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When are home renovations no longer worth the investment?

2 months ago
last modified: 2 months ago

We live in a 1968 split-level home in a hot housing market. After more than 20 years in our neighborhood, we're seeing homes like ours on larger-than-average lots being purchased and subdivided to include two or more million dollar new homes on the same plot of land.

We did a considerable remodel 4-5 years ago on the interior of the home and are now looking at siding and landscaping for the exterior. I'm looking at both Hardie and vinyl options. While I like the Hardie look (and it matches others in the neighborhood) I'm wondering if it's really worth the investment knowing our home is likely to be torn down and redeveloped after selling it? We currently have wood panel siding. While it's in OK shape, there are likely a few panels that should be replaced (who knows if we can find a match for it). It's also ugly and at least needs a new coat of paint and I'm sure the trim needs to be replaced in some areas as well.

Kids will be grown and out of the house (probably) in the next 5-10 years, which means we likely won't be selling before then. Is it worth it to invest in siding and landscaping at this stage knowing that once we do sell it'll likely be torn down and redeveloped? Would we still get a higher sale price with these renovations even if the new owners decide to tear it down? What else should I be considering other than my happiness with my home and peace of mind for the next decade?

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