Friday, October 7, 2011

Don't upgrade your house beyond the level of neighboring homes

Don't upgrade your house beyond the level of neighboring homes.
Real estate experts have long observed that home buyers are hesitant to pay a premium to buy the best house on an otherwise modest neighborhood.

Customizing a home with extravagant features, beyond all reason, does make your house harder to sell later. But adding features and upgrades that make your life in your home mirror your dream life, or create the comfort and lifestyle your family craves? If you can afford it without draining your home of equity or going into consumer debt, go for it, especially if you plan to be in the property over the long term.
It's your home, not just another financial asset, and one of the major advantages of ownership is your ability to create a comfortable, personalized habitat for your life.

Don't necessarily expect to get back your investment in upgrades dollar for dollar, and do avoid making bizarre customizations unless you're OK with reversing them when you do list the place for sale, but don't hold back on creating a custom home experience for your family and your lifestyle because you heard it's a bad investment.

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