How to decide how many upgrades to do with your house

[ilovedolphins]

I have lived in my house for 20 years.  I bought it new.  It is a modular.  I still have stepping stones as my sidewalk and a dirt driveway that becomes a big mud hole when it rains or snows.  I would like to get a cement sidewalk and driveway, build a carport with a shed attached to it...or a garage.  And I would love to have a patio to relax on in the evenings.  But then I think I have lived here for 20 years like this and that would use up money for my retirement.

I don't know what my future holds after I retire...if I will stay here or move closer to my kids.  So I can't decide how much money to spend on it.

[The Walk of the Penguin Mich]

Why do you have to do it all at one time?  At the very least, I'd replace your driveway and sidewalk with cement.  This becomes more of a safety issue than anything.  There are ways that you can do this that will set yourself up for adding the garage and shed later.

A patio might be something that could be easily done anytime.

First thing to do would be to get an estimate as to how each piece would cost, then compromise on that that keeps you safe first, enjoyment second.

[ilovedolphins]

I had thought about doing it in segments.  I had wanted to get the sidewalk and driveway done this year before my parents started to fall apart and I spent most of the spring and summer at their house.  I think I might just go ahead and get an estimate for that at least and see how much it would be.  I have no idea how much any of it would cost.

[sesfw]

I agree with driveway and sidewalk.  If you want/can spend extra, look into pavers for  at least the sidewalk.  Might spruce up the whole look of the outside.  I like pavers for a driveway but that can really run into money.

Definitely segments ........ otherwise you might have sticker-shock and not do anything.

Good luck on your search

[billisonboard]

Aug 25, 2019 13:28:29 GMT -5 ilovedolphins said:

I have lived in my house for 20 years.  I bought it new.  It is a modular.  I still have stepping stones as my sidewalk and a dirt driveway that becomes a big mud hole when it rains or snows.  I would like to get a cement sidewalk and driveway, build a carport with a shed attached to it...or a garage.  And I would love to have a patio to relax on in the evenings.  But then I think I have lived here for 20 years like this and that would use up money for my retirement.

I don't know what my future holds after I retire...if I will stay here or move closer to my kids.  So I can't decide how much money to spend on it.

Obviously you don't care enough about doing any of these upgrades or you would simply do them.

[Tennesseer]

You can always use your newly paved driveway (the end closest to the house) as a patio until you decide to make an addition to the property.

[ilovedolphins]

Aug 25, 2019 14:59:02 GMT -5 billisonboard said:

Aug 25, 2019 13:28:29 GMT -5 ilovedolphins said:

I have lived in my house for 20 years.  I bought it new.  It is a modular.  I still have stepping stones as my sidewalk and a dirt driveway that becomes a big mud hole when it rains or snows.  I would like to get a cement sidewalk and driveway, build a carport with a shed attached to it...or a garage.  And I would love to have a patio to relax on in the evenings.  But then I think I have lived here for 20 years like this and that would use up money for my retirement.

I don't know what my future holds after I retire...if I will stay here or move closer to my kids.  So I can't decide how much money to spend on it.

Obviously you don't care enough about doing any of these upgrades or you would simply do them.

I was a single mom of two for most of my kids lives so now is the time I have more money.  You can't do much without money.

[Rukh O'Rorke]

Aug 25, 2019 15:06:14 GMT -5 ilovedolphins said:

Aug 25, 2019 14:59:02 GMT -5 billisonboard said:

Obviously you don't care enough about doing any of these upgrades or you would simply do them.

I was a single mom of two for most of my kids lives so now is the time I have more money.  You can't do much without money.

too true!

What is your timeline to retire? 

What about the proposed projects would give you the most enjoyment and/or biggest resale boost?

[ilovedolphins]

I hope to retire in 8 years.  I am sure a paved sidewalk and driveway would be good for resale.  I would really like a shed or something to put my outside equipment in so I can get it out of my spare bedroom.

[Cheesy FL-Vol]

Check out this website. We found this helpful in determining the average price of interior renos to help us understand costs and to help determine if a quote was outrageously out of line.

Whatever you decide to do, be sure they are licensed and insured. Never pay for the work in full before it is completed.

www.fixr.com/costGuides.html#section_1

[laterbloomer]

I spend within my means to make my place as close to my dream as possible. I hope to live here for at least 30 more years. I redid my driveway as part of that. It has the bonus of adding value for resale if i need to for some reason

[Knee Deep in Water Chloe]

Do you own the house and the land or just the house?

[ilovedolphins]

Aug 25, 2019 18:53:42 GMT -5 Knee Deep in Water Chloe said:

Do you own the house and the land or just the house?

I own the house and the land.  I feel as if I am behind on retirement savings so I guess that is the part holding me back.  But I would also like to get my yard to look like the others in my circle.

[Tennesseer]

Aug 25, 2019 19:00:57 GMT -5 ilovedolphins said:

Aug 25, 2019 18:53:42 GMT -5 Knee Deep in Water Chloe said:

Do you own the house and the land or just the house?

I own the house and the land.  I feel as if I am behind on retirement savings so I guess that is the part holding me back.  But I would also like to get my yard to look like the others in my circle.

How are the homes selling in your area? Are the house prices rising! Lowering, or pretty much the same for some time. You cannot predict what homes in your area will be selling for once you plan on retiring and maybe moving but it cannot hurt your home sale with having a cement drive and walk way.

I live on a cove. All have two-car garages. A neighbor across the street and a few homes down converted his garage into a family room. He put his home up for sale and there were zero offers. Buyers want garages. Don't know what his plans are to fix that problem.

[ilovedolphins]

I'm not for sure how the houses are selling.  Everyone around me has been here for years.  As far as our town I'm not for sure how homes are selling....besides there are a lot for sale.

[Knee Deep in Water Chloe]

Well, a paved driveway would definitely help resale value. So, even if you did move, that would be a bit more of an investment. 

[Deleted]

"Modular home" can mean a lot of different things.  Some of them depreciate- those would be the ones that are trailers installed on a semi-permanent foundation.  Others are more like traditional house but made up of a few segments that are transported to the site and then put together.  (I once had a very bad drive through the Smokies when I had to pass 3 of those pieces over a few miles.  Scary.)  I'd think those would appreciate in value similar to traditional houses.

So, that's part of your decision.  DH and I always made our home improvement decisions based on what WE wanted and what made the house liveable for us.  We may have broken even when we sold 12 years later.  Same with my current house; enclosing the screened-in back porch to make a 3-season room cost way more than expected but I love it.

It's probably most realistic to assume that your improvements may make the place sell faster but won't increase the price by whatever you put into them.

[raeoflyte]

Before you spend the money, I'd look at what it would cost to buy a home with those amenities.  Depending on appreciation, you may be able to buy a place with what you're looking for without spending much if anymore per month (although consider your term of mortgage payment in there as well).  

[ilovedolphins]

I own my house so I would probably have to take out a loan to get to a house that has all this work already done.  I haven't priced houses lately.  But I love the area I live in.  It's a circle street with very little traffic.

[tskeeter]

Since cost is a consideration, here are some options for accomplishing your objectives.

Asphalt is less expensive than concrete.   Do the driveway and walkway in asphalt.  Normally, you can do a finished asphalt driveway for the price of the materials for a concrete driveway.  So using asphalt should save an amount equal to the labor to lay and finish the concrete.

Rather than a concrete patio, consider a low wood or Trex deck.  Something about one step up from the ground.  A Trex type of material would be very low maintenance, will probably last as long as you do, and may cost significantly less than a concrete patio.

[haapai]

I don't upgrade. I patch.

If someone else wants upgrades, they can buy the place from me and install exactly what they want on their own dime and timetable.

I bought the house when I needed housing and buying was unexpectedly cheaper than renting. Pretty much every home project that I have undertaken since then has been guided by the terror of homelessness and what I was looking for (minimalist. code-compliant shelter)) when I bought the place. I've replaced the furnace, hot water heater and shingles. I've arranged to have a very sturdy tree that had tapped its roots into the main drain removed, the stump ground, and eventually replaced the extremely perforated main drain.

About ten years after buying the place, I am finally replacing the clouded double-pane windows but only because the sills on several other windows are shot. What looks like an upgrade, or at least someone tackling decades of deferred maintenance is really just a side project.

Don't even ask me about replacing the kitchen linoleum or replacing the A/C. I'm sure that stuff might have been functional and sufficient a year before I bought the place but I'm still way too worried about sleeping in ditches or under bridges to give a flip about either.

The house is on a corner lot in a not-too-prosperous neighborhood and the next buyer will either be a landlord or someone buying with a USDA or FHA loan. Neither of these buyers are going to pay much for upgrades, polishes, or frills. The base cost of shelter is going to be the only thing that they consider.

I'll upgrade when I am willing to absorb the entire cost of the upgrade and I will not be seduced by happy talk of improving my property values or resale.

I sincerely hope most of you think me to be insanely short-sighted and lacking in house-pride. The fewer people living the way that I am, the better. Unfortunately, I just can't ignore the basic facts of the neighborhood in which I live and get on the "it's an investment" bandwagon.

[Deleted]

Aug 27, 2019 13:21:43 GMT -5 haapai said:

I don't upgrade. I patch.

<snip>                

I'll upgrade when I am willing to absorb the entire cost of the upgrade and I will not be seduced by happy talk of improving my property values or resale.

I agree with this.  In the two houses I owned in NJ, it was all I could do to keep them in decent repair when something broke.  Never mind "upgrades".  I lucked out and sold both in hot markets and made a lot but there are no guarantees.  (They may, in fact, have been easier to sell because no one was paying for expensive upgrades.)  As noted earlier, the upgrades in the last house DH and I owned didn't do much if anything for the resale value but we cash-flowed them and enjoyed them while we lived there.

During the time when house prices were depressed, one HGTV show would feature 3 remodels with a "contest" to see which one had the biggest payback, measured by appraisals before and after.  Someone would plow $30K into a kitchen remodel and the value of the house would increase by $50K.  Magic, huh?  I could see that happening only if the house was originally far below the standards in the rest of the neighborhood.



 

[Deleted]

Aug 27, 2019 13:21:43 GMT -5 haapai said:

I don't upgrade. I patch.

If someone else wants upgrades, they can buy the place from me and install exactly what they want on their own dime and timetable.

I bought the house when I needed housing and buying was unexpectedly cheaper than renting. Pretty much every home project that I have undertaken since then has been guided by the terror of homelessness and what I was looking for (minimalist. code-compliant shelter)) when I bought the place. I've replaced the furnace, hot water heater and shingles. I've arranged to have a very sturdy tree that had tapped its roots into the main drain removed, the stump ground, and eventually replaced the extremely perforated main drain.

About ten years after buying the place, I am finally replacing the clouded double-pane windows but only because the sills on several other windows are shot. What looks like an upgrade, or at least someone tackling decades of deferred maintenance is really just a side project.

Don't even ask me about replacing the kitchen linoleum or replacing the A/C. I'm sure that stuff might have been functional and sufficient a year before I bought the place but I'm still way too worried about sleeping in ditches or under bridges to give a flip about either.

The house is on a corner lot in a not-too-prosperous neighborhood and the next buyer will either be a landlord or someone buying with a USDA or FHA loan. Neither of these buyers are going to pay much for upgrades, polishes, or frills. The base cost of shelter is going to be the only thing that they consider.

I'll upgrade when I am willing to absorb the entire cost of the upgrade and I will not be seduced by happy talk of improving my property values or resale.

I sincerely hope most of you think me to be insanely short-sighted and lacking in house-pride. The fewer people living the way that I am, the better. Unfortunately, I just can't ignore the basic facts of the neighborhood in which I live and get on the "it's an investment" bandwagon.

Actually, this is us.  We have spent a lot on infrastructure.  We are still living with horrid carpet.  But DH and our dog both have accidents.

[Deleted]

Aug 27, 2019 21:40:28 GMT -5 @bamafan1954 said:

We are still living with horrid carpet. But DH and our dog both have accidents.

DH and I lived with a carpet that had a grungy area where you passed from the kitchen to any other room in the house, thus very high-traffic. We lived with it till just before we put it on the market. The improvements the OP is considering are semi-permanent, but it makes less sense to me to make improvements that can look worn or outdated by the time you sell.

[jelloshots4all]

Four years ago I started on household projects.  The quote for an asphalt drive was ok.  A friend had a friend who had a cousin that could do concrete.  I got his quote for my driveway and pouring a new patio for my back yard.  He did great work on both but was an independent and even though I told him from the start I wanted to pay via credit card for miles, he demanded cash.  It worked out okay, and I couldn't be happier with my driveway and patio.

[hoops902]

How I decide on upgrades/renovations:

1.  How much do I have to spend?  This is nearly always my first question because it's so easy to get out of control by adding things on and on and on (and I'll still occasionally add something on or go over, but I try to make that determination before I start work and then don't add on while in-progress).

2.  What are all of the things/combinations that I could spend this on?  I make a big list of all the things I'd ideally like to do, and try to estimate prices on each.  

3.  How long do I plan on staying in this house?  Because I don't want to super personalize something if I'm likely to leave relatively soon.  I pretty much never care about "getting my money back", but I'd really prefer not to personalize something so much that it detracts from my home value (i.e.  I'm not eliminating a bedroom to make a massive closet if I'm going to be moving anytime soon).

4.  Where do each of these things rank in terms of how much I'd enjoy them, or inversely, how much I hate the current condition? (i.e.  I might not really "enjoy" new carpet, but if a particular stain drives me up the wall, maybe eliminating the annoyance moves up the list).

5.  How much work is each of these things?  That could mean either how much of the work will I be doing myself, or how much hassle will it be, do we have to live without a kitchen for a month, will the house be torn up substantially with 2 little kids running around in the mess, etc.  

Then I start making combinations of things that fall within the budget.  Maybe it's items 1, 3, & 4 on my list, or I could do 2, 4, &5 on my list, or I could do 4-10 on my list, etc.  And I figure out which combination would make me/us happiest.  Because I tend to do a lot of the work myself, it's often #5 which is the inhibitor (also because the more work you do yourself, the cheaper things are to do, and therefore you can do more of them).  

[happyhoix]

Aug 25, 2019 19:27:22 GMT -5 ilovedolphins said:

I'm not for sure how the houses are selling.  Everyone around me has been here for years.  As far as our town I'm not for sure how homes are selling....besides there are a lot for sale.

You don't want to have the fanciest house in the neighborhood, you'll never sell it for what you put into it. But if most of your neighbors have concrete driveways and sidewalks, making yours to match should improve your resale value.

The guy across the street from me built a 4000 square foot McMansion on a very steep lot. It doesn't really have a yard, just steep slopes, and a small area right behind the house to park. It does, however, have great views out the front windows.

With his house being 2 x the square footage of the other houses, and 2 x the selling price of the other houses, he wasn't able to sell it. He had it on the market for about six months, then took it off again. They're working on doing some improvements to the yard (trying to grade parts of it to make it mowable, and planting some shrubs). I doubt he'll be able to get what he put into the house.

[tallguy]

I am in a bit different situation.  I plan to be in the house forever, and then pass it to my son so no resale concerns.  There are a number of things I want to do, but only a few that need to be done.  I will most likely cash-flow them at five to ten thousand dollars per year for now with an eye on what will make me feel best about doing it.  Carpet entire upstairs, new living room furniture, re-do lawn with new sod (or maybe artificial turf since I will be travelling a lot) are on the list now.  Painting is easy, so no concern about that.  Maybe a few new plants here and there.  The rest?  Who knows?  I'll figure it out as I go.

[debthaven]

The driveway sounds sort of like a need/safety issue.

My sister (in Long Island, New York) got a fabulous price on her patio because since it had been in disrepair for years, she was fine with having it redone in the winter. The contractor didn't have much work in winter so he did it on his timeline and gave her a fantastic price. I second what tskeeter said about a Trex deck. (I was thinking of that but didn't know what it was called.)

A shed isn't expensive. And I'm sure it would be even cheaper in winter when people aren't thinking about their garden. I'm guessing you could get a great deal on "last year's model" at a big box store in late summer/early fall. 

You work hard, you've raised your kids, and you take great care of your parents. You deserve to have a home you can be happy and relax in.

Just space out the work and get at least 2 estimates for every item. Aim to do one bigger item or two smaller items per year, and you'll eventually get there.

Good luck!

[countrygirl2]

We did a garage apron, it cost us $6000 but its really nice. Not sure how big but we can park 2 pickups on it with room left over, maybe 30 X 30?? Would have to measure it, sure made it nice getting out of the mud. We spent $10000 on our driveway, it had to be strong enough for the motorhome.  We put in a circle drive, we hired a guy and he did the work, we had to buy that plastic underlay, I think the roll was like $300 or so. But we have a huge parking area by the house, you can turn a 40 foot motorhome around in it and it goes way back in front of the garages, hubs added more, so you could do one for a whole lot less money then that, believe me. Ours had gravel then white rock, we have a very good base and it will hold a 30000 pound motorhome.  Every few years I have a few loads of rock added, with hubs home he can now spread it.  Though he knows the guy that owns the rock hauling company and they do a good job spreading it for us.  It really did upgrade the house.  The other owners had mud outside the garage floor and a single drive.  but then we also added all the garages about $80k.  I don't know what our neighbor spent but he has a blacktop drive, it's not an 1/8 as long as ours but still I'm sure it costs, hubs doesn't like them, said they can get sticky in heat, but it certainly looks nice.

If your driveway has a good base, white rock does wonders. I was going to get a concrete walk done from the back to drive and they wanted $3k, didn't get it done, we have one in the front.

But you could get a nice shed for probably a $1000 or so.  Even Lowes or places has the plastic ones, if you don't have a lot of high windsor get someone to pour a concrete slab and put it up. Probably can get done for a couple thousand I'm thinking 8 X 12 or something like that. Now patios can get expensive.  But again you could do a slab or could even get someone to cut down, put in sand and do pavers, that would be nice.  That's like us about all else we will do is new floor coverings.  I'm still waiting, my carpet isn't worn, oh some walk way in the bedroom, and 16 years old but its been cleaned several times and in the living room unless I vac it often to me has spots and I have 2 whiter spots on it that are obvious.  Hubs is oblivious to it.  My feet need carpet, but with hubs home and now a grandson, I think laminate would be better, he wants hardwood but no time to do it and I'm not sure I could, so we are stuck right now.

Good luck with whatever  you decide. Is your modular on a foundation?  If not might be considered a mobile and they depreciate, if so I would not spend much.