Age old question should you remodel you're kitchen and/or baths when you think you will sell your house in the next five years or less?
Time and time again the best return on remodelling investment has proven to be kitchens and baths. You can not expect to get all your money back but probably anywhere between 75-85%.
Then given that knowledge how should you upgrade your kitchen and bath? Does one take precedent over the other if you only have so much to spend? If so which one?
Okay, If you have $30,000-$50,000. Do the kitchen first. It's the heart of most homes. It's where everyone hangs out when there is a party. If you only have $10,000 - $15,000 do the baths. You probably can't get alot done in a kitchen for that amount. By all means get whatever project you chosee to do finshed first. It's really hard to sell your home with a bunch of half finshed projects.
Depending on the style of your home the type of remodel you do should be one that stands the test of time.
Think back to the 1960's, pink and grey were the king and queen of decorating colors. In the 70's it was avocado green, harvest gold and chocolate. How do they stand the test of time? Not so good.The same thing will happen to granite countertops and stainless steel appliances. Take the long view of your remodelling projects as long as you enjoy the look.
from Yahoo & me too
7 months ago
Suzanne, I agree with this, but think you left out one important point. While true that %100 return on a renovation may not be realistic, one should factor the saleability of that redo (if done well) into their equation. Many buyers won't want the hassle of renovating - so you could miss out on potential buyers.
ReplyDeleteTotally agree with your comment. Thanks for pointing that out.
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