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That's a good return - you should be getting $2 or $3 back in value for every $1 spent on a reno. However, that $20K "profit" you just made, if you sell (as in a buy-reno-sell scenario) will be erroded away to almost nothing by: REA commissions legals holding costs during the selling /...

Hi Cartoon, This was discussed extensively here: http://www.somersoft.com/forums/showthread.php?t=41527 You'll get opinions from both the Yes & No camps.