Buying A Home
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Upgrades for a condo

For a small place (less than 1,000 square feet), what upgrades would be the best investment for resale?
Beautiful baby girl born at 34 weeks due to vasa previa.   Finally home after 15 day NICU stay!

Re: Upgrades for a condo

  • I would not look to real estate as an investment to make money on resale - Right now you need 7-10 years just to recoup your buying and selling costs, much less any profit.

    As for upgrades - this is something to talk with a realtor about as to what is popular in your area for buyers of your kind of condo

  • Keep an eye on the condos in your development that are up for sale - check out open houses or view them online. Look at what you paid and compare it to what they are selling for as well as what kind of updates they have. I sold a condo unit to a client May 2011 - he has since added hardwood floors, granite counter tops, stainless steel appliances, etc. We told him not to spend a ton on upgrades since the condo wouldn't sell for what he paid + the upgrades. He has 2 years left before he can sell it and there isn't any way the condos in the development will shoot up 10-15k to recoup. Good luck and check out the local market before doing anything. There are nice upgrades that can be had without the $$$ - formica 180fx countertops get rave reviews for MUCH LESS than granite.
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  • We have a condo in the Chicagoland area. There is no investment resale on a condo. Do what you are willing to spend to make your time pleasant and feel like your home. 
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