Can I actually increase the value of my home by....?

Question

upgrading kitchen and bathrooms. Will my home sell for more than the going price in my neighborhood or my home if I make these improvements?

Answer 1

My daughter and her husband just went through this and made the decision to leave the 35 year old baths and kitchen.....good decision.... You make changes when you MOVE into the house and then enjoy them for several years, not when you are leaving.
As a retired realtor, i always told my client to only make small changes such as recaulking in the baths, maybe even use that technique that costs about 300.00 to change the color of the tile , etc. As it turned out, the people who bought my daughter's house were looking for a home to remodel...then you wouldn't have had that buyer. I always buy a home that I can justify remodeling just like I want it. Good luck

Answer 2

Yes, usually it does increase the value. But the amount that it increases will vary. Usually if you own a home that is 25 years old or more, that has an older looking kitchen or bathroom, then by giving it a modern appearance, with new, high-quality fixtures will add value on paper, but even more psychological value when people are walking through it when you are selling. Visually, your home will appear nicer and more appealing than others in the same neighborhood or price range.

Answer 3

Absolutely!!

Those are 2 very very important rooms and the condition and appearance can sell a home. Don't stop there, though. Go for the best deal you can!!

Make sure the outside is very attractive and well cared for,gardens and paths included.
Clean the inside, walls and ceilings and floors.. everywhere, including the garage and basement.
When you go to sell. take away all personal things such as souveniers, fotos, toys; clean away all the trinkets, remove all the extra shoes and coats and anything that looks like your house isnt big enough. DO NOT put these things in a closet or garage, remove them from the property.( people see more than you think)

CLEAN, FRESH and BASIC is very tastefull.
Look in a few magazines AND.. make sure you have a very very clean fresh smell in the house and even a fresh baked applepie smell in the kitchen. Not kidding!

Answer 4

With no offense, and a lot of experience, ANY upgrading might "help sell", and add something to a resale "Price" but you might consider "costs" of upgrades versus "what you expect them to add to a selling price."

EXAMPLE: Assume that you install ALL new, major appliances, at a cost of $2500. You install new cabinets and counter tops to the tune of $5000 maybe? You remodel bathrooms at a cost of $3000 each perhaps.Would you think to add just that amount to the asking price? OR would you inflate that?

Depending on the location, age, neighborhood, and ranges of prices in your area, UPgrades certainly might be "expected" or even "taken for granted" by prospective buyers, but could inflate the asking price to a point of "OUTpricing" for current market trends.

I think most people looking for a house, and certainly the largest single investment one might ever make, would be more inclined toward buying, if there was NEW anything. I happen to look for "Fixers" simply because I "can do" and for budget reasons as well.

If what you have now is decent, on any level, and you do this just to sell; do upgrades to a point of considering minimal, or diminishing return. The "APPEAL" factor might increase ten fold, but the "recovery" might surprise you, negatively?

If it's a thought that upgrading will sell the house, and you're EAGER to move on, then you might consider the investment just for what it is; offering the house in a more attractive way, just to move it. I have to assume as a buyer you'd enjoy the same regard for you.

Remember this however. No matter the "Palace" you offer up. Location does matter. You might live in a neighborhood, or be surrounded by neighborhoods, not very attractive or appealing. To re invent your house, might not mean much to prospectives who look at the "Bigger Picture"

As I said above, consider your homes current condition, and if in your calculating you decide, or are advised legitimately, of the cost to upgrade versus the return, YOU might consider PAINT as the most inexpensive way to make a house appear newer, or fresher at least.

Steven Wolf
(The Rev.)

Answer 5

Yes, upgrades are most definitely good! However, don't do too much with it (like hardwoods all through the house or granite counter tops) if you're planning on selling. Sometimes you end up putting more money into the house than you can ever get out of it. Check local listings of how much the houses in your neighborhood sell for and try not to go too much above that. Good luck!

Answer 6

The only thing you need to sell your house is a willing buyer! All the other is just guess work. Have two different friends come over and be honest about how your house looks to them. Tell them you are trying to sell it and ask what they would change. Sometimes making improvements will sell your house faster, but, not for more money. A cheaper way to put the odds in your favor, is to paint and repair and clear out the clutter.

Answer 7

It depends on the neighborhood, of course. But in general these home improvements will increase the value of your home.

However, these improvements cost money, and you will almost never get a 100% (or more) return in the selling price of your home.

For example, let's say you spend $20,000 to improve your kitchen and bathrooms...you may only add $13,500 to the value of your home.

Answer 8

Y E S.. Upgrading either and/or the kitchen and bathroom will increase trhe selling price of your home.. I did it twice.. it worked and it should have work because it is a big expense to do so and well worth it.

Answer 9

Probably not, but of course if it's outdated it will help, because it's not so much what the inside looks like but what the actual MV is in your neighborhood and are the homes alike in appearance on the outside. You could spend more than you would get back in the long run.

Answer 10

upgrade? ... that is more $ than you may be getting back.

You can try placing large mirrors in the bathroom - that gives the illusion of more space.

Put a bright light in a super clean kitchen and that makes food preparation seem easier. Have some freshly baked cookies or bread smells in teh kitchen, too