get a better customer response. Practical household goods such as appliances, dishes, furniture, and tools are good sellers. Clothing typically doesn't have a high resale value, with the possible exceptions of children's clothing in good condition. Try to display your goods in an attractive manner as if you were merchandising them in a store. Items should be clean, and if not in working order, labeled accordingly. A classified ad in the newspaper listing some of the more desirable items can greatly increase your foot traffic. Bulletin boards in grocery stores and other public places can provide additional exposure Current Mortgage Rates
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