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Bill Cobb

Beware Of "How To Increase The Value Of Your Home..." Advice

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Real Estate Appraiser with Accurate Valuations Group, LLC LA St Certified 851

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September 06, 2014 04:46 AM

More MISLEADING "How To Increase The Value OfYour Home...." rhetoric from Home Industry"Salesman"

Home Theater systems, Inground Swimming Pools,Sprinkler Systems, 30kW Backup Generators,Excessive Landscaping...how the add-on home salesindustry misleads with "This will add value to yourhome..."

1.) A Home Theater System is generally already in a roomin your home and you didn't add that room. Most I see are in a second floor Family Room. The built in cabinets tohold the system and prop up the speakers are already there or would be normal cabinets without such a system inplace.

2.) Much of a home theater system hardware is "Portable" equipment and just like your refrigerator or home stereosystem isn't installed "real estate", neither is your home theater system hardware. It would depend on if it's a built inpermanent system or not. Portable in "real estate" means it doesn't have extra value.

3.) These systems are usually negotiated for as personalproperty items in a purchase agreement, meaning they're notpart of the sales price of the home. And, if they are personalproperty and part of the same price of that home, then theAppraiser has to determine IF that system actually adds value tothat home and how much? In Today's Market from a mortgagelending perspective,

4.) YES, if left with the home, they would help sell thehome....just like today's $8,000 exterior backup generator don'tadd much value but do help sell the home.

NOTE: Image source is via Wikipedia creative commons in public domain.

Bill Cobb is Greater Baton Rouge's Home Appraiser. Contact Bill at 225-293-1500.

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