New Kitchen or Bath on the Brain? Find out if it’s Worth it

by Rudden|Bobruska Team 06/23/2019

First things first, if you are just in love with modern bathroom or kitchen features, they are worth it for you. It's always worth it to create a space that you love. Now, if you want that new kitchen or bathroom to add value to your property, increase its marketability or its future resale value, its time for the research because not all upgrades are made equal and there may be a better way to spend that renovation money.

Upgrades that Add Value

The most straightforward way to increase the value of your home is to add usable square footage. That means more living space to use. You can add this space by finishing out a basement or attic, and by adding another bedroom or bathroom to the home. Extra space goes a long way to increase your properties market value. As many buyers consider homes by bedroom and bathroom count, adding just one more can change the category in which your home resides. A three-bedroom, three-bathroom house sounds larger and sells for more than that same home when it was just three-bedroom, two-bathroom house.

You can also increase your home's value with small upgrades. You can get the best bang for your buck with—you'll never guess—a new front door. Nearly 100% of the cost of the door adds to your home's value. Now, that won't work with just any front door, talk to your contractor or real estate agent about the best style for your property. You need a door that will enhance your entryway and not look like an afterthought to get that instant dash of curb appeal. 

You can also get substantial value from minor repair upgrades such as new windows or replacing discolored vinyl siding. These minor upgrades work like a new paint job and can increase the value of the home and the curb appeal at a much lower cost than a full kitchen or bath remodel.

Still, want that kitchen upgrade? Minor kitchen upgrades can have high returns of their own. You don't have to completely gut the entire thing; just new cabinet doors and fixtures make a huge difference. You can finalize it with classy new appliances and get yourself an 80% return on your new kitchen investment.

Upgrades That Aren’t Worth It

Pay attention to the cost of your remodel compared to the overall value of your home. Spending 50% or more of your equity on your kitchen remodel just isn't going to work well. A $100,000 remodel on a $250,000 property won't add nearly that in additional value to your home. So, if you want to sell your property for $350,000 instead, this isn't the plan for you. Nothing says you can't get plenty of enjoyment out of the kitchen upgrade, just don't plan on selling it for as much as you paid and focus on getting the kitchen you really want.

Similarly, while a pool sounds like a fabulous investment, they are usually much more expensive than they are worth and only really increase home value in specific locations, mostly those without colder winter weather. If your area has even a bit of winter, the pool will take a lot of extra care and can actually decrease the interest in your property.

Talk to your real estate professional about the best upgrades to increase your property’s value in the current market.

About the Author
Author

Rudden|Bobruska Team

Gary Rudden, Lisa Rudden, and Nick Bobruska  

RUDDEN BOBRUSKA TEAM

What sets your team apart from other real estate teams?

There is no team out in the market that offers what we do. All of us are Realtors, but

we each have specialized roles, which make our team so unique!

After decades of living and selling real estate in the DMV, we have established

ourselves as one of the top real estate teams with our market expertise and

cutting-edge technology. Our savvy high-tech marketing is on every website

and social media source. We have a huge network with other top agents, which

helps to premarket homes and discover homes for buyers before they reach the

open market. Our services include professional in-house staging services, broker

expertise in negotiating and navigating contracts, and buyer representation in all

price ranges. Each client has different needs and we create a marketing plan based

on those needs.

Our most distinct feature is our in-house construction and renovation team. We

are literally a full-service, one-stop shop when selling or buying a home!

How does the in-house construction and renovation team work?

All work is managed and completed through our licensed and bonded construction

crew. No need to call outside contractors. We are like “HGTV,” but we just don’t

have a show! Whether it’s a small makeover or a major renovation, we do it all. Our

sellers love this aspect of our team because we make preparing your home for the

market so seamless. Our buyers love the advice and insight we can give for future

renovations and repairs.

Having a licensed Maryland Home Improvement contractor as part of our team

along with the knowledge, experience, commitment and services that we offer, truly

puts our team as a vanguard in the real estate industry.