The Home Front

[cinderella]

Ravyngirl, first, congratulations on buying what sounds like a very nice house indeed.

Secondly, I so understand improving yourself to the point where you won't get any equity on your upgrades. It's a hard one, but it can be done. There are many products out there that are very nice, and not as pricey as the upscale counterparts. Flooring - laminate has come a long way. There's high-grade laminate that you have to look at very closely to discern whether it's wood or not.

Decking - is you go with treated lumber, it will cost in the long run to maintain it. You'll have to reseal it every couple of years. Between buying the supplies, and paying for the labor (unless you're doing it yourself), it can get expensive over the years. Look into no maintenance molded decking - there's several brands out there, and I'm sure you can find something within your budget.

Refinancing - this is a very good time to do that. Shop around for the best deals. With the economy so low, and so many folks losing their jobs, and so many foreclosures, banks and lending institutions are hungry for business, and more likely to give you a good deal with a very low percentage. You can use the money for those renos. As you know, it's kitchens and bathrooms that usually sell a house. And the backyard you've described sounds lovely - that's another big attraction for resale.

In the end, it's you as the homeowner who you have to please. If this is your 'forever house', then go for it and upgrade it as much as you want. However, if you plan on reselling at some point, use discretion with your remodelling, and try to keep things as neutral as possible. If you put your house on the market, potential buyers want to see themselves in the space, so decluttering and de-personalizing the space is essential. It's hard to envision oneself in a space with overly colorful spaces, and lots of family photos around.

Originally Posted by ravyngirl

I too am doing some things as well.

I had a real estate agent out to assess the house and give me some numbers to work with....

You know that rule "never buy the best house on the block"?? Well apparently, I did not follow that!! I had no idea though!! My neighboring houses all are these big 3 story homes and mine is this sweet little 1950s cape. Sure the yard is a park-like setting. Sure the bedrooms are great sizes... No doubt that the master bedroom is jaw dropping BUT I would *never* had guessed that my little house was actually the biggest house in the neighborhood!

So, I'm limited... if I do too much, I out-price the area.

First on my plan: Redoing the kitchen... all new cabinets (at least new to me), updated lighting (actually have to re-run the wiring because the current set-up is absolutely ridiculous), new flooring, etc.

Once the kitchen is updated, I am going to refinance the house and install a deck and update the main bathroom and master bath.

The cost of all this is rather scary and the fact that I have learned bout this pretty tight budget as to not out-price the area doesn't help the nerves! I don't want to end up losing money on this! I mean, really..... it isn't the point!

So I see lots of sweat equity on my part to get this all done. OH and lots of scoping craiglook.com!