8 Remodeling Mistakes That Can Lower Your Home’s Value
Getting ready to sell? Thinking you can boost your asking price with some freshening up? Be careful, or you could actually cost yourself in more ways than one. Not all renovations are created equal, and some can actually detract from your home’s value.
You might be tempted to try to add value by tackling a few DIY remodeling projects. But when they’re not done properly, such efforts can actually have the exact opposite effect on the value of your home. Here are eight of the top remodeling mistakes that can decrease your home’s value:
MARKET UPDATE FOR GUELPH
The 2022 real estate market continued on a brisk pace in February as the inventory of homes for sale couldn’t keep up with the high demand. Homes continued to attract multiple offers and sell well over asking price. The number of sales for Guelph in February (245) increased about 60% from the previous month although the average sale price stayed about the same at $965,000 or $613/square foot. This included all residential sales, detached, semi-detached, condos etc. The average time on market for MLS sales decreased to only 8 days and sellers received on average 120% of their asking price which means that homes were still selling significantly more than asking price on average.
Going forward into March, there are only 131 active listings for the entire city which is still extremely low inventory. 400 homes would represent a balanced market. This low inventory, high demand, seller’s market should continue to rule as the spring market begins.
Are you thinking of making a move? Put RE/MAX, real estate’s premier brand and my 20+ years of real estate experience to work for you! Call/text/email/DM me and let’s get started with a free home evaluation and custom marketing plan!
Dean Manton Broker
RE/MAX Real Estate Centre Inc
519-716-4663
dean@mantonteam.com
reasonstohiredean.com
#experiencecounts #20plusyears #remaxcanada #Guelph #guelphrealestate #movetoguelph
