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Renovation and Resale

Started by tamaressner
about 18 years ago
Posts: 21
Member since: Apr 2007
Discussion about
I have a small studio and I'm trying to figure out how much to spend on renovations for it to be worthwhile when I ultimately sell. I know that most renovations end up paying for themselves in the resale, but certainly not all of them do – especially in small studios like mine. So far, the kitchen and bathroom are already renovated, but I was going to add crown and base moldings, track lighting, a radiator unit and renovate the closets. Does anyone know if moldings make a small apartment look smaller, or have any insights into whether I might just be putting too much money into the place? Any insights are much appreciated. Thanks!
Response by huh
about 18 years ago
Posts: 47
Member since: Nov 2007

try and see what a fully "done up" studio would fetch in your building / nabe. if you have room to put money in, and still be under that market value, with all your costs considered then it could make sense.

however don't think buyers are going to pay $10k more for a place after $1500 of elfa closet gear. the stuff that has the most bang is the stuff that the licensed trades have to do -- kitchens and bath. if those are brought up to current standards you've gotten a good pop already.

i'm not sure buyers notice moldings until maybe their second visit but who knows.

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