"If I buy a more expensive house will I get more when I sell ?" asked the first time buyer. This Buyer can afford more than what may considered a "market entry level" price. Like most Buyers....he does not...and should not spend to the highest level for which he is qualifed...since that is out of his comfort zone.
Does spending more mean you get more when you sell ? Hmmmm....If you look at percentages...any per cent of a larger number is a larger number...If you make improvements to a home that is more expensive....your percentage of return is larger.
Keep in mind as well that the cost of improving a more expensive home and "taking it to the next level" is also higher. If it is replacing flooring larger rooms..updating a kitchen that is larger and has more cabinetry...replacing tile in a larger bath...all of those improvements will be more in a 4,000 square foot home than in a 2,500 square foot home. Will you
get a higher return ? Likely you will given that the housing market is stable and improving in the home's location. Will you spend more to get a greater return ...Yes.
There are no magic guarantees for greater returns...make improvements and updates in keeping with the area and price range of the home you purchase. You can over improve for a price range....and likewise, make improvements that are not expnesive but bringa good return on your investment.
If you have questions on what improvements will bring you the best return...If you need suggestions for contractors or vendors who are reliable....and live in southeastern Wisconsin...Call the Hansons...we are honored to be of service.