MoneyWise


Remodeling Project Payback

March 8, 2019

The humorist Will Rogers once said, “I’m more interested in the return of my money than the return on my money.” Something to think about when we invest, especially if we’re investing in home renovation. Not all home improvement projects are created equal in terms of getting your money back out. On this Moneywise, Rob West and Steve Moore have some numbers for us, and some may surprise you. 

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If you're trying to set aside a few thousand dollars per year to save up for a new house, is it better to put the money into certificates to be safe or should you put it into the market?
  • If you and your spouse have $30,000 saved, and you're looking for a larger home, how do go about keeping your current home as a rental?
  • If you'll be 50 this year, and I want to buy a home, is it better to just buy it now instead of renting and waiting 2-3 years to save the 20% downpayment?

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