Baton Rouge Homeowner Spends $60K in yard, WHAT WERE THEY THINKING?

By
Real Estate Appraiser with Accurate Valuations Group, LLC LA St Certified 851

A Greater Baton Rouge Homeowner spends $60,000 in their yard on a $240,000 newer home and now they're moving...WHAT WERE THEY THINKING? 

Of the $60K spent (not "invested"), home sellers may see a $10K to $15K return or a $45K loss. Over Improving Your Home is NOT called an "Investment".

 



These are the kinds of mistakes I see homeowners making each month throughout Greater Baton Rouge. They think they'll live there forever so they spend $30,000, $40,000, $50,000 and even $100,000 in their yards only to discover they've been transferred or lost a job or retiring and need to sell. When they sell, THEY LOSE TENS OF THOUSANDS OF DOLLARS! 

That was $39,000 just for the pool not including the expensive elaborate landscaping, $4,000 remote gate, $8,000 wood fence, extra concrete and luxury style arbor type covered swing.  

The part that doesn't make sense here is spending that much on a home only worth $240,000. 

As I always say, if you're going to live in your home FOREVER, add what you want and fix it up as nice as you want realizing that if and when you sell, you won't receive dollar-for-dollar for what you spent on the exterior of your home!  A Pool, Workshop or Metal Builiding, Remote Gate or extra concrete are not necessarily an "Investment" in your home.  It's money you choose to spend for your own personal preference while you live there!


Think before you do something like this! 
And, that's a more expensive gunite pool.

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Topic:
Home Improvement
Location:
Louisiana East Baton Rouge Parish Baton Rouge
Groups:
Greater Baton Rouge Real Estate
Tags:
baton rouge real estate
baton rouge
over improving
over building
swimming pool value

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Rainmaker
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Lynn Pineda
eXp Realty - Boca Raton, FL
Real Estate Promises delivered in SE Florida

Great post Bill on why homeowners need to pay attention to their improvements so as not to be the King of the Castle in their neighborhood.

Jan 24, 2014 11:18 PM #1
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Rainmaker
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Bill Cobb

Greater Baton Rouge's Home Appraiser
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