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Reply to "Should we spend 500k on a renovation?"
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[quote=Anonymous]This question is impossible to answer without more information. We have done 2 renovations of our house: 75k to build out our basement and 500k to update everything and add about 1000 square feet. In a couple of years will likely put in another 100k on a kitchen gut. Our house is a close in 1940 colonial with great bones but we needed more space. We bought it for 1.2 million in 2008 and now, with the renovations and appreciation, it would probably sell for 2.5. We couldn’t have bought what we wanted for the amount of our renovation so it was worth it for us. [/quote]
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