Real Estate Agents/Appraiser Advice?

[pbharris4]

We'll be refinancing in about 2 years and I was wondering if we should remodel our kitchen and maybe master bathroom? Would we see a substanstial return on that investment? Our house will be 7 yrs old this November. It's the DC Metro area (50 miles south..still consider part of the Metro area though). My kitchen is huge, but we have oak cabinets and laminate countertops, and vinyl floors. I was thinking of upgrading to Silestone, Maple cabinets with a cherry finish, maybe change the appliances, and do a little more decorative thing on the cabinets and ceramic tile floor.

Was also wondering if we should change the carpeting? Anyone have any advice? We've never remodeled..just bought new homes. TIA

 

[The Mystery Machine]

Upgrading helps with the selling price for sure, esp. for a kitchen!

Don't know about a "substantial return" but if you on the market and do not have an ungraded kitchen you will get passed by from buyers if it is "expected".

What is expected for your area? That is important.

For example someone coming to look at my house will expect Tile/Hardwood/Granite....
If we had vinyl flooring and laminate counters we would be laughed at from a selling perspective.

 

[pbharris4]

Upgrading helps with the selling price for sure, esp. for a kitchen!

Don't know about a "substantial return" but if you on the market and do not have an ungraded kitchen you will get passed by from buyers if it is "expected".

What is expected for your area? That is important.

For example someone coming to look at my house will expect Tile/Hardwood/Granite....
If we had vinyl flooring and laminate counters we would be laughed at from a selling perspective.

I shouldn't have used the word "substantial." I guess what I meant was could it be a $ for $ return or more. IMO, I think it could or could not be expected so it could go either way. Our house appraised for $550,000 3 years ago after we fininshed the basement and put on a 24' screened porch. I don't think we'd be laughed at for what we already have, but if our house was in the $750,000 range we would be. We have 1.5 acres (which is like an estate around here ) A lot of people have been selling their homes here and buying homes down there in the Dallas or Houston Metro area with cash almost. The thought actually crossed our minds too. We had our home built in 2000 for $218,500 so you see everyones appreciation. I'd have to visit the area first. DH would be overjoyed..he's a lifelong Cowboy fan stuck in the 'burbs of the Wash. Redskins! Thanks for your opinion! Let me know if you have more!

Have a good night.

 

[The Mystery Machine]

I shouldn't have used the word "substantial." I guess what I meant was could it be a $ for $ return or more. IMO, I think it could or could not be expected so it could go either way. .

When are you planning on moving? If you are moving soon, then pass on the upgrades. Not worth the aggravation and the market is fickle right now.

If you are not moving anytime soon then do it. You will enjoy a nice kitchen and esp. pay attention to detail with appliances.
The ultimate is Wolf/SubZero of course. That will stand out as a "wow" factor.

Can you tell I want a Wolf stove? Lord...I will have a 6 burner stove one day. oops sorry....daydreaming.

Will you get it back? Well it is a crapshoot afterall.
I expect when the market picks up again in full force...after the dang election and WAR....we will see a rise in housing again.

Sometimes there is no rhyme or reason.