Latest comments for http://www.remodelrichmond.com , comment 0 to 3 out of 3 comments http://www.remodelrichmond.com Thu, 09 Feb 2012 14:17:57 -1800 FeedCreator 1.7.2 http://www.remodelrichmond.com/content/view/64/1/#pc_10 Mason, As a writer with Remodeling magazine, I can say that Nancy's comments exactly reflect the research I've been doing for an article to accompany our magazine's yearly Cost vs. Value report. We work with the National Association of Realtors on this report. All the realtors and remodelers I've spoken with say kitchens and bath upgrades sell a house. And today's rough housing market means it's a buyer's market--there is a lot of inventory to choose from and homeowners want houses that are done and do not require renovation. N - Nina Patel Wed, 08 Oct 2008 11:47:25 -1800 http://www.remodelrichmond.com/content/view/64/1/#pc_9 E.P: My favorite answer to such inquiries is "I am not a real estate professional"! However, since I do get SO many such inquiries, that's why I thought posting Nancy Frazier's advice here would be of some use to our readers. And obviously, based solely on her direction, the removal of your only tub in the house may be detrimental in terms of RESALE value. I encourage you, however, to read my "way back when" posting entitled "What is the Value?" Therein, I describe that there is another sort of value inherent in various remodeling projects - that of your personal use and enjoyment while you live in this particular house. It is significant, I think, that you describe this as your "retirement house". Should we assume then that the value to your estate is the only concern? That is indeed liberating, in terms of your possibilities. Nice not to be strapped with such fiscal concerns, and to be able to invest in what you will enjoy. If you do the math, in this case I would assume that this prospective expenditure creates no market-valued asset. Whether or not there's a liability depends on your perspective (do you ever expect to sell?). So, let's say that you expect to be there 15 years, and the cost is $5,000. Will your enjoyment of this conversion exceed 91 cents a day? To comparatively illustrate an easier scenario, if you were to do a minor bath remodel in such a way that would be accepted by the broader market, Hanley-Wood's Cost Versus Value study says you should get a 78.8% return on investment. Therefore, your cost not to be returned at resale would be $1,060, or 19 cents per day. Mason - mh Tue, 16 Sep 2008 16:57:20 -1800 http://www.remodelrichmond.com/content/view/64/1/#pc_8 This posting was of great interest to me as I just purchased a home. The main bath presently has a fiberglass tub/shower which I detest. I HAD planned to tear it out and create a walk-in shower with ceramic tile. This is our retirement home and that seems to better serve our purposes. (I haven't taken a "bath" in years! (:-) The other bath is a half bath. After readin this post, would you recommend that I rethink my current decision?? - E.P., Bon Air, VA Fri, 12 Sep 2008 15:16:47 -1800