An article at The Motley Fool points out the ineffectiveness of making improvements around your home to “increase its value.” It may be worthwhile in some instances, but it’s rare for the value of your home to increase in value the same amount it costs to make the improvement.
So if you find yourself with $5,000 and you’re thinking about using it to improve your house, unless there’s something actually bothering you about the place, you’re better off saving or investing the money.
Updated February 6, 2012 and originally published November 12, 2004. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.