House is 20 years old and value is $650K. What is maximum to spend on full deluxe remodelling job to assure a reasonable payback? Home is NW suburbs of Chicago, IL. where average house sells for $700K+
Answer:
Not a single penny! In that price range in particular, if you remodel, it will cater to only a small percentage of potential buyers. Others will plan their remodelling and be able to pay for it. Your new remodelling job will probably be seen as something you wanted to cover up.
