Quote:
Originally Posted by luv
So, why do I always hear that so much spent in upgrades brings back so much more at resale? Well, with the exception of bathrooms. I think the highest return I've seen on bathrooms is like 80-90%. Would a finished basement not be an upgrade? Especially if he tries to put minimal cost into it? And how much of a return do you think he'd see on putting a $3000 bathroom in the basement?
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It will add some value, it just won't be a dollar-for-dollar return. Bathrooms and kitchens are about the only thing that can net you a positive gain.
In my personal opinion, if you're buying a house strictly on the hopes that it will gain value, you're buying it for the wrong reason. You'll never see that gain anyway because as housing prices go up you'll just spend what you gained on the next one. About the only way one can get ahead is if they can do the work themselves and he said that's not really an option.