Happy Days Are Here Again For Colorado Springs Home Sellers
While Colorado Springs home prices are rebounding, remodeling costs have risen only slightly and mortgage interest rates remain low. As long as these conditions hold, it's good news for homeowners planning to remodel.
Most homeowners know that a house is not a mutual fund--they remodel to improve their quality of life, not their net worth. Still, savvy Colorado Springs homeowners consider resale value before making a major remodeling investment. Even though few homeowners put newly remodeled homes on the market, "prudent" is an important word here. Although remodeling generally increases the value of a home--and often brings a return approaching or equaling its cost--the formula is not foolproof. The style and quality of the upgrade is extremely important. To perform as an investment as well as an amenity, a remodeling job should complement or improve on the style of the existing property. Workmanship should equal that of the original house.
One added benefit that the numbers don’t reflect is how much more quickly a remodeled Colorado Springs house is likely to sell. Customers wanting a "handyman's special" are a thing of the past. Even projects that perform at the lower end of the payback scale can pay off by speeding the sale of a home. Buyers may view new windows or siding as maintenance items rather than improvements, but a well cared for home is exactly what most buyers are looking for. Well-maintained and updated Colorado Springs properties will always sell before tired, dated homes.