mimsathome
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- May 27, 2011
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Hello all,
I am about to embark on a fairly extensive renovation project on my home. Here's my question. How do I calculate the benefits of doing the renovations vs resale value of my house? What does that ratio tell me (I'm lousy in math)? Let me leave behind a few facts:
TIA
Mims in Massachusetts
I am about to embark on a fairly extensive renovation project on my home. Here's my question. How do I calculate the benefits of doing the renovations vs resale value of my house? What does that ratio tell me (I'm lousy in math)? Let me leave behind a few facts:
- Home purchased for cash 125,000 in 2009
- 1300 square foot house, one acre of land
- Current tax assessment 160,000
- Budget for renovations 35,000, paid in cash no loan
- Will be living in the house for at least 15 years
TIA
Mims in Massachusetts