time to remodel?

kraftdeeNovember 19, 2008


Do you all think it's a good time to remodel? I have no idea what price of material is/was like (flooring, bath tile, etc.) also, cost of labor..has it gone up or down?

Should I wait...


Dee the financially unsavvy

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as long as you are paying cash, and not financing,i'd do it..I have done several small projects in the last 2 months, and prices are lower AND negotiable...

    Bookmark   November 19, 2008 at 11:49AM
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Depends on how much debt you have, how secure your job is and whether you need two incomes to survive.

Two income families may have to survive, at best, on one income. With costs rising, it may prove difficult. You can do a lot with very little cash and DIY but 5-15K is a considerable chunk of cash you may need later.

    Bookmark   November 19, 2008 at 4:20PM
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If it's necessary to maintain your house or keep it at the same level as your neighborhood competition, certainly.

Otherwise, you should improve only if you are willing to consider the satisfaction of living with what you want, to be a satisfactory return on your remodeling dollars. In today's depressed RE markets, remodeling will not bring you a greater price, although it might make your house more saleable than others in your area. But YMMV!

Good luck.

    Bookmark   November 19, 2008 at 4:43PM
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Thanks for your replies. To remodel would bring our house up to the current market level so what you say makes alot of sense. Thanks to all of you smart people.

    Bookmark   November 19, 2008 at 9:21PM
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