A seller claims a $250,000 home is worth the premium because of new HVAC, roof, and appliances. But if comparable homes with the same work sell for $220,000, maintenance just brings it to market standard, not above it. Don't pay extra for what every home needs.
Never, ever buy a property again before you know about this, because it could cost you tens of thousands of dollars. Here's how. Let's say you want to buy a property that's been listed for $250,000. So you do a viewing, and after doing so, you find out that it's worth $220,000 at best. So you put the counteroffer with the seller for $220,000. The seller rejects the offer because they believe the property is worth that extra $30,000 because they added a new H vac, new appliances, and and a new deck. Do you accept this offer, yes or no? If you said yes, you lost $30,000, and here's why. A new roof, H Vac, and appliances bring your property up to market standard. They don't push you above it. So when houses with similar updates are selling for $220,000, those improvements keep them competitive in that range. But they don't justify $250,000 price when the market is saying $220,000. Maintenance keeps your property livable and sellable and very rarely adds value to it. Upgrades are what often add value to your property because that's what gets buyers raving.
