jjason

Homeowners Feel the Pain of Over-Improvement Syndrome

Good article Tim. It has been known for many years that you should not add improvements to your house if the neighborhood doesn't warrant it. If you don't realize that the new pool you want will (90% of the time) cost you money then you are misinformed. You might never get your money out of it. Except, perhaps, if you live in a neighborhood where everyone has a pool. Every real estate appraiser knows of situations where a homeowner's dream kitchen turned out to be a bad investment. As a former real estate appraiser, I had to tell many a homeowner that the appraised value of their home would not be in line with what they thought their house was worth. Readers should know what happened in the residential real estate market in New England beginning in 1990. It was a disaster...for the same reasons as today,plus some. You were right, Tim. Thanks for all the articles you have written on this subject.