We enjoy our condo but we’re realizing that there are some changes we’d like to make.

I think it would be lots easier to make these changes than to move again. But maybe it’s not cost-effective to upgrade our place. We know we need to weigh the pros and cons.

We need to decide if this is our “permanent” Florida home, or do we want to buy something else. If we spend money on our current condo, it’s doubtful that we’ll ever get any financial return on our expenditure. Improvements should be an investment in our own enjoyment. All the condos which are styled the same are worth about the same when it comes time to sell. If a unit has extensive renovation, it’ll still sell for the same price as the unit where nothing has been done. Maybe improvements would give us a slight sales advantage over other similar units if we ever want to sell, but it’s not wise to do it with the thought that we’d “make money” if we sell the condo. It doesn’t work that way down here.

Maybe we should look for a different unit and sell this one without spending more on it. But this unit has several pros that make it more desirable to us: (1) the view is fantastic and we haven’t seen many better; (2) any unit would have some shortcomings we may end up with a new “needed improvements” list; (3) this unit is very conveniently located; (4) our current unit has a very large, open living area which is unrivaled; (5) it’s unlikely that we could sell this condo now without taking a hit price-wise; (6) there is nothing available that we really like better; (7) our lot gives us not just a “view” but also space around our condo – others almost bump into each other; (8) we would hate going through another move and it does cost to move.

If we decide to stay put, what we put into the unit should have nothing to do with what we could get out of it. We would be doing it for us, not for a monetary pay-back.