+ Reply to Thread
Results 1 to 9 of 9

Thread: House Project

  1. #1
    Join Date
    Jun 2008
    Posts
    7

    Default House Project

    I purchased my first house a 960 sq ft home built in 1949 about two years ago, most the houses in my neighborhood were built about 1949 and are just as small as well. Is it a wise move to sink alot of money into renovations?

    example: I have aluminum siding I debated on having vinyl siding installed but fear that I wouldn't make my money pack I think I will paint the aluminum siding instead.

  2. #2
    Join Date
    Oct 2007
    Posts
    132

    Default Re: House Project

    I think a major question about any renovation or remodeling is how long you plan to stay in that house.... If you're remodeling for yourself or to sell?
    Your enjoyment of your own home and pleasure in seeing it are of utmost importance in my book.

    What are property values doing in your area (again, it goes back to how long you plan to stay there..).

    If you plan to add on or to install replacement windows, that should be done before you put on new siding (at least the windows!), and if your present siding is in good shape - sound - but you just want another color or to freshen it up, painting might be your answer. I don't know anything about painting over aluminum siding, but had metal siding painted by professional painters in my old house (siding was odd because it looked like big asbestos shingles, but was really siding - maybe steel - and they cleaned it with pressure sprayer and something first, then primed and painted. Looked great).

  3. #3
    Join Date
    Aug 2007
    Posts
    6,617

    Default Re: House Project

    I agree with Marjorie, in that renovations need to be done to suit your needs and tastes, after that the question of economic feasibility can only be calculated by the duration you expect to stay in the property.
    I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!

  4. #4
    Join Date
    Jun 2008
    Posts
    7

    Default Re: House Project

    Thanks for the input I was single when I first bought the place now have a wife and would like to start a family in a year or so. the house although small still a good starting investment
    just at this time I think updating the house making it energy efficient is a good starting point.

    thanks

  5. #5
    Join Date
    Aug 2007
    Location
    Maryland
    Posts
    1,258

    Default Re: House Project

    While I don't disagree w/ updating the energy efficiency of the house, there is plenty of info available from realtors about what improvements add the most to the resale vale of a house and average payback times.

  6. #6
    Join Date
    Jun 2007
    Posts
    143

    Smile Re: House Project

    I agree with the above posters while I am not a real estate sales person I am a landlord and think I can give you some good advice on what you should do.
    You need to ask yourself just how long am I going to stay in this house? If the answer is more than five years I would buy the vinyl siding it will certainly look better than aluminum siding.
    You also need to ask yourself will I need more space in the future and if so can I expand on what I have already. If not future plans should include looking for a larger house. That all goes back to my first question you need to ask yourself and your wife.
    As for other renovations provided you decide to stay in your present house for more than five years I would suggest a new kitchen, a new bathroom and while not many people think of it much an updated basement if you have one.
    If on the other hand you decide you want to move in less than five years I wouldn't go to a great deal of expense and instead paint your house. I also wouldn't skimp on making your house energy efficient. After all no matter how long you live there you need to be comfortable.
    If you do decide to move and can't sell your house renting is a very good alternative. I would consider renting your house on my own if I was you as I have known people who went with agents and they didn't supervise their property very well and it was damaged. You can't really blame the agents too much though after all they have a great deal of properties to consider and not just your own. Still though for your own piece of mind you might consider doing it yourself. Just make sure you check your prospective tenants out. There are agencies in every town usually that can run a credit check for you. If you don't already have a good lawyer make sure you get one who specializes in real estate law and can make a strong lease for your house should you ever decide to rent your house. Good luck to you and congratulations on your marriage!

  7. #7
    Join Date
    Dec 2007
    Posts
    13

    Default Re: House Project

    Quote Originally Posted by rmorris View Post
    example: I have aluminum siding I debated on having vinyl siding installed but fear that I wouldn't make my money pack I think I will paint the aluminum siding instead.
    I would just paint the siding. With correct prep. and priming aluminum siding holds paint well. If you're willing to put in the elbow grease to do it yourself you'll potentially save yourself thousands over having the siding replaced..

    If your siding is intact and in good shape I would generally spend more money on things that are deteriorated or are woefully outdated. Later circle back and cover the more cosmetic upgrades.

  8. #8
    sGal Guest

    Default Re: House Project

    My husband and I are in the exact same spot. Although, our housing market had taken a dive. We've concentrated on updating anything old or uncomfortable. We re-roofed a leaky garage, refinished wood flooring that was under old carpet, added new molding, painted to freshen up areas. My next task will be the out dated bathroom with damaged tile and a homemade/rigged up vanity & cheap linoleum tile. I figured that these are all repairs that will appeal to a buyer, aren't too expensive AND are important for our enjoyment of the house while we are living here. Good luck!

  9. #9
    Join Date
    Oct 2007
    Posts
    132

    Default Re: House Project

    There ya go, sGal - sounds like a good plan and plenty to keep you busy. You're so gonna love it when you're done!

    The housing market will eventually go back up, maybe not to the outlandishly high it was before, but it will go up... but you might be so happy with what you've done that you won't want to move! :-)

    I just think that making your surroundings nice and enjoyable is a good thing to do.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •