Do kitchen renovations really pay back?

[Anonymous]

If you spend under a certain amount you will get your money back. Look around for contractors that aren't trying to make more than 10% profit, most are trying to make 100-150%

[Anonymous]

Anonymous wrote:

Anonymous wrote:my kitchen has 90 year old wood floors (yes, original to the house), windows are very old, counters/cabinets are c. 1980 formica, as is the seafoam green wall color. The back pantry is 1920s too and is not at all charming. We are planning a major remodel that includes moving walls, etc, so we'ere looking at 80k minimum. I think we'll get 75 to 80 percent back, since muchof what we are doing is improving the flow and size of the kitchen. We'renot putting high end cabinets, appliances, etc, in, but mid range.

If you're spending 80k minimum for a mid range kitchen you are being FLEECED! Crazy. To put it in context, I'm spending only slightly more than that for a 500 sq foot two-story addition.

This person said they are doing mid-range cabinets and appliances, but are doing a major remodel that includes moving walls. This is not a "mid range kitchen". It could still be very involved, with architectural plans, load-bearing walls, etc.

[Anonymous]

We did a gorgeous high-end kitchen renovation on the last house we sold. It involved opening up the space, lots of reconfiguring, moving walls, etc. It definitely paid for itself. In house hunting, we started to tire of looking at houses with no kitchen renovations because it meant nothing in the house had been renovated. No bathrooms, etc. We didn't even look because we don't have that kind of energy.

OTOH houses with updates (and higher prices) were a huge turnoff because some of the updates, WTF? I would have to rip them out anyway.

So, our update was perfect, neutral and universally appealing, and everyone else's is horrible

[Anonymous]

PP- was being sarcastic of course. But wanted to add, if you are making other updates in your house, you like your kitchen and can live with it, you get some new appliances for you, you're good. If you do the major reno, make sure it's because you need the reconfiguring and it's something with better flow that really makes it worth it, as someone else said.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:my kitchen has 90 year old wood floors (yes, original to the house), windows are very old, counters/cabinets are c. 1980 formica, as is the seafoam green wall color. The back pantry is 1920s too and is not at all charming. We are planning a major remodel that includes moving walls, etc, so we'ere looking at 80k minimum. I think we'll get 75 to 80 percent back, since muchof what we are doing is improving the flow and size of the kitchen. We'renot putting high end cabinets, appliances, etc, in, but mid range.

If you're spending 80k minimum for a mid range kitchen you are being FLEECED! Crazy. To put it in context, I'm spending only slightly more than that for a 500 sq foot two-story addition.

This person said they are doing mid-range cabinets and appliances, but are doing a major remodel that includes moving walls. This is not a "mid range kitchen". It could still be very involved, with architectural plans, load-bearing walls, etc.

+1, PP is right if you are changing an existing layout you will likely need new electrical, plumbing, hvac, all that to be dealt with, and then the new kitchen stuff on top of that. Also you will have to budget lodging unless you are planning on living through it. Additions are actually not as complex...

[Anonymous]

Anonymous wrote:

Anonymous wrote:http://www.remodeling.hw.net/2013/costvsvalue/division/south-atlantic.aspx

if this is the case - no remodel recoups its value - then what is the business model for the flipper?

Flippers are generally contractors using their own subs -- they aren't spending what a random homeowner is spending to get things done.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:my kitchen has 90 year old wood floors (yes, original to the house), windows are very old, counters/cabinets are c. 1980 formica, as is the seafoam green wall color. The back pantry is 1920s too and is not at all charming. We are planning a major remodel that includes moving walls, etc, so we'ere looking at 80k minimum. I think we'll get 75 to 80 percent back, since muchof what we are doing is improving the flow and size of the kitchen. We'renot putting high end cabinets, appliances, etc, in, but mid range.

If you're spending 80k minimum for a mid range kitchen you are being FLEECED! Crazy. To put it in context, I'm spending only slightly more than that for a 500 sq foot two-story addition.

This person said they are doing mid-range cabinets and appliances, but are doing a major remodel that includes moving walls. This is not a "mid range kitchen". It could still be very involved, with architectural plans, load-bearing walls, etc.

Moving walls is extremely unlikely to cost $50k or more.

[Anonymous]

I updated the kitchen in my previous house pretty cheaply, and my house sold quickly for almost the price I wanted. I'd done other updates (bathrooms, paint, floors, closet doors), but I feel like the kitchen being new was a selling point for our buyers.

When I bought my current place, it was a selling point that the cabinets, backsplash and tile floors (and lighting) are to my liking. I can live with the granite and appliances for now, and replace them pretty cheaply down the road. So I think the money the sellers put into their kitchen was probably money well-spent.

[Anonymous]

Anonymous wrote:I am by NO means an expert but was reading an article recently how now, more than ever, people are putting money into renovations that they are not getting back. If you're really renovating so that you're opening up the kitchen and/or changing the flow, then that might add more value.

If you know you're going to live another 10 years there, just do what you'd like to have to make it liveable and somewhat enjoyable, because even if you super-updated it'd probably end up looking dated again by 10 years out.

This. Do it for you, but realize that someone is not going to love your kitchen in ten years when you put it on the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:http://www.remodeling.hw.net/2013/costvsvalue/division/south-atlantic.aspx

if this is the case - no remodel recoups its value - then what is the business model for the flipper?

Flippers are generally contractors using their own subs -- they aren't spending what a random homeowner is spending to get things done.

Why can't homeowners get the same price?