Should You Sell Your House or Renovate It?

Posted on March 7, 2015 by admin

Should You Sell Your House or Renovate It?

by: Geoff Williams

Should You Sell Your House or Renovate It? – US News

The math may sway you. Sell or renovate? If you’re leaning toward selling, but are toying with making upgrades to increase the sticker price, know this: A major renovation won’t always spell a big payoff.

 “My wife and I just went through this debate,” says Bennie Waller, a professor of finance and real estate at Longwood University in Farmville, Virginia. They did their due diligence and collected estimates, but realized renovating would be very expensive. “We didn’t think we would ever be able to recoup the cost of the investment when it came time to sell,” he says.

So they decided to buy a new house – and keep the old one so they could rent it out for another income stream.

“I examined the decision purely from an investment perspective,” he says.

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