Highest closing in Cal City for for a Rehab in the last six month is 200K. Slightly higher for new construction. There is a large range of values, so I would caution you to get an agent involved if you're unsure about the market conditions in your area.
I agree with the previous comments. Your home is just that. You should make it the place you want to live and not be overly concerned about value. If having to sell in the near future is a possibility, then you need to take a look at the cost and effort involved in remodeling and weigh that against how long you will enjoy the home. If your doing this for investment purposes, get an expert agent involved to help you understand the local market conditions. Zillow is neat, but shouldn't be used to guide investors or those making financial decisions with their real estate.... more