I live in a suburban area with decent schools, and while it's not the fanciest neighborhood, it's good enough. Most homes here are rentals and pretty basic, but I see some folks updating their kitchens and bathrooms. We're thinking about staying in our house long-term because the mortgage is super low, which gives us a lot of extra cash for renovations. The master bathroom is a big issue since it has a tiny shower and only one sink, plus we'd like to do some cosmetic updates throughout the house. We're estimating around $50-60k for everything (redoing both bathrooms, new flooring, and updating the kitchen). My main concern is how to evaluate the amount we should spend without making our house the priciest one on the block. Any advice?
3 Answers
Honestly, if long-term means 7-10 more years for you, just update your home in a way that brings you joy! Don't overthink the resale value too much if you're planning to stay for a while. Make it feel like your own space!
From my experience, if you're planning to stay in your home long-term, renovating the master bathroom is definitely a worthwhile investment. I completely remodeled my master bath in a '60s home, and it’s made a huge difference. Just keep in mind that any updates you do might feel outdated in a decade anyway, but you should prioritize what makes you happy for now.
Absolutely! Stuff like color schemes and trendy fixtures can change, but as long as you don't do something drastic, like ripping out a bathroom just to add a closet, you should be good with making your space feel like home!
I say go for it if you plan to stick around. Focus on updating to your personal standards and budget, and don’t stress too much about resell value right away. You can also check out recent sales in your area to gauge how various updates have been valued.
That's a great point! I’m definitely leaning towards making it mine rather than just looking for a return.