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Bought a house.. Got a question

We just bought a house and for the most part it was exactly what we were looking for. However, there are things that I would like to update, such as marble floors in the bathrooms, new faucets and vanitys, i want a privacy fence and I want to add an above ground pool. Well all these things will also raise the value of the house so when we go to sell it, it's worth more. Should I go ahead and start those things as I get the money too or wait a year? My husband doesn't want to do anything to it until he is sure that we'll live there for a really long time, but even if we spent the money, we'd get it back when we sold it if we did.. Ya know? LOL..

Answer Question
 
Anonymous

Asked by Anonymous at 2:18 PM on Feb. 3, 2010 in Home & Garden

Answers (8)
  • it will take a LONG time before you get back what you put into a house these days
    peanutsmommy1

    Answer by peanutsmommy1 at 2:19 PM on Feb. 3, 2010

  • It will take some time to get back what you put in, but updating cant hurt.
    canthaveboys1

    Answer by canthaveboys1 at 2:20 PM on Feb. 3, 2010

  • Split the difference and do the small projects. A new vanity can be a few hundred dollars depending on size, new faucets aren't expensive...Small, inexpensive changes can have a big impact.
    deadheadjen

    Answer by deadheadjen at 2:21 PM on Feb. 3, 2010

  • congratulationson your new home I would just do little things while you are there I mean don't go and redo the house like remodling just go with the flow as it is it sounds very nice already just move your stuff in and enjoy and just go around the house and get ideas of what would you like to do and write them down so once you know where you stand you can pull out you list...GL

    Butterfly1108

    Answer by Butterfly1108 at 2:35 PM on Feb. 3, 2010

  • There are very few upgrades you can do to your home that will add to the value dollar for dollar, especially cosmetic things like vanitys and faucets, even the flooring probably won't add much value when it comes time to sell. The fence and pool may give you a better return, although some people see an above ground pool and rule a house out because they don't want the work. Anyway, your realtor is a good place to get an idea of what kind of return you can expect on any changes you make. The things that really add value are adding square footage and complete remodels of bath and kitchen. Of course, you are living in the home so there is value to you in making the changes to turn your new house into your new home.
    MaryMW

    Answer by MaryMW at 2:42 PM on Feb. 3, 2010

  • You will not automatically get back upgrades; do not spend money thinking that you will get it back.
    rkoloms

    Answer by rkoloms at 3:40 PM on Feb. 3, 2010

  • There are too many variables that can affect the value of a home. The economy is the biggest factor. For example - I bought my home in 1998 for $100,000. In 2004, my home was worth over $300,000. By 2008, the housing market fell and now my home is valued at $150,000. As the economy recovers the value of the home will rise.
    Since you recently bought your home while values are down, your house value is going to automatically increase without any upgrades when values begin to rise.
    Usually, updating does not increase a home's value. The above ground pool will not add any value. Even an inground pool does not add much value to a home. It might cost $35,000 to add an inground pool but only increase the value of the home by $20,000.
    Check out www.zillow.com - it's a site where you can check out the value of your home and trends in the housing market.
    PrttyMstng

    Answer by PrttyMstng at 7:57 AM on Feb. 6, 2010

  • Do you have cable or dish??? If so there is a show on DIY channel called Sweat equity that is totally all about this kind of stuff.
    I would like to first start off by saying that an above ground pool will only give you equity if your neighbors have one. My realtor spoke to us about this and said that as long as others in the neighborhood do then its a plus. However, if you are the only one then it maybe a downfall since most of the market for that area does not look for that. Its hard to explain; just google pools vs equity and you will find tons of info viewing the pros and cons.
    And now ..... bravo for you on wanting to update your bathroom. In most homes; you will need to update either your bathroom or kitchen; those are the main 2 selling points on a home. The "in things" right now are vessel or bowl sinks and they are fairly reasonable; same with bamboo flooring. Here's a good link for more info.... wwww.diychannel.com
    wolfmomma30

    Answer by wolfmomma30 at 1:12 AM on Feb. 11, 2010

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