Will You Get The Money Back You Invest In Your Home? Many homeowners are considering making renovations to their house. The question is: will you get the money back as added-value to your home so you can sell it for a higher price? It depends, but in a  buyer's market that we are currently in, no. The decision to do a renovation should be based upon your own use and enjoyment, and not thinking you will make a profit. If your bath room or kitchen is very old and is in need of repair, spending anywhere from $5,000 and up for a  bath room renovation will improve your house when showing your property for sale.  But if comparable homes in your area are priced more competitively, chances are you won't be able to ask $5,000 more for your home because of your new bath room. Kitchen renovations can run into tens of thousands of dollars or more, so the effect of not recouping your money will be greater. For example, if comparable houses in your area are priced at $500,000, and you spend $30,000. on a new kitchen, you may recover either nothing to possibly only sixty percent of the money you had spent for the renovation. The effect of not getting your money back from your investment is more apparent for costlier renovations, such as adding another floor to your home or getting an in-ground pool. Spending one or two hundred thousand dollars to add a second floor will sure make your home nicer, but will most likely not add an equal in value to the market value of your home. You must consider your decision very carefully if you are planning such an extensive renovation. On the other hand, there are ways to add value that  will not be as costly and could improve the marketability of your home. For instance, you may have an attic that could be finished. The extra space could be just the thing a prospective buyer was looking for. The expense to finish an attic or a basement can be managed economically and may have a nice impact to the value of your home. In summary, if you are thinking of doing an extensive renovation so  you can profit when you sell, think twice or three times. If you are doing the renovation for your own enjoyment  - that would be the most justified reason! Contributed by M.S. Jazzetti Website: http://www.betterlifestyles.com