There is a distinct difference between an “improvement” to your home and “maintenance” to your home. Suppose you have a leaking roof, and it results in ceiling discoloration. Since you don’t want the penetrating water to permanently damage drywall and you don’t want dripping water to damage your computer, furniture, or other valuable items inside the home, you call and roofer and have a new roof installed. Besides, your old roof was 23 years old and needed to be fixed anyway. Your new roof is considered home maintenance, not necessarily an improvement. It is maintenance because the only reason you fixed it was because it was broken. You fixed it when it broke because neither you nor any prospective buyer would want to buy your home while the roof leaked. Therefore, fixing the roof did not make your home more valuable. Now suppose that you got a nice IRS refund this year, and you decided to replace the kitchen cabinets. You add additional cabinets from the old arrangement, and the laminated cabinets are now solid maple with raised panels. You also replace the butcher block laminated countertops with a solid surface countertop. This project is considered an improvement because the characteristics of the new materials, added space, and attractiveness of the components may cause someone to pay more for your home than they otherwise would have with the old kitchen. Before you spend money to improve or maintain your home, consult a REALTOR and find out what choices are available and what will make your home more attractive should you decide to sell in the future.
3 Mar
