Don't spend too much fixing up home you're going to sell - PostBulletin.com: Local Business

Don't spend too much fixing up home you're going to sell

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Posted: Saturday, February 25, 2012 11:04 am

Dear Dave: My husband’s company recently told everyone that massive layoffs are coming and they should start looking for other jobs. Right now, all of his options are out of town. A real estate agent told us we’d have to remodel our kitchen in order to sell the house. We’ve got $3,500, but remodeling would take about $2,000. Should we get a second mortgage to get the work done? — Pamela

Dear Pamela: You might want to get another opinion. Sure, a new kitchen would be nice, but is that the end-all, be-all? Either way, there’s no way I’d go into debt to make this happen. Your house isn’t even on the market yet. There’s no reason to fix up a house that’s not for sale, especially when you only have $3,500 to your name.

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