Renovating your house, when is it right?

Renovating your house, when is it right?

Considering the fact that you have a house that was built in the early 80's in Surulere, when the economy was encouraging, you've been trying to maintain the house at least every 3 years by re-painting and doing minor pipe works servicing, but since the late 90's there's not been much income to maintain the house. Does it really make sense to keep on maintaining the house inspite of the fact that tenants would not be willing to accept any significant rent increase.
Perhaps it would be better to sell the house and buy shares since renovating or remodelling it would be too capital intensive especially when there's no reasonable source of capital?

Posted by bosun on December 13, 2007 at 14:07:02:

In Reply to: Renovating your house, when is it right? posted by Biodun on December 13, 2007 at 12:26:29:
Investing or tying down your resources in real estate now is not as profitable as the stock market. Especially when you say that you don't have any other significant source of income to maintain it.

Posted by Rivers on December 13, 2007 at 14:07:21:

In Reply to: Renovating your house, when is it right? posted by Biodun on December 13, 2007 at 12:26:29:
Mortgage your home by getting a loan from a bank to buy shares in al these current public offers like FCMB'S

Posted by Ferlong on December 13, 2007 at 14:07:51:

In Reply to: Renovating your house, when is it right? posted by Biodun on December 13, 2007 at 12:26:29:
kEEP the house. Getting a loan from the bank is not cool