During my years in real estate, I've seen cases where homeowners made home improvements assuming they’d recoup their investment when they sold, only to find that the improvements didn’t increase their home's market value, and even decreased it.
How could this be? Well, there are many variables involved in how home improvements affect market value. Some relate to the quality of the improvements, while others relate to an individual owner's tastes and needs. For instance, remodeled kitchens and added bathrooms usually generate a good return. However, a new swimming pool that means a lot to one owner often makes a property less saleable generally, and so decreases its market value.
So if you’re thinking of renovating or adding on to your home, you’re welcome…
684 Views, 0 Comments