Reply to Should we spend 500k on a renovation?

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[quote=Anonymous][quote=Anonymous]You can greatly reduce the estimate by reducing the scope of work.  We hired a kitchen designer to do our layout, and were able to double the usable space in our kitchen without moving or removing any walls.  With fully custom everything, it came in at almost exactly $85k including all fixtures, appliances, and furniture.  [/quote]

PP here ... Should have said, we also gut-renovated our basement a couple years ago for $130k.  Before each one, we had our agent come out to run comps and advise on what our house and our neighborhood could support when we sell in the future.

We live in a more historic neighborhood, where there is a premium for meticulously updated and maintained historic homes.  Our 1920 house has some historic value and maintains its beautiful original details.  With that, it was worth it for us to invest in our existing space, rather than just buying something new.  I would probably make a very different calculation if I was in an 80s colonial.  [/quote]

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