Reply to convincing my husband to invest money in our kitchen and finishing the basement

Forum Index » Real Estate

Reply to "convincing my husband to invest money in our kitchen and finishing the basement"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]If you do anything, the kitchen is a good bet. But I'd have to be the nay-sayer to argue that right now, renovations probably aren't going to give you a lot of resale value. Most people get a 70% return on investment, but in this market with leveling of home values it won't add much to the bottom line.

The finished basement - will give you even less return. Even IF a basement is finished it isn't included in the total square footage, so its more of an 'added bonus.' Finishing a basement can be really expensive too ($100,000 easily) so you have to decide if its really worth it.

How long have you been in your home? Another option would be to sell your house and upgrade if you have some equity because that would also be a little less stressful than doing renovations.[/quote]

A finished basement will help a house to sell faster. Also, $100K for a basement is on the high side. A lot depends on what is already there. If you already have a concrete floor, wiring, and plumbing, you are really looking to spend money only for insulation and finishing (carpet, drywall, paint, maybe new sink and toilet). However, if your basement is totally unfinished, e.g., dirt floor that needs to be dug out to make the ceiling tall enough, you are talking a lot more $$$.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics