Roxy,

Great Questions! Several factors weigh in, are you paying at or above market value for the home? How much money do you have set asied to invest in the property? What length of time do you plan to stay in the home?
I have an architect who could lay out cost and compare with you. I drive and look at home's in Preston Hollow weekly. I would be happy to confer with you about your decision. It takes a few factors to help you come to your decision and advise accordingly.

Nicole Arenas

I have remodeled a home in Preston Hollow and it will be going on the market in the next month. I think 4 bedrooms is very important for resale. Adequate closet space and bathroom space are also important. I would suggest continuing your search. If the remodel doesn't work with the floorplan, there are other great homes in this price range and less that you could make work well.

There are many options in the Preston Hollow area. If you are wanting to spend 750K+, then I would suggest finding a property that at least structurally has everything you are searching for. Also, it is possible to negotiate specific changes you want into the purchase. Depending on your needs, we can negotiate items and have seller complete repairs prior to closing or possibly escrow funds to be disbursed at closing.

If you would like more information, please contact our office and one of our agents would be have to discuss the different options you can pursue. We can also set up a search in the Preston Hollow area and find you some other comparable homes to consider as well.

DFW Urban Realty
info@dfwurbanrealty.com
(214) 764-4124
http://www.dfwurbanrealty.com/buying.php

There are more questions that need to be answered prior to making any comments. How long do you intend to live in the property, is it inconvenient based on your lifestyle, how much are the quotes, what are the other remodeling projects.... these are just some examples of many other questions that need to be answered. Prior to remodeling you also need to know the 5 - 7 year trend for how homes will maintain there value looks, products, design, and etc. Who is the remodeling group Many people think remodeling a house is easy when in fact can be difficult I rehab properties on property 200 times a month see many many poorly done homes. Preston Hollow does maintain its value

sure. go ahead and update it any way that pleases you. odds are that the house will become dirt value any way. make it livable for you but best in mind the next value of the home may strictly dirt. it may sell again before it beomes a teardown bit it may not. how long do you think you will stay there?

You are probably right at the breaking point. At $225-$250/sqft I would expect the updates to have been done. Either that or back out your rennovations from the sales price. Perhaps easier said than done. Based on the size of the house I'd probably loose the 4th bedroom, but I think it depends on the design and what you can make work with regards to office space, etc. Potentially you could add a cabana with full bath and perhaps kitchenette to make up later if needed. Tough call on this one.

Tough question....That's the trick right there. At $225/sqft to $250/sqft I would expect the updates to be done already, or back them out of the sales price if you can. I'd probably loose the bedroom at this point, but that's a very tough call. At 3600sqft is there some other part of the house that could be an office/4th bedroom. Also if the lot is decent size you could perhaps add a cabana with full bedroom/bath/kitchenette. I think at that price though it is a 50/50 shot, just depending on the house.

In my personal opinion, I dont think you would be running much risk to go ahead with your plan, now if you were taking a three bedroom and cutting it down to a two, that is a different story. But in my experience with Preston Hollow, I dont think what your going to do will affect the resale negatively. What you will want to do is calculate how much you are willing to spend in renovations in relation to what you will or will not get back when you decide someday to sell.