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StumbleUponQ We plan to stay in our house for three to five years. When it comes to resale value, is it better to upgrade a kitchen or a bath?
A You can’t go wrong upgrading either room. You’ll usually recoup most of the bathroom and kitchen remodeling dollars you spend. In fact, if you do all the work yourself and do a first-class job, you’ll recoup the cost of almost any upgrade. The chart below lists the cost recovery rate by project in 2003; however, these numbers can be optimistic and misleading. Many other factors influence resale value and the value of improvements, including the location, current real estate market, interest rates, the economy and more.A simple strategy I’ve used successfully (with four houses and one hobby farm) is to improve the main areas that look rough or abused, and are less than comfortable for me and my family. For example, if the kitchen is shabby, poorly lit or lacking counter space, make that a priority. Likewise, if a small bathroom has a bulky vanity and a tiny mirror, replace them with a space-saving pedestal sink and a large mirror to add visual space.
Make a priority list, then work your way down it until your home feels comfortable. It may take three to five years or longer, but the results will be gratifying. Your home will look and work better and should be easier to sell with each project completed. Or you just might wind up staying put because you’ve made your home too wonderful to leave.
Percentage of cost recovered—2003 (National average)|
Deck addition |
104 |
|
Siding replacement |
98 |
|
Bathroom addition |
95 |
|
Attic bedroom |
93 |
|
Bathroom remodel |
91 |
|
Window replacement |
86 |
|
Family room addition |
81 |
|
Kitchen remodel |
80 |
|
Basement remodel |
79 |
|
Master suite |
77 |
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