What have you done to improve the value of your home?

 When Kelly and I moved into our current home, we didn't even have a kitchen sink.  We had bought a fixer upper, and spent a couple of years getting it to the level it is today - happy to live in, still a ways to go to be perfect.  In doing the work, we have spent thousands of dollars, from new siding to flooring and a new kitchen.  She has kept a running list of all that we have done so when we finally take a break and look at it all, we can see all that we have done that is new to us.

You should consider making a similar list as you go along while living in your current home.  When you make a change or improvement it can have a positive impact on the price you are able to get for your home when you sell.  On the other hand, things you do to increase your enjoyment of your home may not make it sell any higher, but still provide you great joy while you live there.

For example - a kitchen renovation, changing countertops, appliances and cabinets will most likely have a plus effect on your selling price - provided of course you make changes that are consistent with the styles and needs of future buyers.  Finishing a walkout basement for fun and play can bring you a great deal of pleasure while you live there, and depending on the quality of effort, can bring a future payday as well.  

There are other improvements you may want to do to increase your enjoyment of your home, that may not affect the price.  These are changes you make for your current benefit.  There is nothing wrong with these, but you need to understand that not every change puts future cash in your pocket.  Changing the color of the walls to your preferred shades may or may not please future buyers, but if it helps you like your home better, why not?  You can always paint again later.  Replacing carpet with hardwoods, retiling a bathroom, or changing out bathroom fixtures are also things that you should just plan to enjoy! Replacing worn out HVAC, roof or siding are all desirable features for a buyer but these are parts of a house that are expected to be there and be functional.

If you think that you are going to need to improve the kitchen, change colors or replace appliances in order to maximize your opportunity to sell, the temptation is to wait until close to selling to make the buyers happy.  The question you need to ask is: if the change is good for the next owner, is it good for me?  Don't miss out on the enjoyment of improvements while you are living in your house.  You may end up liking them so much you stay.

There are many great on-line sources of trends in home renovations and home decor that you can check out any time.  Most big box stores, paint stores and real estate sites will feature this info. These show you the trends in colors, countertops, appliances, etc., that future buyers may prefer.  They may also give you some ideas for your own enjoyment, whether you pay someone to make the change or you take time to do it yourself.

Keep track, though, of what you invest in improvements, so you can review with your Realtor prior to listing,  It will help with valuation, as well as telling the story to potential buyers.  In the meantime, enjoy!