Profile picture for petville

If a house has an app. value based on comps, does it help to raise price by updating bathrooms?

I've updated most of my house by redoing the basement entirely, including a beautiful new bathroom, the main kitchen, the stoop, the facade, the landscaping, the backyard, etc.  I only have the 2 upstairs bathrooms to redo, but I don't know if it makes financial sense to redo them to increase the price of the house if I were to sell it.  I feel that if I redo them (I do most of the work myself and save money), prospective buyers will have no ifs and/or buts.  The whole house will be redone.

  • December 17 2008 - Oakland Gardens
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Answers (5)

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Profile picture for kevingreen
Updating bathrooms is a wise move if it is financially feasible. You want the Buyer to have that "Wow" factor when they walk thru the home. The thing to keep in mind is that just because an uprade costs 10,000 doesn't mean that the home sale will be 10,000 more with it.
  • December 17 2008
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Who are you doing these upgrades for? The answer is yourself and your own sense of living in a nice place. Since taste varies, your upgrades may mean nothihg to a buyer. In my experience, all buyers expect to see a nice, modern upgraded property when they are looking to purchase. Most buyers want to do as little as possible to a property unless they have to.

Upgrading the Bath is a great idea. The Kitchen and Bath are the two critical ares to upgrade and this may only bring a property into regular market value. Comps and most importantly, the appraisal will determine final value. Upgrades do add value but don't look to any more than maybe 40% of the upgrade cost adding to value.
  • April 26 2010
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Profile picture for lucho975
In todays market, pricing is key.  If you are willing to update the bathrooms and not tag on to the price its definitely worth it.  If you are expecting to get the money back, it wont happen
  • April 12 2009
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In this market price and condition is what matters. You have to keep in mind, buyers have many properties to choose from. You have to price it competively and have the best condition. In other words, you must be "IN" the market. Having it "ON" the market won't cut it.
  • February 17 2009
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Profile picture for lucho975

You can do it but you wont get your money back.  In this market, its all about price.

  • February 01 2009
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