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We keep our cars until they are dead, and if we can ever get a house, we'll keep it as long as we can.
I believe that people should make their houses a home. I also believe that people should do whatever remodeling they want to make their homes comfortable for them. I have a small house (672 sq ft), have boring colors by most peoples standards and update when necessary.
For example, instead installing central air, I have an evaporated cooler. I only feel that 10 days or so are uncomfortable; therefore, I would not use it much anyway. This must be unusual because the power company keeps calling to get a savers switch installed.
I think If you are not going to use it for your pleasure then don't do it. When you over improve your house, you will loose money.
The advice on changing the doorknobs is sheer stupidity the first thing anyone will do when they purchase a house, any house is to change all of the locks, which means all of the doorknobs on the exterior of the house, dated? changing the interior door knobs will not change the impression of the house, if the knobs are from the seventies so is the trim, the baseboard and all of the lighting fixtures, and any hinge attached to any door, which incidentally will in all probability be brass.
Save your money or put it where it counts, the bathrooms are what will make or break a house, nobody wants to see one substandard, lets face it, if you were meticulous about keeping up the bathroom, you were meticulous about every square inch of the house, and that is a selling point that no one will discuss out loud, only in private, like "did you see the bathroom, gross!!!!!!!!!" can you just imagine what is hiding in the corners or behind the shoddy remodeling job.
Most of this article was written as though everybody should have resale in mind. Granted some remodeling projects are poorly thought out especially changing the garage into a room. Here in SW Florida, a garage is expected in a house and even some condos and townhomes have them now. It's not fun getting into a car that is 130 degrees or trying to bring in groceries during one of our torrential every summer day downpours.
I keep to fairly neutral colors anyway because I like them and I use color in my accessories: pillows, throws, etc. I recently looked at a townhouse that had ever room painted a different unusual color: bright yellow, purple, dark green. That's fine if you like it but definitely paint it when you put your house on the market. There's a lot of buyers out there who want a move-in ready home and if they see a lot of painting in their future, they may just go elsewhere.
Yes, he unexpected can happen and you might find yourself having to sell because of unforseen circumstances but we should be able to enjoy our homes the way WE like, brass doorknobs and all.
You ignore the fact that many times the owners make improvements or add amenities to make themselves feel better at home. They are not contemplating to move, their kids are in third and fourth grade, they have a few years left on the mortgage so anything they add to the home represents a feeling of elation and satisfaction. The kids are content, they have plenty of entertaining right at home, and they have a ping pong table in what used to be the garage. If it were not for the soccer field being two miles away, it would be a perfect place to live.
I do not know where you people are getting your help to do your homes I just purchased a home in Southern California complete renovation took out all drywall all electricity all plumbing my cost was approximately 1/3 of what you people are estimating your costs at the most expensive thing I purchased was an air conditioner and heating unit which the home did not have when I purchased it
it did have a swimming pool which was very easy and cheap to bring back to usable and safe conditions most of my help came from (as acted as my own general contractor which is allowed in my city )Home Depot labor and craigslist electricians that were out of work plumbers that were out of work
people that spend $50,000 to recondition a kitchen just have too much money or they are just stupid
I purchased a home in the middle 300,000s after renovations the value of the home has increased to approximately 480,000 other than the air-conditioning and heating system labor equipment merchandise i.e tile kitchen cabinets, cabinets for bathrooms new bathroom tubs new bathroom showers new carpet I invested less than $28,000 so where you're getting these numbers if you are really spending that much you're getting screwed
Idaho is right.
Nobody really owns their home.
It's the cities property, not yours.
That little piece of dirt is the cities
and your house is sitting on it.
As an old ex-investor and owner of a free and clear 31-year-old house I had built, I agree with most of the items mentioned in the article. Even without any house payment, I calculate my monthly expenses for property tax, insurance, utilities, and minor maintenance at approx $1500 per month. I have two 4-ton central AC/heating units that are 31 years old and will need replacing eventually at around $20K. They have always been maintained professionally at the beginning of the AC season. Two 50 gallon water heaters one 31 years old the other 12 years, about $2000 for both when needed. Remodeled the 30-year-old swimming pool for the second time $11000 each time. New fence $9K, new roof about $25K. Kitchen, Bathrooms remodels $70K. All wood flooring in every room $8K, new tile for kitchen and hall about $3.5K. The original cost of the house in 1982 Texas was $250,000 with an additional $26K for pool and $5K for fence.
Yes, it would be much cheaper to rent, especially with only two of us, however I would loss all privacy and could not swim nude in the community pool. I also like to blast the nine speakers and one sup-woofer watching movies.