1747: Does Remodeling Pay Off - Probably Not by Sam of Financial Samurai on Home Renovation Return on Investment

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 21 December 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sam of Financial Samurai tells you why remodeling probably doesn't pay off Episode 1747: Does Remodeling Pay Off - Probably Not by Sam of Financial Samurai on Home Renovation Return on Investment Sam Dogen's net worth took a beating in 2009 as the world was falling apart. He thought it would be a good idea to start a personal finance site to help himself and others make sense of chaos. After all, he had spent 10 years working in the finance industry, got his MBA from Cal, invested and saved aggressively, and still got financially rocked! Since then, more than 20 million visitors have stopped by FinancialSamurai.com. The original post is located here: https://www.financialsamurai.com/does-remodeling-pay-off-make-money/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily episode 1747.
0:04.0	Does remodeling pay off?
0:06.0	Probably not.
0:07.0	By Sam of FinancialSamurai.com
0:10.0	And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.0	So let's get right to it and start optimizing your life.
0:22.0	Does remodeling pay off?
0:24.0	Probably not.
0:25.0	By Sam of FinancialSamurai.com.
0:29.0	Are you thinking about remodeling your home in this hot real estate market?
0:33.0	What you must realize is that oftentimes remodeling does not pay off.
0:38.0	In other words, remodeling does not recoup 100% of the cost of the remodel.
0:44.0	Therefore, you need to be strategic.
0:47.0	I've remodeled seven times before across multiple properties I own in San Francisco.
0:52.0	Let me give you some perspective on remodeling so you can get maximum profit.
0:58.0	The remodeling for profits fallacy.
1:02.0	In the article How to Make a Lot of Money in Real Estate, focus on expansion.
1:07.0	One of the questions was on whether remodeling really recoups the cost and provides such a large return.
1:14.0	One of the biggest fallacies homeowners have is thinking whatever they spend on remodeling
1:19.0	will automatically bring them great returns when it comes time to sell.
1:24.0	I used to think this way as well until I started remodeling and property expanding myself.
1:29.0	Let's be clear.
	...

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