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You just purchased a small 1 bedroom Mid-century-modern house in Malibu for $900,000. Great location, but it needs some work to transform it into a luxury home for profit. You have $500,000 to spend, where do you start with the renovations?
- Go all out with the expansion and adding new wings to the house—bigger is better. Think media room, computer room, etc. Cost= $350,000
- Up and out! Tear down the interior walls of dark hallway to expand space, and cut through exterior walls for large picturesque windows. Cost= $175,000
- Remove inside clutter, stowing away knickknacks, mementos and other personal items. Rent a temporary storage space rather than stuffing closets or garage with boxes, which will make them look smaller. Cost= $110/month
