[quote=CA renter] . . . We are now in the process of “upgrading” pretty much everything our new house, and are not thinking at all about resale value, since we plan on staying here for the rest of our lives (God be willing). The whole notion of housing being an “investment” is what got us into all this housing trouble in the first place.[/quote]
Of course you want to make your recently-purchased property exactly as you want it for your daily needs, CAR. Especially if you bought it a bit under market. HOWEVER, I DO think it is financially foolish to install a +/- $3K “gourmet range” into an (avg) $350K property in a working-class neighborhood, under ANY circumstances, for example. Perhaps in an (avg) $550K neighborhood, it might be “worth it” to do so, if the homeowner stays long enough to enjoy it themselves.
But if you were planning to sell (or rent your property out) in less than 3 years from now (as I am), would you STILL invest the kind of $$ in it that you are currently spending??
