The Most Expensive Home in the Neighbourhood

constructionHomeownership provides you with a great sense of pride and satisfaction.  If your home is the most expensive home on the block, it may make you feel good, but you could have a problem when the time comes to sell.  Surrounding homes of lesser value will have a tendency to lower the price you will get for your home.  A prudent buyer will be hesitant to invest in a price range above surrounding properties.

Some costly improvements to your home over a period of time may be necessary to provide for the needs of a growing family.  They may now, however, have to be considered over-improvements because they have priced your home out of the market.

If you are considering making improvements to your home, be sure to add up all the dollars you will have invested in your property by the time improvements are completed.  After this analysis, will you be able to sell your home at a price that is typical for your area, or will you be the victim of an over-improvement?