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It's a small condo (about 800 sq ft) and it's my first home. How much should i be spending on this kitchen? Is there such a thing as upgrading too much?
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Posted: Jul 06, 2008 at 3:17 PM
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Dave
I think the first thing you have to do is take the amount of what you paid, subtract it from what the value of other similiar units go for. This woul be the amount you have to work with. One way fo finding out what it is really worth is to have a realiter appraiser come in. They are pretty good in letting you know what a buget amount not to over exceed the value.
Dec 14, 2008 at 10:02 AM
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The easiest way to tell what you should do and what is too much is to look at what everyone else around is doing. Go to as many open houses as you can in your area and within your price range. That will give you a great idea as to what the competition is doing.A lot of people put a big hunk of money into something like granite or high-end appliances only to find out their market doesn't support those types of upgrades.
Another great way to tell is to ask your Realtor what buyers expect when looking in your area.
Hope that helps.
Jul 8, 2008 at 10:44 PM
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Hey Dave,
The amount you should spend on your kitchen depends on how long you plan on living in the condo yourself and what you plan on doing with it after you leave. Would you consider this an entry level building or a luxury building? Are you going to try to rent it out or sell it when the space no longer meets your needs?
-Tom
Jul 7, 2008 at 4:53 PM
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I think there is such a thing as upgrading to much. If this is your first home I wouldnt suggest splurging on Viking appliances. The question is how much can you afford? Is the rest of the condo in terrible condition or just the kitchen? If you are on a budget, try to just upgrade the things that need the most fixing. The good thing about improving a kitchen is that it always gets paid back when you turn around and sell the place.
Jul 7, 2008 at 4:21 PM
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