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

be aware of the extra costs attached to the pool for maintenance and water bills. If your wallet will be just as happy paying for all the expenses attached to installing a pool, keeping up with maintenance, and potentially losing out on tens of thousands of dollars when you can't recoup your investment at the sale, then go ahead and have fun with a pool. Do not, however, do it for the resale value of the property. I know that sounds harsh, but it is, unfortunately, true. Taking it up a level? Do you need more room to fit your family for a few more years? Is your mother-in-law moving in? Do you need to build a special suite for her? There are valid reasons to build additions on to your home, but if you plan to move out shortly, the addition will only be a temporary bandage. If you can, hold off on making expensive changes. If you do decide to proceed with an inlaw or granny suite, be sure to check your municipality for grants and tax incentives. If your house is the smallest in your neighbourhood and everyone else has a second story, you have a better chance of recouping your costs than if it is the other way around. Home buyers want to be comfortable in the home and with their surroundings. So if you add to your house in good taste, and it does not stand out like a sore thumb, the appraisal will likely be more in your favour. However, covering 100% of the cost of any addition is very unlikely, so don't get your hopes up. Don't go chasing waterfalls. It is lovely to see beautifully landscaped yards with colourful plants, mini-hills, and the trickle of water flowing down amidst the flowers. The picturesque setting pleases the eye and relaxes the mind. However, while good landscaping is important for the general enjoyment of any home by its residents, you don't need to feel pressure to invest in extravagant creations to bring up the home's resale value.

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