There is such a thing as over-improving a home. While it’s not a bad idea if you do it for yourself, especially if you plan to live in your home for the rest of your life, there are pitfalls that come with over-improving. If you do it for other reasons, particularly to increase home value in an attempt to sell your home for a higher price, you might be in for a rude awakening. Here are some of the dangers of over-improving.
Exceeding the Value of Properties in Your Neighborhood
Home improvements often require a sizable investment, and most neighborhoods have a ceiling in terms of home value. If you make improvements that exceed that ceiling, you can’t expect to recover the cost of your improvements.
Overdoing a Room
Cabinet refacing is a good project because it lets you save money you’d otherwise spend replacing your kitchen cabinets. However, if you go beyond that with a total makeover of your kitchen, make sure it’s within reason related to area property prices or it’s something you’re doing because you truly want that new kitchen for yourself.
Not Considering the Size of Your Lot
Every time you add to the floor area of your home with an addition, your yard becomes smaller. Before making additions, take your lot size into account. Do a little tour of your neighborhood and get a rough estimate of the size of the lots relative to the size of the houses. Consider the zoning laws in your area. If you intend to live in your home for life and you really need more space, ask your contractor if your home can be expanded vertically without sacrificing its architectural integrity and design.
Not Considering a New Home
Instead of sinking hundreds of thousands into your old home, why not think about buying a new home instead? That does come with some adjustments, but it also presents you with an opportunity to spend your money on something that may suit your needs better.
DreamMaker Bath & Kitchen of Central Texas offers a wide range of professional remodeling services, including bath and shower remodeling. We are also professional kitchen remodelers. To get started with a no-obligation consultation, call us at (254) 262-0087 or contact us online. We serve homeowners in Waco, Gatesville, China Spring, Woodway, Hillsboro and many other Texas communities.