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Reply to "Have you regretted buying a fixer-upper?"
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[quote=Anonymous][quote=Anonymous]I bought a fixer upper in Bloomingdale in 2003. It was uninhabitable without a functioning bathroom or kitchen. I was 28 years old, single and had no idea what I was doing. The house is now fully renovated and looks amazing. I paid less than $200k for a house that's now worth $800k or more. Sure it was stressful at times and a steep learning curve, but I it was the best investment I ever made and I am grateful every day. On the other hand, the link that you posted isn't a "fixer upper" in any sense of the word. Sure it's not fully updated, but it doesn't look like it's anything beyond the ordinary.[/quote] Sigh, I'd guess 90% of the increase in value is you bought in a gentrifying neighborhood before the housing bubble. Renovations rarely add value and most never recoup even a dollar for dollar investment. Renovate your fixer upper for your own enjoyment, not as investment!!!!!![/quote]
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