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Reply by David Grimes

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Posted on Home appraisals and additions/remodels values

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David Grimes

2072 posts in 1294 days


#1 posted 09-01-2011 06:40 AM

landog, When I was typing both your post and sandhill’s were not there, so it isn’t as obvious that I was responding to the lissajous post before those, especially:

Any experienced investment pro will tell you that a home should be treated as an expense. Homes don’t satisfy any of the normal criteria for a good investment – liquidity, diversification, security of principal. If you want to invest in Real Estate buy a REIT fund or ETF.

As far as upgrades, the odds that the tastes of prospective buyers will be the same as yours are not that great. There is a good chance that they will look at your kitchen and say that they hate it and will have to remodel before moving in. When I bought my current home I ended up with a beat up place because none of the nice homes available suited my tastes, so why buy something nice for more money and then have to rip out the guts? It didn’t make sense.

It’s just a matter of chance on how it will go down.

-- If you're going to stir the pot, think BIG spoon or SMALL boat paddle. David Grimes, Georgia


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