I'm contemplating whether to renovate my main bathroom and backyard/patio, but I'm a bit torn. I live in a builder-grade house from the 2000s, and the bathroom is pretty outdated. It has a cramped layout with a small shower; I'd like to upgrade it to include a new bathtub and even a steam shower component. As for the backyard, our small deck isn't functional for gatherings, and I envision replacing it with a new patio. However, both renovations could cost me around $25,000 to $30,000. We're also planning to move to Phoenix, AZ in a couple of years, where housing is pricier. Should I go for these renovations, or would it be better to save that money for a future down payment?
2 Answers
While the bathroom and patio improvements could enhance your home's value, they probably won't recoup the costs fully, especially if you're hiring professionals. Real estate can be quirkily unpredictable, so consider that carefully!
You might be able to recoup some value with an updated bathroom, especially if you keep it simple and don’t move the plumbing. The patio? That could be a cool DIY project if you're up for some hard work and light landscaping!