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Message
How to calculate if a home improvement is worth it for a house you may sell soon ?
Posted on 7/10/18 at 2:53 pm
Posted on 7/10/18 at 2:53 pm
We NEED some new flooring in some areas of our home ... We WANT new flooring in 100% of the home ... We don't think we will be in this home in 1-2 years... Home is probably middle of the road in neighborhood value ... We got a quote to do beautiful wood tile throughout 100% of the home with full demo of existing, all floors leveled, new 5" baseboards installed throughout, with all materials will come to around $25k (3000sqft)....
The alternative could be to just get more laminate in the areas that NEED flooring and I'm sure that would be $5k or less...
How can I better figure out how much of that 25k I'd see in the sale price of the home ? TIA
The alternative could be to just get more laminate in the areas that NEED flooring and I'm sure that would be $5k or less...
How can I better figure out how much of that 25k I'd see in the sale price of the home ? TIA
This post was edited on 7/10/18 at 2:54 pm
Posted on 7/10/18 at 3:04 pm to Zilla
quote:If you are referring to wood look ceramic tile, you run the very real risk of this style being a short lived fad and getting little to no recoupment of your investment.
beautiful wood tile
ETA: just based on the info supplied, I would do good looking but cheap flooring only in the areas it is really needed.
This post was edited on 7/10/18 at 3:06 pm
Posted on 7/10/18 at 3:26 pm to Zilla
If you're not going to be in the house for 5+ more years, only do what needs to be done.
Posted on 7/10/18 at 3:34 pm to Zilla
Finishes are very subjective. You would be better off doing what is "needed" and let the next homeowner make color/style selections. can always give a flooring allowance as part of sale.
$25k is a big investment....
$25k is a big investment....
Posted on 7/10/18 at 3:41 pm to tigeraddict
Agree all the way. What you think is nice and appropriate, the next homeowner may hate with a passion. Do cheap but good enough flooring in the key areas needing replacement. Don't over renovate, you won't get it back in the sale.
Posted on 7/10/18 at 4:10 pm to Zilla
To me, it sounds like this improvement would do more to get you offers but not necessarily better offers. Not gonna add 25k value IMO adding new flooring but it would definitely help it sell quicker.
If I was you I'd do what was needed if you are only there for another year. If you were adding sq footage or bedrooms/bathrooms, there may be some value to add but finishes are something that won't get you property value added as a great investment.
If I was you I'd do what was needed if you are only there for another year. If you were adding sq footage or bedrooms/bathrooms, there may be some value to add but finishes are something that won't get you property value added as a great investment.
Posted on 7/10/18 at 7:00 pm to hungryone
quote:
Agree all the way. What you think is nice and appropriate, the next homeowner may hate with a passion.
I don't know anything about home improvement investment, but I've been saying this for years when it comes to my house.
I've watched enough of the shows on HGTV to figure this much out
Posted on 7/10/18 at 7:05 pm to The Spleen
quote:
If you're not going to be in the house for 5+ more years, only do what needs to be done.
This, this, this.
You'll do much better selling something basic and presentable than something "really nice" you paid hugely for. Let the next owner decide if he wants to renovate to a style he likes.
This post was edited on 7/10/18 at 7:06 pm
Posted on 7/11/18 at 6:18 am to PearlJam
quote:
if you are referring to wood look ceramic tile, you run the very real risk of this style being a short lived fad and getting little to no recoupment of your investment.
I thought this 10 years ago and realize it still may happen , but have to admit, we are specifically looking for homes with it at this time. Looks good and we have a dog. So eliminates real wood scratching issues.
Posted on 7/11/18 at 10:35 am to Zilla
quote:
$25k
Nope. Nobody will spend 25k more on a house because they like the floors. Save those kind of home improvements for your forever home.
Posted on 7/11/18 at 11:44 am to Zilla
Could you match the new laminate with existing flooring? Mismatched laminate floors, especially if house is open concept, may be used against you and you may be better off doing nothing.
What would estimate be if they just replace shoe molding vs redoing basebaords?
What do most comps in your area have throughout as flooring?
What would estimate be if they just replace shoe molding vs redoing basebaords?
What do most comps in your area have throughout as flooring?
Posted on 7/11/18 at 12:05 pm to ItNeverRains
quote:
Could you match the new laminate with existing flooring? Mismatched laminate floors, especially if house is open concept, may be used against you and you may be better off doing nothing.
not to mention laminate floor wears terrible. And honestly the OP must be doing a lot of flooring for the laminate to be $5k.
Posted on 7/11/18 at 1:05 pm to Zilla
I mean it really depends on the comps in the neighborhood. How much will your house sell for as is and what is a similar house selling for that is redone? Nothing else really matters in this discussion.
Generally I wouldn't expect $25k in floors to be recouped in the selling price but if you are in a really hot neighborhood and newly redone homes are going for 1.5-2.0x than by all means invest away.
Generally I wouldn't expect $25k in floors to be recouped in the selling price but if you are in a really hot neighborhood and newly redone homes are going for 1.5-2.0x than by all means invest away.
Posted on 7/11/18 at 1:57 pm to oreeg
quote:
Nope. Nobody will spend 25k more on a house because they like the floors. Save those kind of home improvements for your forever home.
I hear you ... My thinking here is that with these floors and the nice new molding it will sort of finish off the house and match the niceness of the rest of the home and make the whole home very desirable ...so sort of more than just "flooring" ...it's the one thing that is holding back the house from being very nice.
Posted on 7/11/18 at 1:59 pm to ItNeverRains
quote:
Could you match the new laminate with existing flooring?
probably not ...the alternative would be doing 75% of the home with new laminate ... there is old carpet, damaged laminate, and missing carpet (cat pee, had to cut out)
quote:
What would estimate be if they just replace shoe molding vs redoing basebaords?
I live in kind a snobby area, isn't that considered trashy?
quote:
What do most comps in your area have throughout as flooring?
probably a mix of everything.. all the flooded homes are getting the wood tile ... the newer nicer homes all have real wood ....
Posted on 7/11/18 at 2:00 pm to brian_wilson
quote:
not to mention laminate floor wears terrible. And honestly the OP must be doing a lot of flooring for the laminate to be $5k.
that was just a guess, it'd be about 2000 sqft to go the laminate route...
Posted on 7/11/18 at 2:20 pm to hiltacular
quote:
I mean it really depends on the comps in the neighborhood. How much will your house sell for as is and what is a similar house selling for that is redone? Nothing else really matters in this discussion.
Generally I wouldn't expect $25k in floors to be recouped in the selling price but if you are in a really hot neighborhood and newly redone homes are going for 1.5-2.0x than by all means invest away.
my best guess is i'd be able to get 10-20k more with nice flooring
Posted on 7/11/18 at 3:05 pm to Zilla
quote:
that was just a guess, it'd be about 2000 sqft to go the laminate route...
that is a lot of laminate. Vinyl isn't that much more and wears much better, plus it looks better.
Posted on 7/11/18 at 4:01 pm to Zilla
quote:
What would estimate be if they just replace shoe molding vs redoing basebaords?
I live in kind a snobby area, isn't that considered trashy?
We haven't used under 7 1/4 for baseboards in last 5 years, so can't be that bad considering vendor suggested 5" .
Maybe split the difference and use a nice 1/2" prefinished engineered hardwood? On 2000ft2 that should be well south of 25k even if you upgrade baseboards We are building two right now in a new development on slabs (we've always built on crawl) and using engineered hardwoods and they look nice. Only potential issue is matching the stair treads but our painters say its non issue.
Posted on 7/14/18 at 2:12 pm to ItNeverRains
I always thought tile and engineered hardwoods would run about the same no ?
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