Updated over 6 years ago on . Most recent reply
Remodeling return on investment
Hello everyone!
My husband and I bought a live and flip house (foreclosed) about 2 years ago. We are looking for our next real estate adventure now and considering selling our house within the next 6-12 months. We fixed the major things (mold, replaced carpets and flooring, painted everything, fixed the sunroom etc.) We did a little extra too, adding recessed lighting in the living room, painted the kitchen cabinets, added a 30’x30’ deck, landscaping work (still needs a little more this spring but we plan to do it).
We bought it for $160,000. Houses in our neighborhood are close to $300,000. Our agent said we could comfortably expect $250,000 for it.
My question is how crazy should we go with the remodel over the next couple months? Should we renovate the master bathroom (it’s nice but the vanity is low and it’s a single vanity with ample room to do a double shower head shower and double vanity- our contractor quotes $9,000)? Should we do a kitchen overhaul and replace the sink, cabinets, countertops? We had it re-tiled with subway backsplash and we painted the cabinets white, the sink is white and large with a garbage disposal, the island was also painted and all the appliances are high-end stainless steel.
Thank you for all of your feedback, we look forward to hearing from you!