So much of the time, we live in our homes, and make only certain improvements, with the idea that we will recoup the cost when it sells.
I think our needs/wants are worth more than the next buyer's (as long as one has the money to do so).
Anyone done this with an addition/remodel...that for strictly investment, may not have made the most sense?
My parents added on to my childhood home when I was a teenager. My parents had no intention of moving, having lived in the house for 20 years by that time and looking at the glide path to retirement. The home would have been ideal for them in their early retirement years as it had a first floor master, first floor bathroom, kitchen, dining room, family room, laundry room and 1 step up from the garage to the house.
Alas, my dad had to take a transfer 3 years later after I graduated from HS and they sold the house. It was already one of the largest on the block and the addition (all brick 2 car attached garage, laundry, family room, powder room) made it probably the second largest and most expensive house on the street. The house would have sold for about as much without the addition as with it.
That lesson was not lost on their son, don't over improve for your surroundings because life can throw you a curve ball when you least expect it.
I finished the basement of my first townhouse. I was hanging the vertical blind on the sliding glass door of the just finished walk out family room the night before I went down to VA for the job that caused me to sell it and move. I made money on the house and the finished basement certainly made it stand out from the competition. It sold to the first people that looked at it on the first day it was on the market at asking price.
Any advice given here is general in nature and is not necessarily valid for your given area. If in doubt check with your local codes enforcement department for what is required when doing electrical, plumbing or structural work on your house. Permits may or may not be required in your area and home owners may not be able to DIY some tasks. I have no way of knowing if you have the skills needed to complete the tasks you are asking about, when in doubt seek professional assistance.
My advice may be worth exactly what you pay me for it. :-) For the record I did not stay in a Holiday Inn Express last night.
Point well taken Sparky. Future is unknown, on every event. It is too bad your parents could not have done it sooner, in order to enjoy it longer?
However, if one loves their location and has the expendable income, sometimes we don't value our own interests, enjoyment and that of our families enough to take chances on making our homes what we desire for the immediate future.
I think I fall into the category you are talking about. I purchased my first and what I assume will be my last house six years ago and have started to make some major changes to it. The best thing I have done for myself, which future buyers may not appreciate, is I recently removed the tub in the only bathroom and now have only a shower. My elderly parents are moving in soon and I plan to live here when I am old (my nephew recently told me I was old already and my parents are ancient, since when is 50's old!! LOL), the bath to shower conversion makes sense for us but I have no idea what it will do for resale when that time comes. I have also added a shed for sewing, not for gardening/storage and am working on converting the converted garage into an office/library and have done nothing to the kitchen. I fall into the category of 'only having a kitchen because it came with the house'. Others have told me I should have spent my money on the kitchen first, but since that room isn't as important to me, I am working on the rooms I really live in.This message has been edited. Last edited by: headielamar,
I think "high end" is not all that has to be considered. Some little things can make your life much nicer but would not be appreciated by others and would make a difference inthe sale ability of a house.
I have not done anything drastic but have removed most of a bedroom wall where it attached to the family room (walk out basement).
If I had a house with only a tub I would replace with a shower unless I knew (really knew) that I would only be there a couple years.
As I get older the ease of living far outweighs the loss of monetary valve.
I totally subscribe to the school of do what YOU like, not what the mass market dictates. I am likely in my last house (I'm 66 and DH is 71). Last year we replaced the fireplace wall in our LR with linear white quartz, no mantle. Painted the walls grey, including the woodwork, and did the ceiling a half tone of the walls. We did the same paint in the adjacent DR, with an awesome and very unique chandelier. All our lighting is LED. Most people who see our house smile politely and say something nice, but I know they hate it. And every day when I see these rooms I just smile. I love my house and I will continue decorating it for our taste. Somewhere there will be a buyer for it, but for now I just plan to enjoy our renovation.
I like it when people feel it is OKAY to finally be a little selfish if they have the means, and create the home they really want.
We love things about our retirement home, but we also need to solve some storage and entry issue problems. Building in a resort/vacation mountain area is not cheap, unfortunately.
We are expanding into our (too small) existing lower 3 c garage area with a family room/art area/combined with a true entry. (part of the space will be closed off for more storage)It has great south facing solar potential and fabulous views. It will be entered through an air lock entry vestibule, with also access to an oversize new 2 c garage. Stair in the vestibule, going up to the storage room above the garage. Every space well insulated and drywalled, and the exterior will match and mesh well with the existing home.
We hope to be living there for 15-20 years, so we really think this is going to be worth it for us.
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