CHAPTER 3
IMPROVEMENTS THAT COST MORE THAN THEIR ROI
Over the course of many years, we have been conditioned to view almost any home improvement or repair as something which automatically increases the value of the home, as something that will guarantee a great ROI upon selling it. This is not always true.
When deciding whether or not to add a new addition, fix up the basement, purchase new appliances, or other home improvement projects, it is important to ask yourself: do I know that this project will addmonetary value tomy home? Is this repair a necessity or a nicety? Are
these new appliances going to fill my needs and make me happy, or am I buying thembecause I think that they will add value to the home when I sell it in a few years? There are certain repairs, renovations, and upgrades that just will not help you make a sale. Let’s take a walk through your home and look at things more closely. New carpeting? While this could appeal to some people, home buyers are often turned off by it because they will feel like they need to have carpets professionally cleaned before moving in. They also might be conscious of health hazards due to allergens that gather in carpets. These thoughts and more will cross the minds of home buyers making their decisions. If you have good flooring, show it off. You’re much better off with hardwood flooring that can be topped with area rugs or carpeted over later if the home buyer chooses to do so.
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