REAL ESTATE TIPS 106: Add Value and Not Novelties!

One of the biggest mistakes homeowners make is updating their home without considering whether or not those updates will increase or decrease value. If you never plan on selling your home then definitely paint it purple and orange and put a fireman pole from the second floor to the basement. If resell appeal doesn't matter to you then its not an issue to go from a 3 bedroom home to a 1 bedroom with an oversized walk-in closet. If it's possible that you might sell at some point it would be more beneficial to update electric, plumbing, replace older windows, update kitchen and bathrooms (Caution: keep it simple as these two can go from smart investment to money pit in the flip of a page). Remember your home is an investment, the choices you make effect the possible return, be them good or bad.