Why do people put SO much money into their homes.?

Question

Don't people realize that a house in a neighborhood can be worth only so much? I mean if you put 50,000 in home improvements (when the stuff you are replacing is fine and not outdated) just because you want a new kitchen, living room (give me a break) will go up if the houses in that neighborhood only command a certain price? Why do people put so much money into their homes even though they know that won't get the money back in resale since houses in a neighborhood can command in price to a certain extent and thats it?

Answer 1

the way i see that whole thing is they do because it's simply compition thatss y

Answer 2

Sounds like your a bit jealous of the neighbors. Remember some people bought real low in that neighborhood a long time ago and they just might have built enough equity to "turn a profit" despite heavy remodeling. But you are most likely right, most people will "be under." I think most of them think it through and think, these additions will be good for another 10 maybe 20 years. Lord knows the crap we had before was that old - what will the value be then? But for the most part, I think people just want to live well - all the money in the world be damned. So why don't you stop your bitchin and just buy that damend stainless steel glass top kitchen your wife has been on your case about for 3 years now. Take it from me, your might as well just get the matching fridge now too. Don't wait. You're just going to have to get it anyway ;-).

Answer 3

Did you ever think that people may be putting money into their homes to satisfy wants and not for financial gain ? How many people buy new cars only to have them depreciate by 1/3 as soon as they drive them off the lot ? You need to spend money on your "house" to turn it into a home and sometimes that's worth more then the next offer...

Answer 4

Let me guess. Putting money into cars makes more sense even tho it is a piece of scrap metal once you get hit.
Real Estate always goes up. and it is far cheaper to do a fix up inside/outside than to rebuild the house from the ground up. Value of my place has tripled since I been in it. Can you say the same for your car "NOT"

Answer 5

to they can get more money when they sale the house. also when the new owners more in the stuff well last longer for the new people , also people like to see now stuff in the house and your trying to make the others to feel a home and it well can help you sale the house fast buy the best to to sale a house is in the winter because more people are more likely to buy the house off you. because more people are more serous to buy the house.

Answer 6

have you ever considered that some people simply desire to live in a nice home, even though they may not be able to get all the value back when they sale? if you want a fancy kitchen in a dumpy neighborhood, that is your business.

Answer 7

I think we put all kinds of money into our homes because in general we usually don't think about leaving it.We bought our old house for $19.000 15 years ago in an estate sale and have put at least $40.000 into it so far and are about to put another pile into it,but everything in it was old,old old,so we had to put that money into it for codes,insurance and all that stuff.we all love our homes and have to be comfortable and safe and happy in it.

Answer 8

Your home is your castle. You cannot put a price on a safe happy and enjoyable environment.

Answer 9

Some people spend their money on their homes, others on cars, or clothes, or education, or vacations, or ... Me, I'm saving for a male escort service.

Answer 10

Not everyone wants to leave their home.