Additional Thought On Remodeling Your Home Before Selling It

In response to DarkAngel's comment on my last post about redmodeling your home before selling it I wanted to follow up with one additional thought. In that previous post I made the case that it wasn't worth remodeling in order to increase the value of your home. If you do you're going to typically lose up to 45% of the money you invest. However, as DarkAngel pointed out, there is another exception to my logic. If you are thinking of moving in a few years and would like to enjoy the benefits of remodeling yourself for a while then it could make sense. For instance, if you lose 28% (average loss according to the data) on a $15,000 kitchen remodel, and you amortize that over 2 years then it's only costing you $2100/year for a nicer kitchen. That might be worth it for you if you really hate your current kitchen.

BTW, DarkAngel, I don't think I post enough either. I have lots of ideas for posts that never make it on the page. It would appear that the damn business keeps getting in the way of my hobbies :)

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    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

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