Homes that go up in value simply because of a strong housing market can just as easily lose that value if the market weakens. A home that’s been improved is less likely to lose the added value if things go south, since their increased value stems from tangible things like additional rooms, or an updated interior.
Here in Clairemont and Bay Park, many homes look virtually the same as they did when first built in the 50’s. While “original condition” might be good when you are talking about classic cars, or collectibles, when it comes to a home, it’s not always so good.
This is especially true if you are planning to sell your home in the next 5-10 years. You’ll be competing with newer homes and updated homes for a buyer, so your “Clairemont original” is going to look poor in comparison, and you are likely to have to settle for less in the sales price.
Even if you aren’t planning on selling, building materials and techniques used to build the 1950’s home can’t compare with today’s energy efficient and convenient home features. Take windows for example: in the 50’s, it was significantly cheaper to heat and cool a home, so the thermal loss through windows wasn’t a big issue. I don’t have to tell anyone in San Diego that that isn’t true any more. Today, the investment made in new dual pane windows can be recovered in savings on the old SDG&E bill.
And there’s another consideration—lifestyle. Think about how many entertainment options your family enjoys at home—renting videos and DVDs, video games, the Internet, dinner parties—so why not make your home as comfortable as it can be? An extended family room, an eat-in kitchen, a luxurious master bedroom/bath suite could convert your “plain old Clairemont” home into the home of your dreams.