Charles Burt Realtors Blog

Surprising Real Estate Tips- New York Post

April 14th, 2016 9:36 AM by Jackie Brummett

  • 1. The Starbucks effect. Take two identical homes sold in 1997. One near Starbucks would have sold for an average of $137,000, while the same home without a Starbucks would have sold for $102,000. Fast-forward 15 years: the average US home appreciated 65 percent to $168,000, but the property next to Starbucks skyrockets 96 percent to $269,000.

  • 2. All renovations are not created equal. The greatest return for your investment is a mid-range bathroom remodel, a $3,000 job that returns $1.71 for every dollar spent. The worst home improvements for value are kitchen remodeling and finishing a basement. A top-of-the-line kitchen reno will cost you $22,000, and you’ll only get about $0.51 back for every $1 you spend.

Posted in:General
Posted by Jackie Brummett on April 14th, 2016 9:36 AM

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