Whether your home is currently on the market, or you’re thinking about putting it up for sale soon, you may want to make some improvements. Improvements can be a good thing, but you have to balance any improvements you make with the potential that you’re going overboard. Over-improving is something a lot of homeowners do. They put so much into upgrades and renovations that they essentially have little equity left in their homes, and they reduce its general marketability.
You should keep in mind that when you sell a home, you’re never going to get a 100% return on anything you do. It might increase the property value, but you’re not going to see dollar-for-dollar returns, so you have to be strategic. Think about how you can make your home more marketable, but don’t go into any improvement or addition project thinking you’re going to get all of your money back.
A good rule of thumb is that if you’re making improvements for your own lifestyle and enjoyment, and you plan to stay in your home for many years, then go for it. If you’re planning to put your home on the market in the next few years, be cautious of any improvements and also realistic.