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Posted by on November 30, 2006, 2:31 pm
need advice ...ROI on Home upgrades / features
My sister lives in the SF bay Area, CA. She wants to upgrade her home
with new kitchen granite,
flooring, carpeting, bathroom tiles, marble entryway, additional new
bathroom etc
She is wondering if "the upgrades" are a good investment ? and will
they appreciate in time ?
In other words if she is planning on spending $50,000 on upgrades, will
this $50,000 appreciate at say 6% or would she better off investing
in mutual funds ?
I have 2 important questions...
1.generally does get one's money back from these upgrades ?
2. Do the upgrades appreciate with the home ? ie if a home appreciates
6% a year in the SF Bay Area, CA would her upgrades appreciate as well
?
If you think this would bring in a good ROI, would you pls advise as to
which materials to use ?
What tiles, carpets, marble, granite are best for ROI and maintenance
?
She is totally ignorant with these things.
Any help would be highly appreciated.
Thanks
Kim
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Posted by professorpaul on November 30, 2006, 2:37 pm
Don't know about the SF area, but in general, no.Other than the obvious
issues of things like out-of-date heating, plumbing, electrical, or
kitchen, don't expect to get your money back if even then. Buy for
love, not money. If you want to upgrade something because you would
like it, like a new kitchen, then do it. Just don't expect the property
to magically appreciate by that amount.
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Posted by Goedjn on November 30, 2006, 3:34 pm
On 30 Nov 2006 11:31:26 -0800, kimshapiro100@yahoo.com wrote:
>need advice ...ROI on Home upgrades / features
>
>My sister lives in the SF bay Area, CA. She wants to upgrade her home
>with new kitchen granite,
>flooring, carpeting, bathroom tiles, marble entryway, additional new
>bathroom etc
>
>She is wondering if "the upgrades" are a good investment ? and will
>they appreciate in time ?
>In other words if she is planning on spending $50,000 on upgrades, will
>this $50,000 appreciate at say 6% or would she better off investing
>in mutual funds ?
Unless the existing things are damaged and need replacing
anyway, no. That's not to say that she shouldn't
do the upgrade just because that's the kind of house
she wants to live in, (although I wouldn't) but she shouldn't
expect to recover the money.
Unless she already owns the building outright, the best
use for $50,000 would be paying off the mortgage.
(after any higher interest debt)
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Posted by HeyBub on November 30, 2006, 4:14 pm
kimshapiro100@yahoo.com wrote:
> need advice ...ROI on Home upgrades / features
>
> My sister lives in the SF bay Area, CA. She wants to upgrade her home
> with new kitchen granite,
> flooring, carpeting, bathroom tiles, marble entryway, additional new
> bathroom etc
>
> She is wondering if "the upgrades" are a good investment ? and will
> they appreciate in time ?
> In other words if she is planning on spending $50,000 on upgrades,
> will this $50,000 appreciate at say 6% or would she better off
> investing in mutual funds ?
>
> I have 2 important questions...
> 1.generally does get one's money back from these upgrades ?
> 2. Do the upgrades appreciate with the home ? ie if a home appreciates
> 6% a year in the SF Bay Area, CA would her upgrades appreciate as well
> ?
>
> If you think this would bring in a good ROI, would you pls advise as
> to which materials to use ?
> What tiles, carpets, marble, granite are best for ROI and maintenance
> ?
>
> She is totally ignorant with these things.
>
> Any help would be highly appreciated.
ALL studies show that expensive upgrades NEVER return the investment.
Especially kitchens. Oh, and swimming pools.
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Posted by Charles Schuler on November 30, 2006, 4:27 pm
> need advice ...ROI on Home upgrades / features
>
> My sister lives in the SF bay Area, CA. She wants to upgrade her home
> with new kitchen granite,
> flooring, carpeting, bathroom tiles, marble entryway, additional new
> bathroom etc
>
> She is wondering if "the upgrades" are a good investment ? and will
> they appreciate in time ?
> In other words if she is planning on spending $50,000 on upgrades, will
> this $50,000 appreciate at say 6% or would she better off investing
> in mutual funds ?
>
> I have 2 important questions...
> 1.generally does get one's money back from these upgrades ?
> 2. Do the upgrades appreciate with the home ? ie if a home appreciates
> 6% a year in the SF Bay Area, CA would her upgrades appreciate as well
> ?
>
> If you think this would bring in a good ROI, would you pls advise as to
> which materials to use ?
> What tiles, carpets, marble, granite are best for ROI and maintenance
As others have posted, no.
Here are items that provide the best ROI:
1/ Painting
2/ New carpeting (neutral)
3/ Repairs of obvious, cosmetic defects (but not new roofs)
4/ Landscaping
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