Homeowners need to be cautious when making home improvements, renovations or addition. When you sell, you "never get 100 cents on the dollar no matter what the improvement is" says Erik H Reisner, managing partner of a Vermont real estate company. "It may increase the value of the property but not dollar for dollar." If you have equity, you might even burn off all the equity in your property.
Bottom line, if it is for your own use or helps you get more time in the house (like adding a first floor bedroom) that is smart. But if your sole purpose is to increase your home price, or even "get it back at resale" it might not even be worth it.
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Bottom line, if it is for your own use or helps you get more time in the house (like adding a first floor bedroom) that is smart. But if your sole purpose is to increase your home price, or even "get it back at resale" it might not even be worth it.
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