Question by dr521: Do home improvements really add value?
You see it on HGTV and elswhere on TV. “Upgrade your kitchen and recoup 98% of the investment!” “Repaint the exterior and recoup 120% of the investment!” The list goes on. Has anyone actually checked to see if you really do recoup home improvement investment in the form of higher resale value? How can you really be sure, because it’s not like you actually get two appraisals from an appraiser, one for before improvement and the other for after improvement. Or is this a conspiracy by home centers?
I understand what all of you are saying, and I have heard it before. But where’s the proof? Does anyone know how such data were actually obtained?
Answer by mykidsRmylife
Yes and no.
If you do the work yourself and bring an undervalued home up to market, you will recoup even more than these figures. (30 year old kitchen upgraded to new appliances and cabinets)
If you are already at market and make extravagant improvements, do it for yourself and not any possible value creation. (5 year old kitchen upgraded to granite in a small bungalow)
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