I am in the process of remodeling a Year-1900 ROCHESTER NY house with:New plumbing, adding a bathroom, adding a shower to an existing bathroom etc (Plumber has a permit)New electrical service & circuits, new lights & outlets to existing rooms, upgrade to 200 AMP (Electrician has permit)Kitchen is being updated by general contractor, some new reframing for bathrooms but no major moving of walls. 

Though it's not worth spending several thousand to upgrade a system that doesn't need it.As a personal primary home, you can exclude $250,000 of gain ($500,000 if married) upon sale.

We are updating/upgrading one of the Kitchings (floors, cabinets, and appliances) and adding a new Kitchen to the 3rd unit along with a mudroom since that will be the unit that we pan to move into.

Some people have been more fortunate and have had both the time and money to upgrade their wardrobe, even if it’s just for Zoom conference calls.

The total cost of the kitchen upgrades works out to around $6-7K per unit, if that makes any difference.  

I am an investor in Clearwater, Fl from NJ, one year ago, I purchased a property in Clearwater, I surprisingly found out there is a large garage in the backyard have existing plumbing and electricity in it, also I can tell the previous owner have already turned the garage into two bedrooms in-law suite, but they cover all the things up for selling process, so I wonder 1. if necessary to invest more money to upgrade the garage into an in-law suite, so I can rent out to one or two tenants for extra cash 2.

We've initially focused on bringing in the right tenant base and upgrading community and landscaping areas.

203k Benefits to Buyers/Borrowers (not all inclusive) Renovate home with little/no additional out-of-pocket expenseLow down payment (3.5%)Combine purchase/refinance + rehab funds into one low-interest, tax-deductible mortgage which is based on the improved appraised valueInclude mortgage payments into 203k if home is not livable during renovationsSubmit a strong purchase offer if presented properly to sellerBuyers face less competition from other buyers to purchase fixer-uppers, foreclosures or older homes that are outdatedBetter opportunities for "good deals" on home purchasesAbility to purchase properties that may not meet FHA standards and complete the repairs/improvements AFTER the home is purchased.Select from a larger selection of properties for sale (in any condition), including condos, townhouses, mixed-us, multi-family, single-family dwellings and those that do not currently meet FHA standardsWhen offer is presented properly to seller, 203k offers may be advantageous in a competing offer situation as the seller does not have to fix-up or repair the property but instead allow the buyer to include these items into their 203k mortgage and complete the improvements after closing using the buyer's own style and design.203k Benefits to Home Owners & Sellers (not all inclusive)Market property to more buyersAllow buyers the opportunity to renovate, upgrade or improve to suit their tastes and preferencesNo need to settle for low-ball cash offersCurrent condition of property not required to meet FHA's property standardsBuyer is permitted to correct any property deficiencies after close of escrowNo more inspection concernsAbsolutely no repairs are required prior to close of escrowSeller not responsible for cost of repairs/improvementsTransaction will close with property in "AS-IS conditionClosing occurs in 45 days203k Benefits to Realtors® & Lenders (not all inclusive)Increase income by selling more homes and originating more loansRaise real estate values by improving homes and neighborhoodsDecrease foreclosure inventoryHelp buyers who previously could not buy homesHelp seller/owners with properties in outdated or fix-up conditionSpur economic growth by creating job opportunities for the construction/remodeling industryPromote an under-utilized niche program that not many Realtors® or Lenders understandRevitalize your community203k Disadvantages (not all inclusive) upfont MIPMI for life of loanSupplemental origination feeInspection feesTitle update feesmore complexmore moving partshigher interest ratepossible longer closing timeBut working with the right 203k Lender, a contractor with education/experience with the 203k, such as a Certified 203k Contractor, the benefits can definitely outweigh the disadvantages.

I’m going to upgrade the gel hybrid as it is showing divots or wear after just a year.

How do the finishes and upgrades compare?