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first time home buyer still looking for the right home. i have seen about 30 condos now and realize that there is no perfect home to meet my wish list. (i.e…house is affordable but has a huge boiler in the entry closet or house is on the high end of my budget but has every single detail i could ever ask for).
what would you say are the top 3 qualities important in terms of keeping the resell value of a home competitive?

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My friend wants to purchase a foreclosed home in GA and then try to resell. I know the real estate market is bad right now, but are there monetary penalties to purchasing a home and trying to resell right away?

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Home Renovation Project – Best bang for the bung?

I have a question to see what the general consenus is for the best bang for the buck on a couple projects. The project costs are estimates and I know there are other variables which can effect which project to do, but like to know what the best guess is. All projects are of equal value to me. Home is located in Milwaukee, WI suburb. Most homeowners in the subdivision are young couples or families with children in early teens.

Subdivision specs (median)
Sale Price = $290K
Year Built = 1996
Square Footage = 2,100
Lot Size = .33 acre
Baths = 2.5
Garage = 2

My Home Specs
Appraised = $300K
Year Built = 1995
Square Footage = 2,000
Lot Size = .33 acre
Baths = 2
Garage = 2

Project 1 = Construct 3rd Car Garage / Cost = $10,000
- Currently no shed in yard
- Roof modifcations are needed
- Garage would be within 4-5ft of lot line
- There is space to park in driveway
- Space in current garage is very limited (riding mower and/or two stage snowthrower would not fit)

Project 2 = Add half bath on 1st level / Cost = $15,000
- Push out closet / exterior wall (there is room under overhang of porch so no roof modifications needed)
- Add basic 0.5 bath on 1st level
- Eat in kitchen is off main entry so a new closet (for shoes and coats) can be contructed within the room (no aethtic issues, just take up ~12 sq.ft in a 200 sq. ft kitchen and is directly around the corner from the main entry).
- Now that there is a 0.5 bath on the lower level we can wall off the dual entry master and add a second vanity (currently used as the master bath and 1st level bath),

Project 3 = Rec Room / Cost = $15,000
- Cynder block construction
- Basic design with average materials
- Drop ceiling
- About 500 sq. ft of space
- Will have 0.5 bath
- The square footage and bath technically can’t be adverstised as living space without a egress window, even with that it is still denoted as “below” grade

Considering the given details curious why one might think one is better than the other. Right now I’m thinking the rec room would be the best bang for the buck as far as usability BUT for resale I think the added 0.5 bath on the 1st level is best. I just don’t know how people would react to putting their shoes and coats in a closet in a kitchen (even though it would be directly around the corner from the main entry.

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