Totally agree—seen my share of fancy marble bathrooms that buyers shrugged off. A few quick tips from experience:
- Kitchens and bathrooms usually pay off best, but keep it practical (think functional upgrades over flashy).
- Don't go overboard for the neighborhood—being the fanciest house on the block rarely pays off.
- Sometimes small cosmetic changes (fresh paint, updated fixtures) boost value more than big-ticket items.
Bottom line: remodel because you want to enjoy it, not just for resale. Otherwise, you might end up disappointed...and broke.
Good points here, though I'd add that sometimes even practical upgrades don't pay off as much as you'd hope. My friend recently updated her kitchen—nothing extravagant, just mid-range cabinets and counters—but the appraisal barely budged. Seems like appraisers care more about overall market trends than specific renos. Definitely agree it's best to remodel for yourself first...otherwise you might end up wondering why you spent so much on those "must-have" subway tiles, haha.
"Definitely agree it's best to remodel for yourself first...otherwise you might end up wondering why you spent so much on those 'must-have' subway tiles, haha."
Haha, exactly. When we refinanced last year, we learned the hard way that appraisers barely glance at specific upgrades unless they're major structural changes. Our new flooring and updated fixtures didn't move the needle much either. Still glad we did it though—makes living here nicer day-to-day. Just keep expectations realistic about equity bumps from cosmetic updates.
Been following along since we're considering a remodel too, but I'm still unsure about tapping into equity for it. I get that cosmetic updates don't boost appraisal much...but does anyone know if things like adding a bathroom or finishing a basement actually make a noticeable difference? Seems like structural changes might be safer bets if you're hoping for equity gains, but maybe I'm missing something here.
You're right to be cautious—I tapped into equity a few years ago to finish our basement, and while it did boost appraisal a bit, it wasn't as dramatic as I'd hoped. From what I've seen, adding functional spaces like bathrooms or extra bedrooms tends to give you better bang for your buck than purely cosmetic stuff. But even then, it's rarely a dollar-for-dollar return...so definitely worth crunching numbers carefully before jumping in. Have you checked comps in your area to see how similar upgrades affected their values?
