Profile picture for Cindy4101

How much will a high end (90K) kitchen remodel add to a home value?

House appraised at 495K in 9/08 -- have completed a $90K kitchen remodel and 10K in improvements to upstairs bedrooms/office.
  • April 22 2010 - North Reading
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Answers (10)

If it was for a similar home in So Cal you would recoup around 25K in the marketplace, and an appraier would give it a value of 10K-20K on a typical appraisal.
  • May 17 2010
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90k kitchen remodel is steep for a 500k home.  typically you would see a 40-60k remodel and you would recoup about 70-80% of that on a resale.
  • May 16 2010
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It really depends on area sales. a 90k kitchen for a home in the 400s seems high.The problem is no one wants to be the most expensive house on the street
  • May 03 2010
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Every January Realtor Magazine has a cost vs. value report for remodeling. Different areas see different returns.  For 2009/10 the average returns for kitchens are:  

National Average: 72.1% for major kitchens ($60,000 job cost)  & 78.3 for minor kitchens ($22,000 job cost)
Regional Averages vary: 
Mid-Atlantic (NY, NJ & PA) - major kitchen ($70,000) saw 66.5% return
minor kitchen ($22,000) saw 72.2% return.

Here's a link to the data or you can copy/paste into your browser:
http://www.remodeling.hw.net/2009/costvsvalue/national.aspx 

Really good information - hope this helps.



  • April 23 2010
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Profile picture for shapiroamg
If you know a local Realtor who is familiar with your home, I would suggest calling and asking them if they could give you a value range. With that information you can then call a lender/broker/bank and see what they could do. Keeping an existing Home Eauity Line open when refinancing the first can be a issue sometimes. Generally the first and home euqity should be no more than 80% of the home value. If you have no balance on the home equity, it might work better to close it and get a new one. A lot of this will depend on who the home equity line is with and how long it might take them to subordinate the home equity line. Some banks and CU's are not subordinating at all, and some are only subordinating if you work with the same bank/cu for the first mortgage. So get an idea on value first, then call a lender/broker/bank or two to see what they reccomend.
  • April 23 2010
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Profile picture for Cindy4101
looking to refinance the first but I really want to keep the second (equity line) in place. Value MUST come in at $540.  First is a 7/1 ARM ending in 2012 and I want to start another ARM.
  • April 23 2010
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Profile picture for tlynch26
It really depends on the house and the location.  Before putting money into renovating, a home-owner needs to take into consideration the values of other homes in the neighborhood.  It is possible to "over-improve" a property.

A $90,000 kitchen sounds expensive for a house valued around $495,000.  You will generally see these kitchens in million dollar homes.
  • April 22 2010
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Profile picture for wetdawgs
If done well, 25% to 100% of the costs.   Most likely about 50%.
  • April 22 2010
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Without knowing the specifics it could be anwhere from $40K to $120K improvement. Alot will depend on the general condition of the house, the comparable properties used and what other like properties have for features.

For example if the kitchen in your house was 50 years old and the rest similarly not updated then the improvement would be much less because it's considered a needed updating. Whereas if the home is in normal to updated standards and you spent 90K on a well designed & layed out kitchen improving over older designs then the return would be much higher even exceeding the $90K investment. Conversely if the kitchen design you chose is so over the top or so specifically designed to your tastes & desires then the return could once again be lower because of lack of universal appeal.

An appraiser is the only one who can give you certifiable values for your improvement but you could contact a few local real estate professionals to do a market analysis for you (just make sure to tell them the real reason you're asking for the market analysis) then take an average of their results. I mention to tell them you're not looking to sell because some might get upset thinking they might get a listing although most Realtors I know would be happy to provide a complimentary market analysis as a good will gesture.

Ask friends, family, colleagues for the name of a local real estate professional they've used recently in your town that has extensive knowledge of your area so they can give you the most accurate analysis for you to compare.

Hope that helps,
  • April 22 2010
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Profile picture for shapiroamg

Hard to say. Kitchen and baths will get you good money relative to what you spent. I think the market was the absolute lowest in 08 so you should have a higher value. what are you looking to do refi or sell?

  • April 22 2010
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