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Home & Family: Housing

Will I recoup the costs of making improvements in my house if I decide to sell it shortly after the project is complete?

The answer to this question has many variables. First, you should never expect to recover all your investment when making improvements in the home. Second, you must make sure the improvement is truly an improvement in the property rather than what is deemed as normal upkeep. For example, a new roof on the home is expected upkeep while a new kitchen is usually considered an improvement.

Improvements on the property normally do not increase the value of the property dollar for dollar. For example, do not expect a $10,000 improvement to a $70,000 house to make the house worth $80,000. An improvement on the property is more likely to increase the value of the property if the surrounding houses are larger and in better condition. If the surrounding houses have not been well kept and are smaller, then the cost of the improvement is not likely to increase the value of your house.