10 Renovations Turning Your Home into a Money Pit

By InvestingAnswers Staff
July 13, 2011

The Wall Street Journal reported that homeowners can expect to pay four times the purchase price in repairs, renovations and remodels over 30 years of ownership.

Many of the luxury items coveted by homeowners end up costing them even more in the long run. Aside from the actual cost of these special amenities, there are legacy costs to consider, such as upkeep and repairs.

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So whether you're gearing up to buy a house or are just remodeling, taking a few minutes to calculate the lifelong costs of some of these amenities could end up saving you from costly maintenance down the road.