Think These Renovations Improve Your Home's Value? You're Dead Wrong
There are different reasons people decide to renovate their homes. If you're thinking of improving a property you already live in and intend to live in for many more years, it could pay to move forward with those plans even if they don't end up adding much resale value to your home. That's because you'll get the benefit of being able to enjoy your remodeled space.
But if you're renovating for the sole purpose of being able to sell a home at a higher price point -- whether in the context of unloading a property you've lived in or flipping a house -- you'll need to be really careful when investing in renovations. In fact, it's crucial to keep in mind this rule of thumb: You generally won't recoup the full value of your investment in the course of improving a property. Rather, you'll be lucky to get the bulk of your investment back.
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Source Fool.com
