is it wise to invest money in home upgrades in a bad housing market?

Answer 1

Depends on how long you plan to stay in the house. If you are considering upgrades merely as an enhancement to a possible sale, don't bother with anything expensive. Rare is the upgrade which will return you 100% of your cost upon resale.

If you're going to stay there for a number of years, do the upgrades, but consider them an expense to yourself for your own enjoyment.

Answer 2

Anything you do to your home will reflect in the selling price up to a point. However, there is also the question of how log do you plan on staying the home and what will be the value of the upgrade now versus later?

I plan on staying in my home for five years and thus I will realize the return on my upgrades of bathroom, kitchen and floors for both the long and short term. Where I staying shorter I would do less quality or more cosmetic than deeper more costly upgrades.

As an example I replaced both tubs with one person Jacuzzi tubs rather than cheaper or more elaborate surroundings. We are doing laminate flooring rather than wood so that way it'll remain looking good and won't suffer as hardwood flooring might.