Exactly! People kind of look at me funny when I tell them about the restoration and improvements I want to do on my house because they are rather extensive and would far outweigh the resale value. This house is something I plan to leave to my kids some day.

From our point of view this house is an investment of sorts and what few improvements we need to make will hopefully up our resale value, all assuming the market gets better. We bought this house with the intention of moving again in 4 years. If the market still sucks and we find we aren't going to make money then that's ok too, we bought the cheapest house in the best neighborhood with the best schools :)

I read Arieff's column last week and loved it, but if the design shows are any indication this trend isn't stopping anytime soon.

i think there is a balance between going crazy with whatever you like and thinking about future investment.
I would really only not think about investment if it was going to be my absolute last place that I was going to live in, and didn't care to sell it in the future. Otherwise, the resale is always a bit on my mind, while still remodeling to my liking.

When we were considering some improvements to our 2-BR/1-BA house, a realtor advised us that the best plan for resale value would be to add a two-story addition with a family room, master bedroom and master bathroom.

She might be right, but we just don't need any of that. There are only two of us. So we're going ahead with the smaller projects that will be more useful to us, and for which we can pay cash.

I'd like our house to be just for us, but we're not going to be here in four years. If we want to get our money back (and maybe even make a little more), we HAVE to think of future owners. Then we'll have a little more money to buy something more permanent.

The first home you buy isn't often the one you stay in for the rest of your life...

@heather77, Yes, don't burden yourself with more debt, housework, and utilities expenses than necessary. More small families are buying houses than in the past. Especially if you like gardening, your house can be like a jewel in a jewel box. If the location is good, the price is right, and what there is is turnkey, well maintained and upgraded, then your house should be snapped up when it goes on the market. Meanwhile, you'll have what you want, and no more.

I don't love the architecture of my house, the layout, or the area all that much, and I don't intend to be in it for the rest of my life. But I still decorate/design it to make me happy, not for resale. For big things like tile, I'll go a bit more classic, but I just finished painting my bedroom ceiling black, am seriously considering painting my refrigerator pink, and have painted my hardwood floors. I don't care what the next people will like, I'll worry about that when I sell...and I'll do the whole beige and boring thing then if need be.

Yes!

My husband and I try to balance resale with our tastes. For the big things that are installed, we try to go for things that will blend with most any style. I am still having a hard time with the idea of putting in granite, when there are much better products on the market (still trying to weigh the cost/benefit of different materials for kitchen counters).

Word up!

Our first house was supposed to be our forever house but we craved more land and ended up moving. That house and our new house were/are fixer uppers so anything that we did/do to them is an improvement.

Our old house sold for a tidy profit and all the renos we had done we for us, not for some imaginary buyer.

We will do the same with this one.

Ugh - I remember my Mother being so concerned about resale with our old house that she refused to paint and put up neutral curtains, etc - None of which helped them to sell the place as they had to repaint anyway before putting it up for sale!

Unlike rental property,the house that you live in isn't an investment and it isn't an ATM. Houses, before the bubble, never appreciated much more than the rate of inflation, plus a percentage of the cost of certain improvements.

It's that "House = Investment" mindset that got this country into the mess we're in now - And folks who think "Oh, I'll wait till the market comes back" are going to be waiting a Long, Long time.

I agree, but I will say as a first time, single woman homebuyer, buying a home that would suit the needs of an imaginary future family just wasn't practical. And since my current home was in much the same condition (amenity wise) as when it was built in 1987, it was imperative that I update it in anticipation of selling one day. I thought, better to do it up front and enjoy them myself, than to wait until the changes only benefit someone else. Plus, while I am sure there are a number of other dated townhomes in the same community, and other buyers willing to buy them as start ups, I have to believe an affordable house with a lot less work will be more valuable to a prospective buyer. I have made some decisions on limiting myself, including to go patio rather than second floor deck because the expense of having to get approved for, cut out, and install a second story sliding door in lieu of the window that is there. I just want to enjoy my backyard more, so I am going to make just the changes that allow me to do that, and let the next owner add the big bad deck. Yes, I know it ups the "resale value", but the upfront cost to me just is not worth it. That basement bathroom, now, that WILL get an overhaul...

I think the author's thesis, that people remodel with the imaginary buyer in mind is actually more of a symptom than the problem. People buy a house just to buy a house, not because they're ready and intending to stay.

I'm getting a lot of pressure to do this from family, from coworkers, from random nearly-strangers at the bus stop, even! But when I buy a house, it is going to be the place I intend to die. If that means I don't buy anything until I'm 50, so be it. I've got a gorgeous apartment in a nice neighborhood and from where I'm standing, that looks like a great place to be.

I like this quote and agree it is the way things should be, but Matt in KC is right, if the house hunting/design shows are a snapshot of what people want then it appears most are like sheep looking for what they are told they want or need and haven't really given much thought as to what their own personal needs/desires are.

I read this column and completely agree with the quoted statement. I've never understood the "resale value" mentality on either side of the transaction.
I have to say, however, that I found some of Ms. Arieffs other statements in the article pretentious and blatantly hypocritical, dissing much of what she, formerly of Dwell magazine seemingly glamorized as their editor.

I agree with this quote - but on the flip side, I do think homeowners should think about the future sale of their house when it comes to maintenance. Case in point - my father refuses to spend the money (even though they have it) on necessary repairs for their house. I tried to convince him that he will end up paying for these things when they sell (either because they will then have to make the repairs, or in the form a buyer credit), so they might as well do them now and enjoy them - but to no avail. So in that case, I do think it makes sense to think about resale value.

I found the article provocative and a nice counter to the counsel you might get from some friends and realtors.

That being said, however, we all have to be aware of the risks of over-improving any house in relation to its size, the neighborhood, etc. IF recouping your investment is a primary concern. I just bought a great house with multiple built-ins throughout it. While they costs the previous owners a great deal, I didn't value them as much ... nor might I add did the assessor for my loan.

Helpful post--I've been juggling all this for decades. I emphasize maintenance and repairs. Virtually no upgrades will be fully recouped by a resulting sale price increase. Unless I'll enjoy upgrades, I won't make them. I give up trying to please someday buyers!

I seem to move often, so doing anything "too custom" isn't smart. Maybe one day I will find a place that I can make my own (Winchester House, anyone?).

@Miami's Elaine--You're absolutely right! I do like gardening, and I think of our house as a little jewel box :-) Though the house is small, the yard is huge and very private, and we wouldn't give up any yard space for an addition that we don't need.

Well, we chose to build a new house and sell the old one rather than upgrade to become the most expensive house on the block. My partner wanted his home theater, and I'm into much more landscaping than the new neighbors, so we are STILL likely the most expensive house on the block (but not by much, at least).

I think the critical thing is maintianing your investment, regardless of whether or not you plan to move. Things happen in life, and you never know when selling a house might become a necessary, if unhappy, decision. It had better be in good condition, not a fixer-upper.

I figure I'm living in the house where I will be when I die. My partner (after only 2 years here) keeps saying things like, "in our NEXT house, we should..."! I don't think I can take even one more move in my life -- I'm all moved out. Hopefully, he's joking!

@SherryBinNH, Yes, it really pays to make plans that have built-in flexibility in case of the unforeseen. Also, a good thing about landscaping is that if you enjoy gardening, over time you can do amazing things at little cost. I knew a family that had the prettiest garden on its street, and all of their plants had been started from free discarded cuttings.

I think that one day when I buy a house, I'm going to try and go for a balance, since chances are fairly good that the first house I buy will not be the one I stay in forever. However, mostly, my decision will be made out of love. The place will have to "speak" to me, give me a good feeling.

I think my decorating choices will be made on the same basis. I've never understood the concept I'm seeing on HGTV and whatnot of re-decorating your whole house just to sell it. Honestly, are there really people out there who don't realize that they can change the paint colour when they buy the house, if they don't like it? Or that the furniture/decorations/etc will not be there when they move in?

I understand staying on top of maintenance and making repairs with resale in mind, but I think I'd do those things anyway, for my own benefit. But the cosmetic stuff? That's going to be all me. I'm not going to decorate my own house for some person I don't know. I'll keep it tidy and neat for showings, and thats it! :)

This is why I hope the bubble bursts in Australia, everything here is thoroughly unaffordable, public transport to outer areas is extremely poor, and they're not building enough to keep up with demand.

My thoughts are that if I love the improvements, surely someone else will too. So do what you feel is right, and if you sell, the right buyer WILL show up.