Reader Question: We are empty nesters nearing retirement. We are considering a major remodel of our home that would involve some destruction, an addition, and a total makeover, including a new kitchen, bathrooms, floor coverings, lighting, and more. The thought of building new has entered the conversation as an option. What are the pros and […]

Reader Question: Would a geothermal system installed at my home increase the value? I don’t want to sell, but before I have this expense, what it will do to the value of my house? Monty’s Answer: There is a considerable amount of information that is required to assess individual property accurately. As with any high-cost […]

Reader Question: I blacktopped my driveway and turnaround area to my garage. My house was for sale, and several people objected to the gravel drive. The house went under contract as soon as the work was completed. It looked great, and the buyers loved it. No issues. A month after closing the new owners contacted […]

Reader Question: Back in 2001-2002, we remodeled our home without a permit. We didn’t know it was required. Now we want to sell, and the question is on the seller condition report. Is there any way to overcome that issue now? Monty’s Answer: Permits can be a challenge for several reasons; ordinances change over time, […]

Reader Question: We are not selling our home anytime in the foreseeable future. We are wondering how much the value of our property will increase if we invest in blacktopping our gravel driveway? Monty’s Answer: Blacktopping your driveway may or may not increase the value of your property. Because certain variables impact the desired outcome, […]

  Reader Question: We have enjoyed our home for over five years. In addition to great neighbors, we like the neighborhood amenities, the convenience, and proximity to work. However, we need more room as our family has grown. We are well situated financially, but we do not want to have wasted capital when we sell […]

Reader Question: Did we make some costly homeowner mistakes? We are selling our home we bought 40 years ago. We finished the unfinished upstairs ourselves to save money after we bought it. We raised four children here. Now the real estate agents say because one of the bedrooms is accessed through another bedroom and lacks a […]

Reader Question: ​How will adding solar panels to my home affect its value? Are the panels an asset or a liability? Does their value change with time? ​Monty’s Answer: You are asking questions that rely on science and future events that are beyond the scope of my expertise. With that qualification, here is one person’s […]

Reader Question: Will a $15,000 to $19,000 laundry room added to the back of my home add enough value to be justifiable? The house is worth about $150,000. It is a three-bedroom ranch built in 1997 with a gas fireplace and a remodeled kitchen. It would be something my wife would enjoy and make good […]

  Reader Question: I am worried that my home improvements are not going to pay off at all when I sell my house. Do all home improvements make financial sense? Jason C. Monty’s Answer: Not all home improvements make financial sense. Some homeowners make improvements because they want a particular feature or “feel, ” without […]

Reader Question: I am considering buying a home built in 1908. The basement has a dirt floor. Is there any financial advantage in have the floor finished with concrete? Monty’s Answer: Hello Michael, and thanks for your question. Homes with dirt floors in the basement are more common than we realize. Let us assume there is […]

Reader Question: I have seen estimates and rules of thumb regarding the value added to a home by finishing the basement. They vary widely, from $20.00 to $90.00 per square foot. An online website values my home for $150 per square foot. At a $20.00 per square foot return, finishing the basement isn’t worth my […]

Reader Question: Monty, our company is expanding. We have an eye on a 10,000 square foot all-brick warehouse built in the 50’s. We want to gut it and turn it into an edgy-high tech office. We expect we can invest about 1.3M including 500T for improvements, based on the market rents in the neighborhood. What is the […]

Reader Question: Dear Monty, My wife and I recently purchased some lakefront property. The property contains two small, similar lots. We plan to keep both of them. One lot has a cabin, and the other is vacant. We currently pay property taxes of $800 (cabin parcel) and $550 (vacant parcel). At the time of purchase, […]

Reader Question: Monty, Thanks for answering my earlier question about not having a set of plans and specifications for our to-be-built home. I wish I had known about your How To Choose A Builder article 3 weeks ago. I gave the builder a deposit and signed a contract, but I have no plans and specs. […]