Go Kitchens
How much will a remodel help my homes value.?
My home is in Menasha WI. When I bought it 2 months ago It was appraised at $125,000. I recently did a complete remodel of the downstairs bathroom as well as the kitchen. The old bathroom was very old and nasty and had a cinder block shower. Now it has a nice, large, tile, two person shower and a large two mirror vanity. The kitchen had a linoleum floor and the design was poorly layed out. I opened it up with a nicer design, all new Appliances, a island, and a tile floor. Basically a top to bottom remodel of both the bathroom and kitchen. Does any appraiser on here or someone who really knows what they are doing give me an vague idea of what I will have gained from doing this? P.S. all the labor was done by me and most of the cabinets and fixtures were bought through my work, so I was able to get our "cost" on them. I have roughly $5,000 into the bathroom and $6,500 into the kitchen. Thanks!
Public Comments
- Ryan, I spent the better part of my life selling Real Estate and I could answer you unless I knew your neighborhood. Contact a local agent or two just to get an opinion of the value of your home. Someone will be glad to do so even if you are not planning to sell.....Skipper
- since home prices are FALLING still, put not one more dime into your home; you will not see it increasing your home's value for 1-3 yrs. sorry
- GOOD NEWS: You did choose the right rooms to remodel. Most people think just because they throw paint on the walls, its going to bring value. Remodels of Kitchen and Baths add big value to a home. BAD NEWS: Again depending on your state, values of homes are crashing due to this real estate crisis so even though you did put money into your home, you may want to wait till this crisis is over or dies down before you sell it because you still may not get as much value from it as before. THE REALITY: Get a real appraisal to find out for sure. If you plan to sell anytime soon, most appraisals cost between 100-400 dollars so it would be a good investment just to know for sure. Nobody can really tell you just from a posting on yahoo answers.
