I am worried that the market is going to burst and I won’t be able to sell at a profit or even break even. What is the most inexpensive improvement I can make that will reap the most benefits. The house needs a driveway, a fence, a garage, some landscaping and some painting on the inside. I can’t afford to do all of those projects becuase I don’t want to borrow anymore money, so what is my best bet?
Sell now, if you can get your money back.
Mike
Can I list it as soon as I close? I just closed today.
Howdy Pwned:
Yes you can list it. You can run free ads in the classified section as well.
Paint and carpet give you quicker turnaround.
Pwned,
If you just bought the house…what was your orig. plan for it? I do not know what area that you are in but it seems like there has been a drastic change for your to be worried just after you closing. Did you clearly evaluate the property b4 you bought? If so I’m sure things will work out fine.
Bruce
Pwned, relax. I don’t know where you got your info but the sky’s not falling. What would possess you to buy a house in that condition and then realize that you can’t make any improvements is beyong me. How did you buy this house? Was is a foreclosure, or a handyman? What did you buy it for? and what are the comps in the area? ARV? Lots of data missing here. Best bet is what terjr says. Best of luck!
-b
TedJr is right…paint and carpet…
My further recommendation:“CLEAN” – actually, “SPOTLESS”. We always get comments because our rentals are so clean. We had a guy out to service the air conditioning and furnace and he couldn’t believe our rental property…he said, “Wow! This is too nice for me!”. LOL – it’s a $60K property but it’s all been repainted. We haven’t even done final cleaning or had the carpets cleaned yet!
Also…cut and edge the lawn, trim hte hedges nice and neat…wash windows…maybe some edging and mulch for some curb appeal.
Keith
I’m not an investor, I posted this here because i figure you all have a pretty good grasp on what equates value in the housing market. I live in Hampton Roads Virginia which has been a booming market for the last few years.
Hey,
I am an investor in your area. Hampton roads is still booming. Don’t let all of the TV reports about the “bubble” shake you up. If you are interested email me and maybe I can tell you how to work it out.
[i][/i]A coat of paint is always the best way to go and it is cheap at that. Also, I think the landscape is the first thing a prospective buyer will see, a couple of weekends to spruce it up. And the homes enterior must smell clean and odor free.
I don’t know about you, but if a house stinks or has an odor, I would pass on it. Curb appeal is everything. ;D