Your original cost doesn’t affect value. It is possible that you bought the home in a seller’s market and are selling it in a buyer’s market. Market value considers what price a buyer would have to pay for a similar home in the same area with the same amenities in the same condition.

The cost to rebuild it today doesn’t affect value by itself. A valid approach to valuation is to determine the cost to rebuild it today, but some adjustments must be considered. You have to depreciate the home on both an economic and a functional basis. Skilled appraisers will consider this approach but will frequently put more weight on the market data approach that looks at what similar homes have sold for recently.

Your investment in improvements doesn’t affect value. While some improvements do add some value and might increase the marketability of the home, most improvements were done for personal enjoyment.

If there wasn’t time to recapture the cost of the improvement prior to selling, it might have been a bad decision in the first place. You can’t expect the buyer to pay for that decision.

Personal attachment doesn’t affect value. Many times a seller has put a lot of love and hard work into a home. It may be the fruition of many years of planning and a place where their family was reared. While these things are real and are priceless to you, the buyer doesn’t value them and will not pay a premium for them.

Certain types of improvements don’t affect value. If luxury amenities are installed in a moderate home, they may not increase the value at all. For instance, solid brass plumbing fixtures in a home valued under $100,000 are not expected and, in most cases, will not affect value.

Remodeling kitchens and bathrooms are usually the best investments. On the other hand, adding special-use rooms like a darkroom can actually lower the value.