Remodeling Trend to Rise

According to the Federal Reserve, the primary residence accounts for about one-quarter of all assets held by households, ahead of other financial assets, business interests and retirement accounts.

It’s important to protect the value of your home by keeping it repaired and updated. Not only does an update make a home more attractive, it should improve functionality, make it more comfortable, increase the enjoyment, and increase the value, upping the chances of a higher resale price.

If you’re planning on making home improvements, you’re in good company. Home improvement spending is expected to increase by seven percent over the next year, according to research by the Joint Center for Housing Studies of Harvard University. Homeowners will spend about $350 billion on updates by mid-year 2019, confident that they’re making a good investment, thanks to rising home values and a growing economy.

How are they spending their money? The National Association of Home Builders (NAHB) said in May 2018 that bathrooms have overtaken kitchens as the number one remodeling choice.

NAHB surveys of homeowners who recently remodeled their homes found that over four out of five remodeled baths (81%) while 78% remodeled kitchens. Nearly half of respondents replaced doors, remodeled whole homes or added a room to existing homes. Most homeowners start with smaller projects such as new front doors, green-friendly appliances, programmable thermostats, low-emissivity windows and new HVACs.

As home remodeling continues to be popular, you will likely to see increased benefits from your home improvements.

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4 Elaine Circle, Hudson, MA

4 Elaine Circle, Hudson, MA

$ Click for current price
4 BEDROOMS | 3 (2 full, 1 half ) BATHROOMS | 2588 SQUARE FEET

Newer Single Family Colonial, with 2588 sqft. of living space on 3.29 acre lot. This colonial situated in a cul de sac neighborhood is convenient to all major routes. This home features 4 generously sized bedrooms with ample closet space and 2.5 baths. The first floor is made up of a family room with fireplace, a formal living which leads into the dining room perfect for entertaining. Kitchen featuring maple cabinets with granite counter tops and a kitchen island, off the kitchen is a fantastic private deck overlooking spacious yard. Your master suite is over sized with huge walk in closet with master bath. Original owner has meticulously maintained this home.

 

 

What is an Easement?

Easement
Limited right to cross or use for some specified purpose the property of another. It may be permanent or temporary. Water, sewage, and utility suppliers frequently hold an easement across private property.

Thinking about buying or selling?  Request consultation below!

Are You Really Ready to Sell?

If you find yourself saying any of the following to your Berkshire Hathaway HomeServices network professional, you may be hurting your chances of selling your home quickly and for the most money possible.

“I’m not making any repairs.” According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of REALTORS®, 47 percent of buyers under the age of 37 purchased new homes to avoid renovations and problems. If many buyers don’t have the will, skill or time to make repairs, you’re eliminating a number of buyers who would otherwise love your home.

“My home has to be worth more than that.” You may believe your home should be worth more than you paid for it and provide you with enough equity to move. Your listing agent will supply you with tools to understand current market value. The comparable market analysis shows what homes have recently sold for and what other sellers are asking for similar homes as yours, as well as price and sales trends.

“Let’s price it higher and see what happens.” Pricing above comparable homes is a real risk. You’ll outprice buyers who would want your home. Buyers who can afford your home will quickly find that your home doesn’t compare to others.

In any of these cases, you’ll be looking at a price adjustment, and have lost valuable marketing time. Realistically, your home is only worth what the most qualified buyer is willing to pay for your hom