I am asked this question every week: "Does it make sense to put money in my house, or am I just throwing my money out?" I am very careful to ask a couple of questions before answering. I want to know whether you are remodeling your home to live in and enjoy yourself, or in anticipation of it going on the market. Most homeowners answer that they will probably live in their house for at least the next three to 10 years. My answer across the board is: "Make your house comfortable for yourself, and do what would allow you to enjoy it the most. This is your home, and you may as well live in it." If you can afford to do the best, then do it. If you've always dreamed of a remodeled kitchen, or French doors in your master bedroom that go outside to a beautiful yard, then go ahead and do that. Your property will appreciate naturally, as it will when the market rises. Of course, if the market declines, your house and every other house will decline along with it. But in the meantime, your property value will tend to increase steadily given the strong buyer demand and the very limited supply.

As far as making your home suitable to a future buyer, that is really unrealistic. Buyers have very specific ideas of what they want, and trends change all the time. Just make your home comfortable for yourself and spend your money moderately. Don't try to make a bunch of improvements thinking that it will majorly increase your property value. As soon as you go ahead and make improvements to your home thinking that you've increased the value, the buyer will come in there and want something entirely different.

Will the buyer be a developer who will build something for yet another buyer? Or will the buyer be a young couple who will use your house as both a workspace and living space? Do they have children? Do they entertain a lot? Do they desire an open floor plan with very few walls, or do they desire some extra rooms for guests, an office or Airbnb? The possibilities are endless, and it isn't realistic to anticipate.

Enjoy your home, and make the improvements you have always dreamed of. Let the market escalate naturally, and take advantage when it is in your favor.

For more information, please call Ron Wynn at 310-963-9944, or email him at Ron@RonWynn.com. To find out more about Ron and read his past columns, please visit the Creators Syndicate webpage at www.creators.com.

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