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Money invested in house VS Resale?

I have been living in my place for 2 years. It is a log home and during this time frame I have spent $30,000. This includes a metal roof, 2 Propane firelaces, limestone boulders. I am redoing the logs this year and replacing 5 windows and adding new siding to the top half of my house. This will equall another $5000. I am doing all the work myself so labor is not an issue. There will be some savings in enrgy costs..but not enough to offset the cash I have put in already. My question is how much is too much to pour into a house? My family is very happy here and I hope the amount of money will decrease as I fix up the place. $30-40,000 on a new car is not unheard of so why do we get all upset over dumping money into a house. After 5 years a car is worth a third of what you spent. How much would a new roof. landscaping, siding and windows add to my place realistically? I am not counting my time..just materials? Is anyone else in this quandry?

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  • 1 decade ago
    Favorite Answer

    if you are planning to stay in it then do it up as you wish. The money invested is for your comfort. If you think you are going to sell it soon, then dont put the money into things that are not obvious improvements. You need to consider what the neighbours houses are like and what the prices of similar houses in your area are worth. If selling soon, the 5 - 10% over current value. If keeping long term ~10 years then 50 - 60%. Check out your local returns from an estate agent to get a better idea on your area

  • 1 decade ago

    I'm not answering specifically to your question. I am understanding your quandry. I am retired, bought the house of my dreams that needed (needs) some spiffing and updating. My son says I'm putting too much money into the house, however-- I live here and I want to be comfortable and pleased with my home. The house is worth about 150K now per the tax man-- which is a third more than I paid-- I have put in about 50k over all-- updated wiring, added lights, fans, wood floor, carpet, two solatubes, 90 feet of cedar fencing across the back of the lot-- am getting ready to paint and replace kitchen tile, have grout replaced and sealed in the bathrooms. I have added insulation and new tight windows. All of which required labor costs. Each project is planned and budgeted, and I am pleased with the results and experience much satisfaction.

    You have living expenses for housing, and you ALWAYS will have housing expense- I believe the fact you can do the work is a great asset. Do projects that make you and your family happy. The house will sell for what it will bring no matter what. If you bought well, then your projects will not up the price of your home too much for the neighborhood.

    An aside. I did the same with my last house-- pleased myself-- when I prepared to sell it to buy this house, I made a list of what had been done and where possible the dates. Listed "attributes"-- things for comfort or pleasure. The house was sold in 90 days for a good price in a down market.

    I wish you luck.

  • ?
    Lv 4
    5 years ago

    each subject is quite distinctive. in many situations you don't get returned what you place into it. in case you're revitalizing a run-down abode you will in all probability get a severe return on your investment as against putting one greater $30K right into a house that's already the main costly abode interior the community. in simple terms bear in ideas the fees are dictated via the various industry forces...might you want to pay somebody that fairly greater for the advancements they have made? as long as you're actually not too unique with your tastes thats in many situations a good sign. good success!

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