Gene brought up an interesting point about my previous post. He basically says that if I plan on doing improvements in the future, why not just do them all now so that I have more time to enjoy them, regardless of the current economy.
I understand that logic. But, I never thought values in my area would ever go this low. Every day that they continue to go down, I ask myself "when will this bottom out?" My fear is that if I did the improvements now, even if I stay in the house another five years, I won't be able to recoup all I have invested in it. I don't expect to recoup 100% of any improvement, but I do have a tolerance level. So to make sure I don't waste any more money on a sinking investment, I figure it is best to wait until the market at least begins to show some signs of life.
It might be a different story if I'd planned to be in this house for 10 or more years. That was never my intention, but that may now be the reality, unfortunately.
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