Don't Stick Out Like a Sore Thumb!

Location! Location! Location!

Everyone knows that location has always been considered to be the key to determining the value of a property. More recently the main consideration, in my view, has been Price! Price! Price!

What isn't generally known, however, is that weird things can hurt the value of a property in a good location.

So while a nice house in a good neighbourhood is worth more than an identical home in a rundown area, this doesn't necessary apply if the house sticks out like a sore thumb.

If the design of your house doesn't conform to the “flavour” of the neighbourhood, it may not attract the same price on the market.

For instance, a house that's painted tomato red will look ghastly against a backdrop of homes in soft island pastels.
A Swiss chalet surrounded by Colonials will look odd.

If your home is 5,000 square feet, but the other homes in the neighbourhood are generally 2,500 square feet, you may not get the full value.

While designer kitchens are a big draw, there's a limit to what you should do if you're in a middle income community. Don't expect professional stoves and marble kitchen countertops to significantly up the value of your home if you're in a Formica neighbourhood.

You get the picture.

If you want to upgrade your home for your own pleasure, then go for it! However, if you hope to recover some or all (or even more than 100%) of your investment, don't go overboard and make sure any improvements fit in with the environment.

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