In light of what I wrote last month, I penciled out what I would need to sell my house for to "break even" on my remodel investment: it came to $1,750,000 (inclusive of all commissions, etc.). That's not unreasonable for my area at all ... even now. But now wouldn't be the time to sell and I've conservatively valued my home based upon similar sales, etc. In fact, before I spent the $500K remodeling the home, this time last year, I got appraised at just under $1.2MM, so my value of $1.3MM seems even more reasonable $500K later ... right? |