HOMES FOR SALE IN AND AROUND RIO RANCHO NM

So you want to remodel?  Will you recoup the cost when you sell?  You may want to think about the big picture before you start that next project.

Every week I speak to someone about selling their home, and I do a market analysis to determine what their home can sell for.  Even in a tough market with all the negative publicity regarding home values, people still seem to think their home can sell for more than others in the area.  The main reason I get is this…..”I’ve remodeled the *******, and I’ve put this much $$$$$$$ into the house.  I want to recoup what I put into the home”.  If you plan to sell in the next few years and you would like to remodel…..please speak to me first!  I say this, because most remodeling jobs DO NOT increase the value enough to cover the cost when it comes time to sell.

What do I normally suggest?  When planning to remodel, plan a design with widespread appeal.  If you go crazy with wild colors and designs, when it come times to sell, you may have just reduced the pool of buyers willing to accept your eccentric taste.  My wife likes purple, but when it comes time to sell….we’ll have to paint (that much purple just isn’t normal).  Also, think about the area you live in.  There was a home for sale in Rio Rancho, NM in an area of large lots and open desert.  Everything around it was Southwest style.  When I went inside, the home was EXTREME Contemporary.  It was actually nice, but the design was suited for an urban loft.  A home that appraised for $400K sold for a little over $200k.  Part of the reason was a declining sellers market, and part was the design.