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Old 04-16-2009, 07:22 AM
 
Location: SW Austin & Wimberley
6,331 posts, read 17,038,857 times
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Well, I always think in terms of resale value. You might not, but if you do, then here are my thoughts.

There are different levels of finishout appropriate for different neighborhoods. Call them "Basic" (Toyota Corolla), "Standard" (Honda Accord), "Designer" (Lexus).

If you live in a basic starter home neighborhood, no frills homes, formica counters, sheet vinyl flooring. minimal landscaping, cars parked mostly in streets, etc. - then you go with laminate or low end engineered flooring because you just can't get a price value return on over improving the home. Think leather seats in a Yugo. Same concept.

In a Standard neighborhood, you have more leeway, especially if some of the homes have granite/stainless and better wood flooring.

In a Designer neighborhood, you hurt the home value by not putting in better products because it will stand out as a "cheap" home in that neighborhood.

So, bottom line, do what your level of home and neighborhood calls for, nothing more or less. The one justification for over-improving is if you know for certain that you will live there a long time, and/or you simply are doing it for your own enjoyment (sort of like building a pool) and don't expect a financial return.

Steve
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Old 04-16-2009, 02:58 PM
 
Location: Austin, TX
326 posts, read 727,989 times
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Originally Posted by austin-steve View Post
Well, I always think in terms of resale value. ....
So, bottom line, do what your level of home and neighborhood calls for, nothing more or less.
This makes good sense. However, it's not always that obvious for some neighborhoods, especially for those old ones (like ours) where some homes are remodeled by owners/investors and others remain their original style. We have been debating whether we should remodel our kitchen and bathrooms that have original 1950s everything (bright yellow, black and green tiled counter tops, floors, and the tiny showers).
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