Margaret Rome's Blog

head_left_image

Did You Over Improve Your House?

 

Over-improving is when you wind up with the best/most expensive/biggest house in the neighborhood.   

 

 

We have all seen homes that are over improved

and here are some of the reasons.

 

-They thought it was a forever home, never planned to sell and made it perfect for their needs.

-They had the funds and wanted what they wanted without moving.

-They made expensive improvements when times were good. 

 

 

over improved

 

-They were comfortable to live in a less expensive neighborhood to be near friends and family.

-They needed special accessibility.

-They needed a school, health care system or other community services nearby.

-Proximity to grandchildren, aging parents or other family members.

 

Can you sell an over improved house? Yes!  

There really are people who want the best house in the neighborhood.

They love having all the bells and whistles and they may be able to make a good buy.

Do you have an over improved house?

 

Margaret Rome 410-530-2400

 

 

 

 Search All Active Listings

 

Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

signature

 

 

Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

 

 
Comment balloon 12 commentsMargaret Rome, Baltimore Maryland • September 17 2018 04:38PM

Comments

Hi Margaret - our home was built in 1915, and we renovated the entire first floor - everything from the walls (which where plaster), electric, molding, floors, new bathroom and kitchen which could put us close to the most expensive house in our neighborhood. However, I design luxury spec homes for a builder, and because we work together, he charged us half the price so it was worth every penny. Good to know that over improved home do sell! 

Posted by Kristine Ginsberg, NJ Home Stager (Elite Staging and Redesign, LLC) 11 months ago

Margaret, do you remember the 235 program that created many entry level homes back in the 1960s?  I was in one of those neighborhoods the other day.  And, there in its midst was a home that had been rebuilt, doubled in size, and with expensive materials.  A pool had been put in.  Some would say it is definitely overbuilt, but the seller apparently loved living there.  It is currently on the market via FSBO.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 11 months ago

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!  

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 11 months ago

Good morning Margaret. I really enjoyed this. I have one of these but I will not be moving.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 11 months ago

 Kristine Ginsberg And you are yet another reason. You want, you deserve and you know how to get the very  best. Your home is an extension of you, the artist, the designer. I know you are enjoying the fruits of your labor. Thanks so much for sharing!!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

Myrl Jeffcoat That program cost the Gov't big time. Low income FHA, no down payment loans that had to be bought back when they defaulted.

I hope the owners loved their home...are you going after the FSBO? 

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

 

Thanks for the feature in the OFC! Myrl Jeffcoat 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

Sheila Anderson Happy you have your perfect home. Why move?  Keep enjoying! 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

Great post and topic I would suggest to get quotes before doing any renovations. Thanks for sharing I hope you have a great afternoon.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) 11 months ago

Margaret on occasion a client has over improved for the market even when I suggested to give that serious thought.  We did get it sold for them regardless and they did take a bit of a hit but not too bad, considering.

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) 11 months ago

Pat Champion None of us would "suggest" over improving a home. But when it is done...we may be called on to sell it.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

 

Anna Banana Kruchten CRB, CRS 602-380-4886  Reminds me of a seller who "over-improved" to sell the house.. against my advice. Two years later the agent who suggested the re-do ( and was also the contractor)  still did not sell it.

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 11 months ago

Participate