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Posted by on December 1, 2006, 12:53 pm
Malcolm Hoar wrote:
trader4@optonline.net wrote:
> >I'd have to strongly disagree that upgrades are a loss and you will
> >never get the money back. I've seen lots of articles by professionals
> >that show that there are some upgrades that can in fact return more in
> >resale value than they cost.
>
> And most of those articles are written by professionals in
> the home improvement biz...
Most of the ones I've seen have not been written by anyone connected to
the home improvement business. Most have been written by real estate
professionals.
>
> Having said that, it certainly is possible to make investments
> that will produce a very positive return. But many, many
> homeowner improvments do not do so. Heck, I have personally
> viewed dozens and dozens of homes for sale where badly
> thought out or implemented additions and "improvments" have
> seriously eroded the desirability and value of the property.
No question in some cases, you can decrease the value. Like taking a 3
bedroom, enlarging one bedroom by eliminating another one. Or simply
painting the house some awful colors.
>
> There is an inherent conflict here:
>
> * When you embark upon improvements based on resale, you
> need to be very cold, objective and hard-nosed.
>
> * When you embark upon improvements that you want to live
> with, the considerations are very personal and subjective.
There can be some conflict, but I don't see it that extreme. There
is still a broad range of selection in terms of what you do, which
materials, colors, etc that you can choose from and still have it come
out about the same in terms of resale value.
>
> Those who wish to learn more would do well to study what
> features the major home builders are adding to the houses
> they sell. They know (don't guess) what add-ons maximize
> the market value of the property.
>
> --
> |~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~|
> | Malcolm Hoar "The more I practice, the luckier I get". |
> | malch@malch.com Gary Player. |
> | http://www.malch.com/ Shpx gur PQN. |
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| 
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