I just answered a question on Trulia and it was awarded “Best Answer” status!
Q. How would investing in landscape/hardscape compare in resale value to fireplace, room addition, remodeled bath, remodeled kitchen or 2nd bath?
A. Keep in line with the community especially if you expect to move soon or are simply doing the work for resale. Remember too, that this is your HOME, not just an investment. If you have the money and expect to use the addition or the beautiful patio or the fireplace, then there is a value to the benefit of the enjoyment of whatever it is you decide to do. If you end up selling and expect to recover every dollar you put into the renovation, then you will be disappointed. Check out the cost vs value report for renovations and improvements on realtor.com for some realistic guidelines and have your expectations set correctly.
I honestly believe that many people have lost sight of the American Dream – so many people look at their home solely as an investment rather than a safe haven. I’ve seen people pass over a home that they love and purchase the one down the street because they felt they could get a better deal. I’ve heard people say, “I liked that one better, but I can get a better deal on this one” – and really, we aren’t even talking about that big a difference. I could understand that statement if it was, “I like that one better, but the other one is more affordable”… but that’s not what I’m hearing. Isn’t there value that can be associated with finding that perfect house? The one where you can feel at home? Raise your kids, or take that much needed break from the outside world? Think about it… your home is your castle!
If you are consdering a move into or out of Basking Ridge, I can help. Do you need an estimate of your home’s value in today’s market? Be notified of new listings in and around Basking Ridge. Or track last month’s Basking Ridge sales.
I look forward to helping you find your dream home – and to helping you get the best value for the home you love, as opposed to getting the home you don’t love because you feel it’s a good value.
