Joseph Talbot, Real Estate Broker - HOME IMPROVEMENTS THAT IMPROVE VALUES

CHAPTER 3 Improvements That Cost ements 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. Unfortunately, this is not always true. When deciding whether or not to begin a new addition, fix up the basement, purchase new appliances, or take on other home improvement projects, it is important to ask yourself: Do I know this project will add monetary value to my 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 them because I think they will add value to the home when I sell in a few years? There are certain repairs, renovations, and upgrades that just will not help you make a sale.

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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.

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