Question:
“I’ll be selling in a couple of years and am looking at investing some money in my home now so I can get a higher price when I sell. Can you direct me to a cost versus benefit analysis list for various upgrades or repairs?”
Answer:
There are several such lists. Here’s one from Realtor Magazine’s blog.
However, don’t use these generic guides to decide whether you should remodel a bathroom, add a deck, etc.
First of all, the costs are often wrong.
Second, the benefits are often wrong.
Third, the costs and benefits often vary by what part of the country you live in.
Fourth, the value or return depends on how much the repair or upgrade is needed. For example, remodeling a dilapidated kitchen will obviously return much more than remodeling one in good shape that’s just slightly outdated.
Hope that helps.
