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In terms of resale value this isn't really a good idea. You will put tons of money into renovating so you'll want to get that money back when you sell, but chances are the people who could usually afford to buy in your area won't be able to afford your home because once the reno costs are factored into the price it will end up costing alot more than the other houses in the area. If you renovate too much the houses that surround you will go up in value, but your house might just end up sticking out like a sore thumb. |
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There's nothing wrong with wanting a house that looks good, but don't take things too far. Make changes that are tasteful (this means no water fountain in the front yard) and stick to making improvements that will still allow your house to blend in with surrounding places. |
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If you're going to put money into renovations first attack any obvious problems. Adding a new coat of paint to your home's exterior and landscaping your lawn and garden can be some great ways to improve the overall look of your house. |
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If you are renovating your house to add things that suit your taste and lifestyle make sure you are going to be living in the house for a prolonged amount of time. Things like jacuzzi tubs, swimming pools and elaborate fountains might suit your taste but they might not increase the resale value of your home. If you are thinking of selling in the near future hold off on renovations, but if not have fun adding the things you've always wanted. |
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