Here are the top four home remodeling projects that will provide a POSITIVE return on investment (based on annual report*). That's not to say that completing other projects won't provide an increase in your home's value. Adding another bedroom, remodeling the bathroom, etc. will increase your home's price. But if you spend $45,000, you won't necessarily sell your home for $45,000 more with the new upgrade. However with the following four, replacing your windows for example, will provide your money back and then some on the resale.
These are the top projects for getting your money back:
Let me know if you have any questions!
*Please reach out to me directly if you would like a copy of the annual report that provides this information as it can't be published on my website due to copyright.
**Further detail of what exactly the remodel consists of is in the report.
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. fell to a 10-month low in early February 2019.
Sam Khater, Freddie Mac's chief economist reports, "The U.S. economy remains on solid ground, inflation is contained and the threat of higher short-term rates is fading from view, which has allowed mortgage rates to drift down to their lowest level in 10 months. This is great news for consumers who will be looking for homes during the upcoming spring home buying season. Mortgage rates are essentially similar to a year ago, but today's buyers have a larger selection of homes and more consumer bargaining power than they did the last few years."
Freddie Mac News Facts
Great article about real estate including all the reasons why it's such a great asset class including cash flow, appreciation, depreciation and a host of other reasons. Long article but well worth the read.
If you lived through the recent real estate and economic recessions, the very headline of this article might cause you some emotional pain. Less than ten years ago, the country was swept with an economic crisis the likes of which our generation had never seen. I personally remember driving down the street in California’s Central Valley and seeing “for sale”signs on practically one of every four houses. It felt like the market would never recover. Fast forward a few short years and now massive wealth is being built through real estate—often by average Joes.
Crissi Avila will teach you how to buy smart. We’ll look at location, development, and turnover so you can spot opportunities long before most even start considering them.