The question with real estate is always: "Location, location, location."
Neighborhood. Traffic. Schools ( even if you don't need them a future buyer might ).
Do a search for comparable units in the area that are advertised as having been upgraded and see what the prices are. Recent sales are better than real estate listings as the sales give the actual price rather than a wish.
Subtract your cost from the recent sales prices for comps and see if the difference covers your improvements. Remember to factor in that you will have lived there for 3-5 years essentially rent free if you proceed. You can calculate a reasonable cost savings for that by multiplying your current rental costs by 12 and figure out how many years it will take.
Neighborhood. Traffic. Schools ( even if you don't need them a future buyer might ).
Do a search for comparable units in the area that are advertised as having been upgraded and see what the prices are. Recent sales are better than real estate listings as the sales give the actual price rather than a wish.
Subtract your cost from the recent sales prices for comps and see if the difference covers your improvements. Remember to factor in that you will have lived there for 3-5 years essentially rent free if you proceed. You can calculate a reasonable cost savings for that by multiplying your current rental costs by 12 and figure out how many years it will take.
