Home Owner Tips: The value of big home improvements

 

What should you spend your money on?

If you want to know what big ticket projects will be of the most value to you (and increase the sales price of your house), the answer is that it really depends on what you'd enjoy, when you think you may sell, and how out of step your home's finishing/repair is with the others in your neighborhood. Please know I'm happy to stop by and chat about this anytime. 703-303-2889

To start your research online, I recommend this article from HouseLogic which is based on data from Remodeling Magazine's 2015 Cost to Value Report (which is very data and add laden, but I have it if you'd like to see it). The short version is you'll get the best ROI from: a steel front door, things that add living space, things that increase curb appeal (like new siding, garage door), energy efficient windows, and kitchen remodeling. It's not cheap, but great kitchens really do sell houses.   

Northern Virginia Real Estate Market Update

Regional Market Update: The DC regional housing market continues to see strong sales activity.  The median prices for all home types in the region continue along a slow and steady rise. 

NOVA Market Update: Northern VA home prices remain stable and activity rising over the same time last year, with the exception of Falls Church which saw a 15% decrease in sales activity over last September. Fairfax County median sales price year to date is $478,000.

Rate Update: After a small increase this summer interest rates are holding steady for the time being. Experts are not forecasting any major change in the Federal Interest Rate this fall, possibly this year. Consensus is the global economy remains too volatile for the Fed to be comfortable at the present time.