Future renovations

If you don’t plan on staying in your starter home for more than a few years, renovations may end up costing you in the long run. Small improvements such as a new deck or landscaping may add to your home’s resale value. But spending a great deal on major improvements may make it harder to recoup all the money you’ve invested. And if you end up listing your home for a few thousand dollars more than a similar home down the street, it may make it harder to sell.

If you do decide that you want to stay in your starter home for a long period of time, then it may make perfect sense to renovate. Over time, you can remodel it to suit your family’s evolving needs, eventually creating the house you wanted all along.