Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Joyce G.
0
Votes |
1
Posts

Should I remodel before refinancing?

Joyce G.
Posted

I bought a condo (townhome style) here in Bothell, WA in March2020. I only paid 10% down for 431k at 3.5% interest rate. I am now thinking about refinancing + putting in the additional 10% in order to lose the PMI.
I have a locked rate of 2.75%. The homes in my neighborhood have been selling about $420k and maximum $435k. I wanted to update all bathroom floors and change the master bedroom’s single vanity to a double vanity. Estimate of all these updates would be around $5-$6000. 
My mom (who is a realtor in California) said not to bother with the remodel and instead put that remodel cash into the home, as it would decrease my monthly payments and she didn’t believe such remodeling would actually add that much value. 

Any opinions here? I’m thinking at the very least to do the floors ($2k) and then not bother with the vanity. Should I just go all in with the remodel or listen to my mom and put that money into the house?


Loading replies...