When you have
finished your renovations and place the property on the market, generally, you will only
be paying interest on the amount of the line of credit used (not all that may be
available) until closing at which time the loan should be paid off completely.
In youre assessment of what Improvements to make to the property to achieve the
maximum dollar return, remember that curb appeal is tremendously important. It is the
first thing that your buyers will see and will set the tone as to how receptive they will
be to the rest of the property. No matter how beautiful the interior, if your prospective
buyers do not get inside, it will not matter. Clean exteriors, green grass, fresh paint,
all help to get prospective buyers inside. Fresh interior paint, new carpeting, new or
very clean tile, and spotlessly clean bathrooms and kitchens should be paramount.
Another tip to add pizzazz to a property is to replace all old, dirty, bug filled,
cheap light fixtures in halls, laundry rooms, kitchens, and bathrooms, not to mention
bedrooms and other main living areas, with some of the new very elegant appearing fixtures
you will find in your home improvement stores.