Table of Contents
Renovations
House values are based upon the size of the home, neighbourhood, basic curb appeal of the house based upon elements like the architectural type, the economy,
the season (houses tend to sell better in the spring than the Fall) and the overall condition of the house. House condition is the thing that you can change.
To improve the overall condition rating of a house you have the option of spending money to either fix or replace various aspects of a home. Some
things are more labor intensive to repair and some things have a large material cost associated with them. Depending upon your characters profession
you may find that fixing some things is much less expensive than replacing them. A repair will improve an aspect of your home by one state, ie. Steam
cleaning a trashed carpet will improve it to poor condition if you are planning to take a premium property and turn it into excellent overall condition
then steam cleaning a trashed carpet wouldn't be as effective as complete replacement which would put the carpet into excellent condition. Also,
sometimes a home will not improve in value enough to merit replacing lots of items. For example a house that is in fair condition except for a broken
toilet may be best improved by replacing the toilet which would cost only a few hundred dollars and improve the overall house condition to fair rather
than spending to replace everything in the house. Analyzing your homes condition, costs and expected final conditions value is important
when choosing a house renovation strategy. For example:
A newly purchased trailer is in poor condition and valued at $28,000 (28K). If the trailer was in good condition then it would be worth 31K so our
budget needs to be under 3K for the renovations to make financial sense. Replacing the trashed carpet and exterior costs our handyman character
$635. Fixing the hot water tank, the plumbing and patching the roof costs us another $260. The house is still only in OK shape but teetering towards
looking good condition. Straightening up the yard is a freebie, fixing a simple part on the furnace and spreading a little paint costs us another $60.
We have spent $955 and increased the houses value by $3,000 - time to put it on the market!
