How much will remodel increase the value of my home?
My home is in Menasha WI. When I bought it 2 months ago It was appraised at $125,000. I recently did a complete remodel of the downstairs bathroom as well as the kitchen. The old bathroom was very old and nasty and had a cinder block shower. Now it has a nice, large, tile, two person shower and a large two mirror vanity. The kitchen had a linolium floor and the design was poorly layed out. I opened it up with a nicer design, all new appliences, a island, and a tile floor. Basicly a top to bottom remodel of both the bathroom and kitchen. Does any appriasor on here or someone who really knows what they are doing give me an vauge idea of what I will have gained from doing this?
P.S. all the labor was done by me and most of the cabinets and fixtures were bought through my work, so I was able to get our “cost” on them. I have roughly $5,000 into the bathroom and $6,500 into the kitchen.
Thanks!
At this point it’s really hard to say. Home prices are in the toilet right now. It’s entirely possible that you did all that work and just kept the value the same as it was before. Although that may sound bad, you probably didn’t lose any value. A lot depends on the home sales in the paper valley. I live just south of Madison, and our house values have taken a huge hit. If you plan on staying there for at least a few more years, you should see an appreciable rise in value. If you really want to know it’s current value, have it appraised. If you don’t plan to sell right away, have it appraised a month or two before you list it. Hope this helps.
Bathroom Remodeling NYC