I live in California. I own a condo that I want to update. Is it worth it?

Question

I have a 2 story home with 3 bedrooms and 2.5 baths.

It has a two car garage and has a small yard.

My husband and I plan to get pregnant soon.

We will have our mortgage paid off next year.

We intend on staying where we are probably permanently since California homes are expensive and there’s no way we can buy another home and afford to have children too.

I intended on spending about $40,000 to update everything and put in new kitchen cabinets and granite countertops.

Problem is in our neighborhood these updates aren’t the norm. My mother keeps saying one day we may move and rent out our home and then we will never make our money back.

I don’t know what to do!

Any advice?

I live in North County. About 5 miles from the ocean. I am kind of near the border of Orange County and San Diego county, so my house isn't too close to the Mexico border.

Answer 1

I'm also in North County, Escondido and you will get more than your money back. There is a huge condo conversion from apartments going on up here and even really tiny units are selling like crazy. As housing here becomes increasingly out of reach for middle class Americans, the condos are the solution for people who cannot afford the median price of a home in San Diego county. Just down the street they are advertising 2 bedroom, 1 master bath, 1200 sq ft for nearly $350,000! Kitchen remodels always give a good return on your investment. Just wait, the neighborhood will catch up to you. I remodeled my kitchen when my home was brand new 8 years ago and spent $30,000 to do it. Now everyone else is starting to realize tile is out, granite is in and they are re-doing their kitchens for a lot more than I spent!

Answer 2

Antique furniture is one of the keys to decoration. Gracefully bestowing style on a room is not as expensive as you may think. Going to an antique dealer can turn out to be quite costly because you end up having to pay for restoration.

However, if you look around in secondhand markets you are likely to come across some surprising finds at reasonable prices.

Here are ten household helpful hints for furniture styles and placement:

1. If there is a special piece of antique furniture in the room it will probably become the central feature, so organize according to it.

2. Restoring, stripping, or painting a piece of furniture can give it a new lease on life.

3. Reupholstering chairs, armchairs, of sofas is an economical way of renovating furniture.

4. Movable furniture on wheels and foldable chair and tables are ideal for small, multifunctional spaces.

5. Furniture can be used strategically to divide up spaces and create different ambiences.

6. Architecturally challenging spaces should be furnished with clean, crisp-line furniture.

7. When choosing furniture, analyze which pieces are really necessary and which can be done away with.

8. Auxiliary tables, like coffee tables, are vital for multipurpose rooms.

9. Use an antique piece of furniture for inspiration or as the starting point when appropriate.

10. Use furniture to link the different rooms in the house together.

Answer 3

Well, you may just rent your home like your mother says. But - considering the high costs of owning property in CA., I'd say go ahead and do the improvements and expect to get your money back. Trust me. If you checked into other real estate in different states - you'll feel like a millionaire at this point.

Answer 4

I live in Orange County. We upgraded our entire downstairs last year- scraped ceilings, paint, molding, wood floors, etc. We did it only because we enjoy having the upgrades. It's nice to come home to a clean fresh-looking place.

In So. Cal you'll always get your money's worth in upgrades. We live in a so-so neighborhood. Prices have doubled on our condos. A neighbor bought six years ago and paid $150K.
We purchased fours years ago for $200K. Another neighbor just bought theirs for $425K.

Go for the upgrades and enjoy!!!

Answer 5

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Answer 6

your mother is not correct you should update it for your own comfort but the most important thing is the furnitur. that is what makes the home I just bought some beautiful furniture and it is like a new house. Try http://www.gallssolidwood.com. Give them a call they really helped me.

Answer 7

Try asking a professional real state agent in your area. Really, sometimes people here are so lame in trying to decide what to do. You mean it NEVER occurred to you to ask a real estate agent or broker? Good grief!

Answer 8

depends..if you'll be selling eventually and you aren't considering things like Corian counters or Jacuzzi tubs and marble floor tiles then why not...you'll be living there for at least 3 more years...

Answer 9

I live in California too... what city (or at least what general area) are you in?