Home Improvements: Worth the Cost?

Kim · **Home Improvements: Worth the Cost?**

We are considering doing a major renovation in our upstairs bathroom and our kitchen. We have a HUGE bathroom upstairs and we can divide it into two batrhooms; one for the kids and one for us. It's a major project with a major bill - but should increase the value of our home as well. Our kitchen project is smaller, but it would involve installing a granite countertop and adding a tile backsplash. I'm sure we won't recoup the entire amount, but it will be nice not to have to share bathrooms anymore.

Has anyone had to make a decision like that - invest a big chunk and hope it pays off, at least somewhat? Were you glad you did?

BlueJay · 12-21-2007, 09:50 AM

We have- We redid both our bathrooms and did a complete kitchen remodel. I think it is/was worth it. Especially for you if you can make 2 bathrooms. This is what people want.
"they" say kitchen and bath remodels are were you DO get your $ back. Plus if you also get some enjoyment out of it before you do decide to move than again it is worth it.
Good luck

sam321 · **same boat**

I'm also trying to fix my house up. We're a family of six. we have three small bedrooms and I have 3 dd and 1 son. MY oldest is 13 she wants her own room right now she's sharing a room with her 8 year old sister and my 12 year old dd is sharing a room with her brother [2].Our basement is really big but unfinished. I really want to fix it up and make another bedroom and sitting room But we don't have the extra money to do it. So I really want to know how you make out!

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momof2boys · 12-21-2007, 10:02 AM

kim, I can only dream of having a big enough bathroom to make 2

However we did do a major overall to our small bathroom, we kept the tub because its cast iron and in good shape but we took the walls down to the studs along with the floor and all new pipes what a project but so worth it in the end.

Our major remodel we would love to do in leiu of moving would be to add a family room on the back of our house, we currenty have a decent size deck and a little more yard to play with. One of these days we are going to get an estimate but I know its going to be very expensive and if we should decide to sell we may never recoup but I still think it would be worthwhile as our boys get older. We love the area were in just need a little more space

calimari · 12-21-2007, 10:15 AM

Yes, it's worth it - especially kitchens and baths. First off, if you are planning to sell in the near future, updates will only help so long as you don't go too high for the neighborhood. And, if you don't plan to sell, then it is worth it because you get to enjoy the improvements you made and it makes the house more livable for you, AND still increases it's value.

mommytosa · 12-21-2007, 10:16 AM

Kim,

I'm sure you would be doing this very frugally and I think it would pay off in the future. As a matter of fact, we plan a remodel of our master bath and some minor touches to the kitchen. We have a pallet of tile on our back porch waiting to do the bathroom and the tile the hall bath also!! If you do most of the work yourself, you should get to enjoy the new spaces and get your money back when you are ready to sell. Just adding the 2nd bath will probably boost your home's value above what you put into it!

Good Luck and have fun!

ember15 · **Get your Bang for your Buck**

Ok it is worth it IF you are making wise choices. We have spend a huge amount on home improvements 11k

Its knowing when to DIY and when to hire a pro
Its making wise choices choosing things that will make your home able to sale easier
Its not putting luxury items in that you won't get the money out of
Its about shopping around and finding the best price

We Spent 6K on our kitchen we shopped around and went with in stock cabinets from an outlet. Details made a huge influence in our choice for example arches on our upper cabinet doors brought the price up by $1000. We are in a starter home there is absolutly no reason to have gone with anything other then laminate counters

We spent 2k on electrical because we knew the right people.

The rest on other things but some times things work out like pulling up the carpet to replace it and finding hard wood floors

We had the house reapraised to get rid of PMI but the results were clear in june of 04 we bought 136K and in Feb of 07 it appraised of 186K so 50K in less then 3 years and we now have 27% equity on a home the we didn't have a DP for and in my area prices are still going up.

brensmom · 12-21-2007, 11:49 AM

i would say definately worth it if it adds another bath and upgrades your kitchen those are big things people look for when buying a home.. also classic styles will go along way in case you do decide to sell down the line.

Kim · 12-21-2007, 01:16 PM

Thanks for the great advice, everyone. It makes me feel better for signing the contract and giving the go-ahead. Unfortunately we're not DIY-ers at all, so we can't try and save money that way. But it does sound like the kitchen and bath are definitely the best areas to focus on when doing renovations. At the very least, we will enjoy them tremendously!

Spoodler · 12-22-2007, 09:03 AM

We are currently remodeling one of our bathrooms. I have done the research and currently, on average, you will get approx. 85% of your money back on a kitchen or bath remodel. In some areas of the country, you can actually get more than 100% back on a master bath.

Those are the two rooms people want to see updated when they buy.