Do you have the future resale value of your home in the back of your mind? Most real estate agents will have good input when it comes to discussing improvements that will or will not help make your home more attractive to buyers. After all, they work with buyers and sellers every day of the week. But, I have a few cents to put in, too.
Not too long ago I worked with a couple who wanted to renovate their bathroom. We designed option after option after option only to come to the conclusion that we would keep everything in its place and simply replace the fixtures. The hang up was that the owners were overly concerned about what the next buyers would want. They had no plans to sell soon, but they just couldn’t get beyond that hump of wondering what the next people who lived there would want.
Another couple was convinced that they would not be able to sell their house unless they renovated the kitchen. They spent loads of time in planning and about $50,000 to do the construction. Then, the next owners came in and tore the whole thing apart again to make it their own.
So, here’s the deal. You cannot interpret the tastes of the people who are going to buy your house. If you are certain you are going to sell in a relatively short amount of time then you should be as conservative as possible with the money you spend and styles you choose when renovating and decorating. (Check out this brief article on Home Renovations That Could Hurt Resale.)
However, if you do not have definite plans to move soon, I whole-heartedly recommend making your home a place in which you love to live. After all, why not? It’s yours!