Saw this on AOL this morning.....................Not all renovations are smart ones. If you overspend on a kitchen or bath renovation, you're less likely to recoup that investment in the market. Keep in mind that the value of your home is tied directly to the property value of surrounding houses. Before splurging on a major remodeling project, find out the value of comparable homes in the neighborhood, as your price will vary relative to their worth. You don't want to be the best house on the block-your neighbors are pulling your value down. You'd actually prefer to be the worst house on the block, because then your neighbors are pulling your value up. So before investing in that new chandelier, find out how your house ranks among your neighbors. You might just be better off investing in a new paint job, fixing a sidewalk, or re-wiring your home.
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