Do kitchen renovations really pay back?

[Anonymous]

We are debating this. We plan to be in our home for 10 years or so. We considered a minimal renovation, just changing dated appliances and leaving the so-so cabinets in place.
In the end, it will not look special, but it will look more up to date.
I have seen big renovations of kitchens in homes that we toured (many) and I have yet to see one where I say, "wow, that kitchen is perfect!".
There is always something that is off wrt taste or quality. As a matter of fact, I preferred the homes that have not been messed with so that the seller does not expect much.
Opinions please.

[Anonymous]

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.

[Anonymous]

Usually it depends on what. Going from laminate or corian to stone will, viking appliances no etc...

[Anonymous]

Apparently people want improvements on things like siding so spend your money on what makes your house seem maintained, not fancy.

[Anonymous]

What do you mean by 'pay back'?

On average most home improvements do not return in sale what you spent - but that's 'on average'

[Anonymous]

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

[Anonymous]

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?

[Anonymous]

It depends on how much you spend. If you spend a small percentage of the homes worth, say $30K on a 750K home, you will probably get that back. If you spend $150K on the same home, no. That does not mean that you can get much done in the kitchen for 30K however...and that is the problem.

[Anonymous]

How dated are the appliances? If it would make some improvement in your day to day life, I would go ahead and switch them out at some point while you're there. Dated but sturdy cabinets are one thing, but walking into a move knowing you're likely to have to replace a kitchen appliance right away is another. We did--but we bought an as-is estate sale, and the price of the house reflected that sort of work that would need to be done.

Just knowing that the basics work and will work for awhile should add some value to your home.

[Anonymous]

I think it depends on how dated your kitchen is. My house was built in the early 1940s, the kitchen had a slight update sometime in the 1970s that included a horribly built bump out, and appliances were upgraded to mid-level quality in the 1980's or 1990's. It was time to tear everything out and start over. There was nothing "period" or charming about the old kitchen. If we sold tomorrow, would we get dollar for dollar back? I think we would. But more importantly, we don't have to love with the horrid kitchen for the next ten years.

[Anonymous]

Anonymous wrote:I think it depends on how dated your kitchen is. My house was built in the early 1940s, the kitchen had a slight update sometime in the 1970s that included a horribly built bump out, and appliances were upgraded to mid-level quality in the 1980's or 1990's. It was time to tear everything out and start over. There was nothing "period" or charming about the old kitchen. If we sold tomorrow, would we get dollar for dollar back? I think we would. But more importantly, we don't have to love with the horrid kitchen for the next ten years.

Ha! Do you have our house? We had an identical situation. In fact, the kitchen was so bad we almost passed on the house entirely because I wasn't sure I could live with it in the period leading up to the remodel. We spent somewhere around $30-$35K and the difference is like night and day. I'm not sure we'll get it all back but I do know the house would have been extremely difficult to sell as it was originally.

[Anonymous]

OP here, the reason I asked this question is that cabinet and appliance quality are one thing, but taste is another. Usually, the builders choose the most neutral materials and colors, after that, it is each homeowners (quirky) taste and they somehow expect the next buyer to like it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think it depends on how dated your kitchen is. My house was built in the early 1940s, the kitchen had a slight update sometime in the 1970s that included a horribly built bump out, and appliances were upgraded to mid-level quality in the 1980's or 1990's. It was time to tear everything out and start over. There was nothing "period" or charming about the old kitchen. If we sold tomorrow, would we get dollar for dollar back? I think we would. But more importantly, we don't have to love with the horrid kitchen for the next ten years.

Ha! Do you have our house? We had an identical situation. In fact, the kitchen was so bad we almost passed on the house entirely because I wasn't sure I could live with it in the period leading up to the remodel. We spent somewhere around $30-$35K and the difference is like night and day. I'm not sure we'll get it all back but I do know the house would have been extremely difficult to sell as it was originally.

Same here! We bought a house where the kitchen that while big enough for us, is on the small side, and the space was NOT utilized effectively at all. It's just not functional for us, so we're planning the remodel now. Planning to put $20-25k into it, and even if we don't recoup all the costs, it's ok, because we're doing the remodel for us first, resale value second. We did get the house for less than comparable homes in the area that have been updated though, so I think the updates will help.

[Anonymous]

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.

[Anonymous]

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.