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Home Improvements in Santa Fe – Time to Start!

Aug 14, 2012

Have you been postponing home improvements on your Santa Fe home the past few years, uncertain if it would have any effect on its resale value? This year may be a great time to finally invest in your home again, as the market rebounds.

Consumer confidence in the housing market is increasing, and more and more homeowners are willing to invest in home improvements. Harvard University’s Joint Center for Housing Studies has reported that remodeling and home improvement projects in the U.S. are proposed to rise through the rest of 2012 and into 2013. The Center states that lower financing costs and improving home sales have given consumers the confidence they need to remodel their homes with a good expectation of a return on investment.

As the market continues to recover, this year still may not be the best time to consider major renovations, such as a complete gourmet kitchen remodel or finishing off an entire basement. Some good choices could be more moderate improvements, including new windows, siding, roof, HVAC, or flooring. A new deck added to your home could even bring a good return on investment in this market, without a major outlay of funds.

The best idea would be to make home improvements comparable to other properties in your neighborhood, especially if you are thinking of selling soon. If no one in your neighborhood has a state-of-the-art kitchen, then you may not be able to recoup as much of your investment in the resale of your home if you make a major kitchen renovation right now.  However, it may be an advantage to have the newest roof on the block when it comes to attracting buyers.

Contact me if you’d like to discuss the current real estate market in Santa Fe!

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