Real Estate in Connecticut is only slightly appreciating after several years of decline. Purchasing a home or a condo today is more of a lifestyle choice than an investment, although their are tax benefits and forced equity savings as your mortgage balance declines. Some people are happy just to rent and let the landlord worry about maintaining the property. Others like myself obtain great satisfaction in having a home to call my own.
Today's tip is how not to over improve your property. Certain aspects of home ownership are considered maintenance items and you don't always recover the cost of their replacement when selling. For example your car.....you change your oil and filter as needed. This is a maintenance item and doesn't raise your cars value but helps to prolong it's useful life. With a home or condo.....what happens when you need to replace your windows, roof, heating or AC system, water heater and so on? These are considered maintenance items and are a large part of home ownership. You have no choice but to correct them when failure occurs. It turns out that purchasers don't expect a new roof, heating system, etc. when they purchase a home nor will they fully reimburse you for what you paid for them. They just expect at least serviceable life left in these important components and would probably choose your home over another if yours had the updates and the other didn't.
What I'm getting at is not to spend a fortune on replacement items unless you plan on staying in your property for an extended period of time otherwise you will never recoup or receive the full advantage of those monies invested.