I think most people delude themselves that their big renovations added any incremental value to their home. Usually the cost was financed and thus even higher than the sticker price, all-in. Further, the holding periods are measured in a decade +/- often, so the general market moves contribute more to the sales price than whatever you'd done to the kitchen/bath.
On the margin, having a move-in ready home that's been renovated well enough recently enough, generically enough, ensures reasonable liquidity of being able to sell the home for a reasonable price reasonably quickly.
For many this means replacing some dated appliances, repainting, and strategic spending on a few items that may be out of style or more aged, like bathroom vanity or replacing a linoleum top.
Extravagant, expensive, specific renovations may actually detract because the general markets taste are not your taste and so you've either reduced the number of likely buyers, or half the universe of buyers are going to actually deduct value of your renovation because they may want to undo whatever you've done.
Spending $2k replacing a worn appliance or buying a $200 air fryer are two orders of magnitude off from the expenditure levels I am referring to.
Renovations basically never add value unless you check more checkboxes or add on-paper features. Cramming a shower stall into a half bath, adding a dishwasher where there wasn't one, finishing an attic/basement, that kind of stuff.
>On the margin, having a move-in ready home that's been renovated well enough recently enough, generically enough, ensures reasonable liquidity of being able to sell the home for a reasonable price reasonably quickly.
This is the motivation I have to invest further in what already feels like a generally "move-in ready" home; my "move-in ready" is not others' "move-in ready", so my goal is to find all the objections and invest in making them less objectionable :)
On the margin, having a move-in ready home that's been renovated well enough recently enough, generically enough, ensures reasonable liquidity of being able to sell the home for a reasonable price reasonably quickly.
For many this means replacing some dated appliances, repainting, and strategic spending on a few items that may be out of style or more aged, like bathroom vanity or replacing a linoleum top.
Extravagant, expensive, specific renovations may actually detract because the general markets taste are not your taste and so you've either reduced the number of likely buyers, or half the universe of buyers are going to actually deduct value of your renovation because they may want to undo whatever you've done.
Spending $2k replacing a worn appliance or buying a $200 air fryer are two orders of magnitude off from the expenditure levels I am referring to.