Useful takeaways from this story.

You love that you can get to work, school and the grocery store without much thought.

Then, when we're talking about how much it will impact your home's value...

we conclude that it will likely only add about $50K if you were to then sell your expanded home.

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The useful part

You love that you can get to work, school and the grocery store without much thought. Then, when we're talking about how much it will impact your home's value... we conclude that it will likely only add about $50K if you were to then sell your expanded home.

How it works

  • This difference in the cost and the returned value might make you second guess the whole idea of expanding your home.
  • A Less Than 100% Return Can Still Make Sense It's easy to think every home improvement should pay for itself.
  • While many don't, that doesn't automatically make it a bad decision to move forward with the improvement.
  • Presumably, the alternative would be to sell your home and buy a larger one.
  • the cost of selling your current home, the cost of buying the next one, the cost of moving, and the cost of any updates or changes you want to make to your new home.

What to take from it

Add all of that up, and you might find that you would spend that same $50K (or more) that you "lost" by adding on to your current home. This won't be the right answer for everyone –– as sometimes a lot doesn't have enough room for an a...

Details worth keeping

You love your home, your neighborhood and your neighbors. Maybe a larger family room, a primary suite, or an extra bedroom or two. You get some estimates, and it looks like it will cost about $100K.

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