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Reply to "Should we spend 500k on a renovation?"
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[quote=Anonymous]I think $500K is a reasonable investment considering your location and comparable homes but would it be the house you’d choose if you were looking today. New builds today have 9’ ceilings, have upgraded insulation and HVAC systems. The layouts wouldn’t be making best use of your existing home but maximizing livability. Would you choose the somewhat busy street you’re on now? Is the yard what you hope? We put about that much in our renovation but we have a great neighborhood that we couldn’t have afforded to buy into without the sunk costs. The existing home had 8.5+ ceilings (so not terrible) BUT we did spend extra to work around existing footprint and the work took longer than a new home would have (and if we’d just bought an existing house we would not have had to move out for 6 weeks of the long process.)[/quote]
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