I think an hidden factor in all of the rehab we do on a home to ready for sale is insurance…and the cost of that. Often we see the numbers of return on investment for the item installed is less then the true cost, leaving the sellers a bit perplexed. However, if you integrate the possible saving on insurance premiums that may be gained from the “fix” you may have a better return on that investment. For example…a home that has antiquated wiring and has new electric or updated service to the home..may have a cost of 3000.00, but the savings to the homeowner in insurance savings may be 300.00 a year…the cost of the upgrade is paid off in 10 years if the seller stays put…and if the sale goes through…the new homeowner can realize that savings and the safety factor, too, may get the “undecided” buyer off the fence. So…look at the other costs or savings in the rehab as you may find there are more real saving than those than meet the” immediate eye”.
A commentary on the NW terroir and local Real Estate.
Terroir
(N) the complete set of local conditions in which a particular wine or family of wines is produced, including soil-type, weather conditions, topography and wine-making savoir-faire.
I think an hidden factor in all of the rehab we do on a home to ready for sale is insurance…and the cost of that. Often we see the numbers of return on investment for the item installed is less then the true cost, leaving the sellers a bit perplexed. However, if you integrate the possible saving on insurance premiums that may be gained from the “fix” you may have a better return on that investment. For example…a home that has antiquated wiring and has new electric or updated service to the home..may have a cost of 3000.00, but the savings to the homeowner in insurance savings may be 300.00 a year…the cost of the upgrade is paid off in 10 years if the seller stays put…and if the sale goes through…the new homeowner can realize that savings and the safety factor, too, may get the “undecided” buyer off the fence. So…look at the other costs or savings in the rehab as you may find there are more real saving than those than meet the” immediate eye”.