The first question I would ask you is "how do you intend to use the home?"? What essentially is your strategy, primary residence, rental or combo of the two?
The quality of your materials, fixtures and improvements for your own personal benefit may be different than if you were going keep it as an investment and not live there.
If you're keeping the property as an investment, I would factor in overall area market values as you can over improve a property to the point where you will never recoup your investment.
Second question would be "how long do you intend to hold onto the property?"? Planning to sell within 1-2 years or 15-20?? Certain improvements have lasting value while others depreciate rapidly.
I totally agree with JoEllen that it may be best to consult with an experienced REALTOR.
Advice from someone who views hundreds of properties a year and works with buyers and sellers on a consistent basis can offer you valuable insight into what works and where to best utilize your budget for maximum gain and/or enjoyment!? This has to be within the context of your goals for the property.
Hope this helps!
Eddie
Source: http://www.zillow.com/advice-thread/Home-improvement-experts/461625/
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