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I'm hoping some of you really clever Trianglelites (that I enjoy reading on this forum) might be able to guide me as to which home improvement project would be the smartest project to do at this time. Consider that this may be the only project we're able to do for quite a long while. OK, here goes...
Decent-sized house (3600 sq.ft) built in mid-80's on acre. Kitchen needs updating -- new countertops (granite/marble); new sink & faucet; paint; want to create larger island/eating area using granite; possibly install gas cooktop (get rid of electric unit) & install exhaust hood. OR
Finish 850 sq. ft. attic and (ideally) add a 3/4 bath.
The huge problem is the cost of adding that bath exceeds our budget by at least $8-$10K. Don't have it. So, do we finish the attic now, increase our square footage with some fabulous play/entertainment space and add the bath when...ever...$$$$???
The kitchen is operable. It looks good. Cabinets are great. Appliances new and shiney. Could just slap on a coat of paint (after I finish tearing down the hideous wallpaper) and screw in new cabinet hardware and we can fake it for a few years...but it will need new countertops...soonish.
We don't plan on moving tomorrow -- we just moved in a few months ago so this home improvement thing is really just for us (but resale is always kind of hovering there, no?)
Hey, it's all good. This is not earth-shattering stuff but I thought perhaps I could pick some brains out there...Hope you all had a great Thanksgiving Day feast with your favorite people around you. Thank you, Trianglelites...it's always a pleasure.
A "finishable" attic is still valuable when it comes to resale. It may not be as valuable as finished space, but upper story square footage is less valuable than first floor square footage anyway. With a larger home like yours, extra SF isn't going to help much with resale. Don't add on unless YOU need it. If you have 3-4 bedrooms and at least 2.5 baths, you're fine.
A good kitchen, on the other hand is extremely important. Even more important is that you get to enjoy it now. Your idea of starting with small things is a good one. Paint is cheap and taking down wallpaper and painting is terrific, assuming the wallpaper can be removed easily. If it has been applied without any treatment of the sheetrock, you may have trouble with it. If so, there are solutions, including applying a thin layer of sheetrock over it. New hardware is great. Another relatively inexpensive change is new light fixtures, and maybe a new sink and faucet. (Please donate any of your old fixtures to Habitat for Humanity) If your cabinets are in good shape, try cleaning them thoroughly and then touching up any dings and waxing them, if they have a wood finish.
Granite can be very expensive, but a lot of home improvement stores are hurting for business right now. Try shopping and then bargaining.
Good luck and have fun!
I will play devils advocate
If you spend 15k on your kitchen, the appraised value does not increase much(they will add a few grand for granite tops)
If you spend the money to finish your attic, the appraised value will go up substantially more for your dollar, you probably get most of your money back.
The points about the kitchen are definitely valid, and a nice kitchen always helps sell a house. My thoughts were merely about the money side of it....and well, I would personally add a nice theater room or recording studio with all that unfinished space lol.
Kitchen....if push comes to shove and you need to sell in a bind the kitchen is your most important selling point. The other kicker is why finish an attic for that extra space if you are NOT going to have the 3/4 bath. Finish the kitchen, save for the next few years and with that extra equity built since the market is going to rebound soon then you can do the attic and like everyone else said 3600 sq ft could be overkill in your neighborhood. Never be the biggest house on the block.
I had the same question when it came time to put my house on the market in Philadelphia; do I finish the attic and increase the house by 800 sq ft or do i update the kitchen with new cabinets, countertops, and appliances. I spoke to many people, realtors, contractors, and friends, and the primary feedback was kitchen.
Kitchens have become a focal point for a house. I know this because when I was shopping down here, I wanted a kitchen that was not standard and made me feel like I would enjoy cooking all day and not think twice about it.
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Go with what YOU will enjoy!
then you can do the attic and like everyone else said 3600 sq ft could be overkill in your neighborhood. Never be the biggest house on the block.
