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Reply to "Should we spend 500K on a renovation?"
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[quote=Anonymous][quote=Anonymous]If kids will all be in college within 4 years do you really need to add a floor? Also color me sceptical that a $500k renovation will add $1.3 million in value but maybe I am wrong. Basically it’s a huge amount of disruption and it’s hard to know if you are budgeting for overruns and the costs of living during it (and what tuition nearly being covered means) but if you really want to do it and have the budget….[/quote The math is right when we look at square footage and bed and baths added. Full tuition means 4 years each at the highest private school. House is currently at around 1.6 mil and based on sq footage and increase in rooms, neighbors houses are selling for at least 3mil upwards. We want to do this to have more space, larger living areas, offices and bigger bedrooms. We don't plan on moving anytime soon and want to have space for the kids to come with friends and eventually families. [/quote]
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