Smart Money with Homeownership

Do you know what smart money means when it comes to your home? I got you.

Here’s my take on a spend that you may want to think twice about. (click photo for video)

Video Transcript:

I got a question a while back from somebody that was asking me if they should pave their driveway if they're thinking they may be selling their house in the next couple of years, and my answer was no, in that case. 
Nine times out of 10, the answer would be no, because you might spend $10,000 paving your driveway and you might get $3,000 extra out of your sale price. 
So it's not smart money. 
In a case it would be smart money would be if your house was completely spotless. 
Maybe newer, needs absolutely nothing, maybe you just reno'd the whole thing and the driveway kind of stands out like a sore thumb is the obvious weak point and is the only thing holding you back from saying you don't have to do a thing here. 
That would be a rare case if you spend 10, you might get 10 back out of it, you'll make 12 back out of it. 
But I think most times you're going to get more like 3 back out of it because buyers pay attention to the driveway for a second. 
But it's not, I find, from working with buyers over the years. 
It's not the reason they choose a particular home and they're not going to pay that much extra for the same house. 
With a paid driveway versus gravel driveway. 
Hope this helps.

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