Can You Over-Improve A House That You Never Plan To Sell?
This is a question I’ve been thinking about quite a bit lately. Is the concept of over-improving a house even a consideration if you never plan to sell? Now obviously, if you buy a house and plan to live there for just a few years and then sell it and move on, over-improving the house is something you’d want to keep in mind. You can’t just pour all kinds of money into the house and expect to recoup that money when you sell the house if the cost of the improvements you’ve added place the house way out of the price range of the neighborhood. I think most people understand that concept.
But what if you buy a house and you never intend to sell? What if that house is going to be your forever home, and you want it just so, and you’re willing to put the money into it to make it just so, and recouping the money at a later date isn’t something you even consider because you don’t plan to sell?
Obviously, the reason I’ve been thinking about this is because (1) I’m currently working on the final room of our current house (my studio), (2) I have some things I want to go back and change in previous rooms, (3) we’re about to start on an addition, (4) I’d still like to build a workshop in the back yard, and (5) I have lots of landscaping plans for the future, including lots of plants, a walking track, and a few structures (pergola, a new storage shed, etc.)
Many of you who have been with me on this journey will remember that we bought our house for $80,000 in August 2013. It was in rough shape, and in desperate need of some attention. But it had “good bones” and sat on a one-acre lot in a pretty quiet neighborhood, so I was sure it was the one. And somehow I was able to see the possibilities even though almost no one else could.
I have never kept a running total of how much we’ve spend on our house because we’ve always had the mindset that we’ll do whatever it takes to make the house what we want, customized for us, and we’ll stop when it feels finished to us. But while I don’t have a total, I do remember the big numbers for the biggest projects.
The first remodel I did in the house was the kitchen. I DIYed the whole thing to keep costs as low as possible, and it ended up costing $10,000.
And now here I am considering an all new kitchen remodel when we do our addition. (I did that previous kitchen remodel ten years ago using the cheapest materials I could find because that’s all we could afford, so an upgrade after a decade seems reasonable to me.)
The hallway bathroom was the second remodel I did in the house, and if I remember correctly, that came in around $9000. This was the very first remodel, but since then, it got a colorful makeover, and after I finish the studio, it’s going to get another new look.
The original studio remodel (i.e., just to get change the structure from a garage to an actual interior room) came in around $40,000, which included the addition of a half bathroom and an HVAC system for these rooms. That cost didn’t include insulation, drywall, flooring, or any of the finishing details. All that paid for was getting it to this point.
I don’t even remember how much the insulation, drywall, flooring, and everything else cost, but I do know that in this current phase of trying to finish the room, the IKEA cabinets alone came in at $6200, not including the cost of customizations.
After that initial remodel/restructuring of the garage to my studio, we then decided to add the carport. In total, with the finishing work we just had done to it, the carport came in around $30,000.
And the final big number I can think of is our bedroom-to-master bathroom remodel, which came in around $40,000.
So only counting the big numbers for the big projects I can remember off the top of my head, and not including all of the other projects I’ve done in all of the other room (all of which have new drywall, new insulation, and new wiring, on top of all of the decorative stuff), that’s a bare minimum of $135,200 that we’ve put into our house in the last 10 years. If I had to take a guess at all the other stuff, I’d guestimate $50,000 as a bare minimum, very conservative estimate. (I actually think it would be much higher). So that puts us around $185,200. So including the original cost of the house, we’re sitting at minimum $265,200.
If we were going to be completely finished after I finish the studio, that number would look very reasonable. Very reasonable, indeed. Even if that true number is closer to $300,000, I think it’s still very reasonable. I mean, just try to build a semi-custom 2300 square foot house these days for $300,000! I don’t know if that would be possible.
But we’re nowhere near finished. 🙂 We haven’t even started our addition (which the contractor estimated at $200,000), and we still need a driveway ($20,000), and I’d still love to build a workshop ($20,000), plus landscaping (who knows?), and a new storage shed ($10,000), and on, and on, and on. It can all start to feel very overwhelming.
All that to say that this has actually started to stress me out lately. I sometimes wonder if it’s worth it. I try to tell myself that since we don’t take vacations (literally not one single vacation in our 21-year marriage), and we don’t spend money on extravagant things or expensive hobbies, and our lives are mostly spent right here in our home due to Matt’s M.S., it’s okay to make our home extra comfy and cozy and customized for us. But I do wonder lately…how much is too much? And is over-improving our home something that we need to worry about even if we never plan to sell it?
Things would be so much easier if I would just win the lottery. But I’m told you have to actually buy a ticket for that to be possible. 😀
Addicted 2 Decorating is where I share my DIY and decorating journey as I remodel and decorate the 1948 fixer upper that my husband, Matt, and I bought in 2013. Matt has M.S. and is unable to do physical work, so I do the majority of the work on the house by myself. You can learn more about me here.
Not only don’t you SPEND money on things outside of your home… but doesn’t this blog MAKE you some money…? I say make your home exactly as you want it. It’s your home/work/vacation/rest/EVERYTHING place! Make it as useful and enjoyable as you possibly can!
I was getting ready to say the same thing as MP! I also think that doing these projects brings you joy, and it gives you and Matt something to collaborate on… that’s so important! Focus on that instead of the money. I’ve been following you before you bought this house and can’t wait to see what you do next.
: )
I agree with MP. Keep on making it as comfy as you please.
Do it for you & Matt. The decorations don’t count. You really only count the things that would stay with the house if you were to sell – which you’re not. Remember you can’t take it with you so do what makes you & Matt here & now.
I can *always* find ways to optimize, that’s how I tick, but is it “Lagom” (Swedish for goldilocks just-enough-ness)? Then I have to stop. Because there’s a pricepoint beyond which I can’t enjoy something, no matter how perfect it is.
And while resale value might not be a consideration, it is strange to have a villa (f.ex) amongst modest homes.
Well, if it’s any consolation, you’re probably $10,000. ahead in not having bought lottery tickets. This is your hobby and kind of your job (as a blogger). I think those of us who have hobbies agree that it’s not really good to keep a tally of what you’ve spent on your hobby. They’ll never bring what you have in them. But the enjoyment in planning and seeing it come to fruition, the energy you put into it, the knowledge you gain…..it’s probably all worth it. Will it ever sell for what you have in it (after your time)? Very likely. You have 1 acre. Not many have that any more. Do what’s making you comfortable and happy.
Wow…has it really been ten years since you finished the kitchen? I’ve been following you since you were still doing projects in your old condo! I think since you don’t plan on ever selling your house you shouldn’t worry about over-improving it. It’s YOUR house. YOU live there, and it should be exactly as YOU want it. And Matt, too…lol.
Okay… Yes, you can over-renovate a house you never plan to sell. But who cares? If it’s your forever home, you won’t have to ever worry about selling it. With forever homes, it doesn’t matter if you over-renovate. We’re in the same position, although we haven’t spent nearly as much as you have. We bought our forever home in 2015 and didn’t move in until 2016 because we were renovating. We had the luxury of not having a mortgage or a rent payment, so we could live in our old house while we renovated the new one. My husband is retiring this year, so we’ll start doing some other projects we’ve been waiting to do… My long-winded way of saying, make it right for you, and don’t worry about it. 🙂
I think yes its true that remodeling your house has been made possible because this is how you make your living so what else would you do? It allows you to work and be home with Matt. On the other hand your life could take unexpected turns which might make you want to sell it later. Still with housing costs these days if it sold for 450-500k and a buyer just really loved it I’m not sure they’d care that the rest of the houses there aren’t worth that. They will be when people buy those up to remodel too as prices keep going up. In the meantime we’re all still going to be with you as you continue working on your house and you won’t have to think too soon about what direction you take the blog to continue to have an income.
Well as you say: you don’t take vacations, so your house is your shelter, sanctuary, hobby, blog-source and everything else all in one. To be honest, I think even with all of your future plans (and even though the numbers are scary when you put them in writing!) I still think it’s a good deal for what you’re getting (your house size + your lot size and the quality of what you’re doing). (Of course, I know nothing about your local real estate market, but I guess prices have gone up since a particular couple started doing their tv shows there?)
As long as you can afford it (and you’re not going into debt or sticking it all on high-interest credit cards!) then do what you want: it’s your house and your life.
(Oh also, you’re adding up 20+ years of spending. If I added up how much I spent on ANYthing over 20 years, it would be shocking – and that’s just stuff like eating out that here today, gone tomorrow! It would be far better if I’d spent that on my house!)
This is an interesting thought exercise. I feel like there is a magic number that should be spent on our home on maintenance and upkeep pretty much yearly and that to me means keeping the home stylistically current as well. If a home was purchased prior to the 2020 real estate craziness and especially if it was purchased under market value and the buyer needed to then bring the home up to market value with capital improvements the buyer is playing with house money. If the buyer has no intentions of selling in their lifetime, then they should make the space to their living ideals (as long as your not violating local code). It always a good idea to keep an eye on the local comps, but a lot of the improvements you’re talking about bring your home into another tier of comps (adding a bathroom and a bedroom, adding more square footage, adding a garage/outside storage). I don’t know if the old advice still rings true to buy the worst house on the best block in the current real estate market and i think improving a home only benefits the neighborhood market.
I agree and basically came here to say this. Adding square footage and amenities will definitely increase the home value and you are more than likely to get what you’ve put in it. We bought our forever home for a great price at the start of the pandemic– before the market went crazy in SoCal and eventually refinanced down to 2.5% interest. We are on 3 beautiful oak-studded acres in a really nice area outside of a major city with an ecological reserve behind us. As far as we know, we are never moving, lol.
We put in all new landscaping and drip irrigation around the pool, dug a well, installed whole home water filtration system, new water heater, added 30 more solar panels (for a total of 62), converted all lighting to LED, built an outdoor kitchen, a pizza oven and fire pit, enclosed the back patio to keep critters out (we have rattlesnakes, tarantulas, and scorpions, oh my!) plus it provides our indoor cats a CATIO, removed lots of diseased trees and generally cleaned up the property, planted 37 more trees including lots of fruit trees, painted the entire interior, remodeled one bathroom so far (3 to go), replaced main bath counter and added LED lighted mirrors, remodeled main closet with lighted rods, new drawer fronts, and knobs, built two sheds, and installed cabinets in our metal out-building we refer to as our “shop.” Throw in all new appliances including W/D, a new HVAC, new pool equipment and heater, and we are well over $200,000. In the process of building out my husband’s office with cabinets/desk, and we have a permit application in to convert our front patio to a sunroom adding more square footage so even more $$ going in.
Between the crazy equity increase we’ve already seen, our $500k capital gains deduction and what we’ve spent so far we would definitely owe in taxes if we sold but we couldn’t find a house on this much property for the same price and who wants to increase a mortgage rate from 2.5 to 8%? But, at the end of the day, who cares? In the end, our kids will get a stepped-up-basis and, like someone else said, it will all be gravy to them (actually, my local-college student daughter says she’s never moving and she wants to be married on the property!). In the meantime we are living in our dream home, it’s absolutely perfect for us and we are enjoying every minute of it! You do you Kristi and enjoy your own paradise!
Your home is paid for…No matter what you do your ahead of the game.m
You get enjoyment and utility out of your improvements each and every day. If you spent $180,000 over 10 years, did you get $1500/month enjoyment and appreciation in your current home compared to the home you purchased? If the answer is yes, any money you could get back by selling is gravy. I plan to stay in my home long-term and I’m doing what you’re doing – setting it up for a long stay just the way I want it. Why should we live in a home designed for someone else when we’re the ones living in it? As long as you can afford these improvements and no one is going hungry or without medical care, you’re 100% FINE! 🙂
There is a big difference between cost and value. Yes, things cost a lot and you put a lot into your home that you might not recoup. But the value lies in the functionality of your home. If you did have to resell I think you will be pleasantly surprised at how well the home does, especially with the new bathroom and the studio conversion.
It’s all about you, whatever makes you happy living there…we used to joke that while others go out partying on Saturday night, we stayed home and spent that money and time to wallpaper. On Sunday morning, they were hungover, probably not even able to remember the night before, and we had a room with wallpaper. Not that that we were ever partied much, but we do buy an occasional lottery ticket
😂
Ooh-ooh-ooh, don’t worry, be happy! Since it’s your forever home I’d do what I wanted. I have no children and am leaving everything to my nephew so large or small amount, it’s more than he had and he’d rather see me happy than than think he got a bigger payout because I didn’t live happy. (He’s the greatest “kid” on earth and I might have had my own if I were sure they’d turn out like him.)
Too bad the current tax code isn’t very friendly to successful diy and decorating blog businesses like yours so you could write off some of the expenses as necessary for providing continutally useful and beautiful content.
All of which is to say I’d go ahead with my plans if I were you. Who knows where real estate prices will go anyway.
I don’t know about over improving, but my husband and I have bought and flipped many houses over the years. His career made many moves inevitable. Now that he is retired, we were going to flip this last one, but I like it and I’m staying put. I can finally put the colours I WANT in the rooms and not what is generically going to sell. I don’t have to worry about idiosyncrasies in the basement or leaving a room unfinished until I decide on what I want. In other words “I do what I want”. FINALLY. The feeling of freedom is quite exciting after 40 years of “you can’t do that it will ruin resale”. Enjoy your home–it is gorgeous.
Yes! We have over built, over improved our home in the style we like, without having to think about resale, since we have no plans to sell. Awhile back we had an appraiser at our home and was told we had over built for where we live. That’s fine with us. Our kids will have to deal with selling it! 🙂
You definitely can’t equate what makes your home more functional for your life with over improving. Especially if you plan to stay indefinitely.
My thought is this: Who the heck knows what things will cost in the future? Who knows what your area may be like in the future? Who will be the disposers of your home after you are gone? Do you have an obligation to leave them a financial gain? We bought our first house in 1975 (new build) for around $95,000 I think (hard to recall that far back!) I know it had to be somewhere around that, as newlyweds, we didn’t have much savings. We lived there 27 years, did numerous renos/upgrades, including finished basement (twice, due to water penetration), total kitchen gut/remodel, family room and laundry addition of 150 sq. ft. plus 10×10 covered deck and 14×24 lower deck. All new flooring a few times, siding roofing, painting and landscaping . The whole place was the best house on the street when we decided to sell in 2007. We sold for $155,000 and built another home for $165,000. Sold that one in 2016 for $250,000 and built our present home, which will be our last, unless we decide to get a small villa in a senior living place! We are now in our 70’s, and while we sometimes think we should have just stayed in the first place, which was almost perfect, it still had tiny bathrooms and a dinky kitchen I hated. The neighborhood since then has only declined slightly, as the city it is in is still a most desired city of the county it is in. I think the biggest advice I would give anyone, over the first lines written above, is to make sure you are keeping up with maintaining your home, repairing and improving as needed, and improve for your needs. Hopefully, if you decide to move on, someone else will come along who falls for your home, but for now, you do you! I’m sure a realtor would say differently, but for example, our last agent suggested we list for a lower price, but I had a feeling we had a nicer home than the neighborhood “suggested” price, so I asked him to list at MY price. We had an offer that weekend for $2,000 less than list, and held steady, back and forth we got MY price!
I think the overimprove for yall would be what insurance would not rebuild after an emergency. That would be the biggest concern being sure the home is insured well enough to actually replace what’s lost. I remember someone in my past advising setting aside 5-10% minimum to be ongoing repair/emergency fund. You spend that to replace big ticket with something better, to improve the homes bones. Put extra in that fund when you can, to improve or save for rennovations. Also, always update the policy when you do these things. So it’s covered, and to see if it can reduce a risk, and your premium.
Good point about the insurance. I hope she heeds the advice. It will give her more peace of mind.
Tricky question. We’ve improved our home into something more than the norm in our neighborhood. Not a LOT, but enough that I start wondering. Will it hurt us when we sell? Perhaps some. Has it been worth it for me since we’ve been here 45 years? Yes.
And we also have done most of the work, so although it’s worth X amount because of our improvements, we haven’t actually spent as much as someone who hires everything out.
The bigger deal for us is that we are beyond the $500,000 capital gains limit, even deducting our improvements costs. Between improvements and the crazy real estate market, we are well beyond that. Ugh.
I love what Ruth Josey said. Spot on!
Since you paid your house off early, think about all that interest you have saved. Most Americans pays hundreds of thousands in interest alone and nobody thinks twice about how much interest they have paid when they sell the house. I think you will be fine doing what you are doing. Go for it girl!
Here you are with a great house produced by taking risks, seeing the potential of doing things few people would have dared to do, as viewed by a cast of hundreds who are watching the process. Besides, you get positively giddy over seeing the results of your vision and labor. And for good reason. You may be bone-tired doing all that while taking good care of Matt, but it’s fun for you and it’s fun for us. You keep going back for more and we applaud you. Is it worth it? Absolutely!
For example, that master bathroom took ages and it was worth every dollar and hour to make it what it is. Ditto for the gym striped walls, the art pieces, the fabulous pantry, the guest room and all the rest. I doubt you will ever be finished. Why should you be concerned about that? What lies ahead will be new challenges, new color decisions, new corrections of whoopsies, and new whatevers. Joy in getting it just the way you want it.
Side point: I am always impressed by the generosity of spirit reflected in the comments of so many who post them here. They willingly share their knowledge and experience as they cheer you on. Thanks to all of you who do that.
Realistically, we never know what will happen in life. At some point deciding to sell your house may come due to new circumstances that make it the wisest option. If so, I wouldn’t be surprised if one of your viewers would be first in line to plunk down the dough to buy the famous “House of Kristi and Matt.”
You’re right, I’ve always thought of Kristi and her “tribe” as being real, positive, helpful people. I agree with everyone here. It’s you and Matt’s house and if it makes you both happy then continue to do what you want and have fun! It’s always a pleasure to read and learn new things from you.
I say, who cares? You plan to live there “forever”. Make it what you want and are comfortable paying for. A one acre lot in Waco can only be a positive. IMHO. No one knows what the future holds, so dont stress over what may/may not be years down the road. Hakuna Matatta. (One day at a time)
Dear Kristi, am I wrong or is your blog your source of income? Then putting money into your projects earns you money back and you can deduce part of the money as material towards your job. (I sincerely hope that your tax system actually allows you to deduce money from what you spend as it work-related, but even if you cannot, it surely helps with getting over the sums you enumerated ;))
I would def say that if you improve your house to be exactly as you and Matt want it, that is not over-improvement, even if your surrounding houses were a different caliber. Interesting topic that made me think about our home as well, so thank you for that food for thought!
Very interesting topic. Yes, you can spend more than you feel comfortable with spending. I grapple with this as well. After your addition is complete, will you need an enclosed woodshop? Or can those tools be stored in an enclosed storage area that is cheaper, easily accessible & connected to the carport? That frees up $$ to spend on outdoor living spaces, walkways, garden trees & plants. Can you add additional storage in the breakfast room & consider just changing the pass though area in the kitchen? Can you easily add any additional storage inside the pantry? The bathroom updates you have discussed are not major expenses so I wouldn’t worry about them. The driveway is a major expense. You could concrete two tire paths & gravel around those or just concrete the car entrance to the garage & resolve the height difference w the ground? Then use a nice chat gravel packed driveway which is cheaper & durable in a low rain, flat area? That is frequently seen in the South. Those driveway paver tiles are another option.
If you approach with your discerning eye & plan with detail & clarity of purpose that you demonstrate I think you will be fine. As my mom always asked, ” Is it a “need to have or a nice to have”? Can I do it myself & have it be what I want & need? Then prioritize & move forward with your answers.
You have to keep in mind that ANY house requires things to be replaced. Just because they wear out. You haven’t subtracted normal maintenance/replacement costs from your big number.
Some people travel, some people attend concerts, theater and other expensive entertainment. Some people go to clubs, drink expensive cocktails, and eat out most of the time. Some people have to have the most fashionable clothes or the most recent iPhone. There is no financial return on those things. This house is your creative outlet, your entertainment, the basis of a source of income, your home, and the thing that brings you joy. You know you aren’t getting that money back and that’s ok if you aren’t banking on the house’s sale to fund your retirement.
Don’t over think this, it’s your life and you’re living it the way you want.
And in the end you’ll end up with the home you want. Win-win!
When I’m deciding about investing in an expensive improvement, I ask myself, will this upgrade enable me to do something that will significantly enhance my quality of life? If yes, then I go for it. If no or maybe, then it goes on my “If I win the lottery” list.
Many good, thoughtful comments have been left; I enjoyed reading through them as much as your post- you’ve gotten us all thinking! It’s been a pleasure watching your process and progress in your house. I would think that making everything accessible for Matt, would be a big selling point (if you ever chose to) for a potential buyer who needed wheelchair access. I believe we ought to be wise with the funds we are given, and it seems that you’ve done just that. And I’m so glad you’ve been able to!
I over improved my own home thinking that it was a forever home. Now I’m realizing this is not where I want to be when I get to retirement. If I could go back and change decisions, would I? Nope. I have throughly enjoyed living in a beautiful home that works efficiently for my lifestyle.
This. We have ‘overimproved’ a few homes but enjoyed the changes we wanted for efficiency/flow/etc. We had planned to live in the homes longer but ended up moving. Some homes made more money than others but ZERO regrets making the changes we wanted.
Kristi, it does actually help to win if you buy a ticket, but it you don’t buy a ticket you will not lose. I lived in Lawton, OK at one time and built on a 40×40 room which became a large closet, a full bath, and a laundry room plus a wonderful bedroom with patio doors out to a covered patio. When I got ready to sell it, I didn’t come close to the figure I had spent on it. However, I had lived there for many years and totally enjoyed what I had so it was ok with me.
Then we bought a house in Woodlawn, TN. I moved walls, wallpaper, paint colors, brand new windows and my husband built a great wood shop. We lost money when we sold, but again we had enjoyed it.
Moved to Clarksville, TN. New roof, new wooden fence around almost an acre, new patio, new “bridge” up to the back yard level, new tile in the wet areas, new actual maple wood floors, built a room into the attic, brand new windows, new air conditioner, new appliances, oh my. My husband built a $46,000 workshop. We lost money but I had loved all my ideas!!
Moved to Waco, new wooden floors over concrete, 22 new windows, 3 new air conditioner systems, enclosed a shop for hubby. Love it, but if he should die, I can’t afford to live here so I would have to move. Sometimes things change our “forever” plans. My thought is I can’t take my money with me when I die, so I might as well enjoy it. Crazy idea I guess but other people drink, smoke, have boats, have a house full of kids, etc. We don’t do any of that; kids are grown and gone, we more than tithe and try to live a comfortable life. We don’t vacation either. We just like to be at home.
My point is if you can afford the do what you do and you enjoy it, go for it. Can you afford the payment on the addition money if Matt should die? Or you should die? If you are forced to sell it for some reason you have not planned on, have you overbuilt for the area? Somethings to really think about and consider. Sorry I took your whole day to read this!! I’m almost 75, you are just 50. We are going to think about life situations differently.
Ever heard of the saying “the road to hell is paved with good intentions?” Circumstances DO change, some for the better, some for the worse.
What are other houses in the neighborhood selling for, keep that in mind when putting big bucks into your house. Everything has to be considered.
Kristi, spend as much as you want on your home. It is your home but it also is your job. I had a thought in seeing your lists of future projects. A storage shed and a workshop were both listed. Instead of spreading the amounts you listed why not get pre-built sheds. If you purchase repo you’d probably spend under $5,000. Then when you have your driveway poured pour slabs for your storage shed and workshop. Probably minimal work would be needed to the storage shed. And the workshop would need the basics like insulation, electricity etc. Your wouldn’t need drywall. I keep thinking that by the time you get your workshop you won’t have much to build in it anymore. I’d love to see you get to use a workshop now.
Right now at ~1700 sq ft, Zillow says your house is worth between 216K-300K. Obviously the bedroom addition will increase that. I also tend to think that Zillow is usually on the low side based on what I’ve seen them price some houses that actually sold for more than was estimated so you’re definitely not losing money.
I wouldn’t worry too much about overbuilding at this point. Another obvious point is that Zillow can’t see the inside of your house and see what has been done with it. Anyone looking at your house would be thrilled to see what you’ve done with it. It will not show anything from 1948 when you get the back porch torn off and a master BR finished. It’s going to be beautiful.
You watch Garden Answer, right? The amount of money that the creators of that channel put into their landscaping would be completely indefensible if they were not making their living from it. You can’t use normal rules when improving your property generates income.
But really, you never know. There’s a lot of different things that could happen that might make selling seem like a good idea. If you were to find a house that was already what you want: more room, landscaped yard, beautiful out-buildings–everything done–would you be open to moving to something better? What if your neighborhood really deteriorated? For the cost of the remaining work (addition, etc.) plus what you could get for your house as it is, could you buy something that is gives you everything you want? It’s a good idea to ask that question before each big expenditure, even if the answer is to stay put.
I think if you pay-as-you-go without taking out big risky loans, then add to your heart’s content. If you need to wait a while to save money for the next project, it’s a good time to practice being content with what God has provided so far. I love your blog!
Realtor here…
Do what makes you happy and what you are financially comfortable with. It does seem like the numbers are adding up but if you are comfortable with what you are done and doing in the future you need to close your mind to the outside chatter. Contact a trusted local Realtor to do a cma of all the upgrades in todays market. That might help and you would gain some good market insight. But in the end, don’t apologize for what makes you happy. Especially when you have paid cash for the majority!!!
I never thought I would sell my second home back in 1971, the neighborhood is still in good shape, and the house still looks decent on the outside, as I have not been in that house since 1988. It was sold, along with 8 other homes. I am in my 9th home I can tell you out of the 9 homes I’ve owned, I never thought I would leave 7 of them.
The short answer to that question is NO, you are creating something that you actually want and need to the specifications that meets Matts needs, ..and if you feel you need to hire out a few jobs don`t beat yourself up about it and when it is all done you can look around with pride knowing you are responsible the the beautiful house & garden YOU created, that both you and Matt can enjoy
I was thinking the other day about resale.. You redo your whole kitchen and if it’s done well, the price of the home goes up.. At that moment.. If you sell in 20 years.. Its a 20 year old kitchen.. Obviously I am not a real estate agent or house appraiser.. But it seems to me that people who paint there houses beige and gray and worry about resale and appealing to the masses are not your people.. Your people are colorful.. Fearless.. And strong.. And there are other colorful.. Fearless.. Strong people who will buy your house.. That your aren’t selling anyway..😂😂😂 no worries..
Wow…. But I love your house!
I’m late commenting on this post, but for your peace of mind, I suggest you alter your thinking slightly: It’s possible to over-improve a house way beyond the neighborhood–BUT this is not just your house! It’s also your work site and project center, Matt’s care facility and med spa, Matt’s rehab facility, your recreation and fitness center, your vacation and rejuvenation spa . . . if you create an imaginary budget to pay for all of those purposes and accommodations, you’re just in a single location that meets all of those needs and can be adjusted for new ones, without your having to go anywhere and pay for external costs. Viewed in that perspective, I think you’ll find you haven’t overspent or overbuilt.
My mom spent the final 17 years of her life in a wheelchair, paralyzed on her left side and missing her left arm. If there’s one thing I know, without any doubt, it is that all other considerations go out the window in favor of properly designed space that facilitates practical day-to-day living for a disabled person. Everything else–EVERYTHING ELSE–comes a distant second. If it works for both of you, whatever the cost, it’s all money well spent (and that otherwise would have had to be spent on external accommodations anyway). Nobody else has your needs and concerns. Period.