"Red Green" wrote in message
...
For your Sunday reading...


http://finance.yahoo.com/real-estate...te-homeimprove


Most of the regulars have already made very valid points. I will just add a
cynical observation.


Who were these idiots kidding all along when they spent way more borrowed
money than they had to do overpriced "improvements" in honor of the resale
Goddess?

Make your home comfortable for yourself but I think you should always use a
little common sense. A 50K kitchen remodel in a neighborhood of 50-60K
homes is not using good common sense. It might be justifiable if you plan to
live there until you die and love cooking but don't kid yourself it is money
spent, not money invested. Do keep in mind I speaking of current value, not
what you paid ages ago. I did a 12K kitchen remodel on my in-laws home many
years ago (1987). We all laughed about it because they only paid 15K for
the house in 1952 or 53. The new kitchen and appliance cost almost as much
as the house.

They enjoyed it together for a few years and my FIL still enjoys it today.

If you spend money you have or will shortly have then do as you please.
Borrowing the money can become a disaster.

Off the soapbox, throw money not rocks.


--
Colbyt
Please come visit http://www.househomerepair.com