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I'm looking into either upgrading my mid-90s kitchen or changing out my siding. Both projects will cost about the same... so I'm wondering which one will offer a better return on my investment? What do home buyers prefer?
The kitchen is a mid-90s kitchen (cheap oak cabinets & laminate countertops). Would upgrade to all new cabinets, appliances and quartz or granite countertops.
The siding is in decent shape but it is hardboard/masonite. I would replace it with hardiplank.
If I choose to remodel the kitchen, I would still attend to the siding - repair a few places on the siding and paint it.
If I choose the siding replacement, I wouldn't do anything to the kitchen, at least not now.
I only plan on living in the home a few more years.
Obviously doing both is costly and I also think I wouldn't see as high of a return by doing both - it might price my home out of the neighborhood...
I really would like to know the average ROI for the triangle area for that type of kitchen remodel... and the average ROI for siding replacement.
Neighborhood standards rule.
If the neighborhood standard is hardboard/masonite, replace just the bad siding to bring the home into well-maintained appearance and repaint.
If everyone is going to fiber-cement, that has become the standard expectation, and probably should be done.
Ditto on kitchens, but kitchens DO offer the WOW that moves homes.
Reality ... as long as it's in good presentable shape, I'd do the kitchen. Unless the siding is really really bad now (which as you say, isn't), new siding isn't going to garner and oohs and aahs like a new kitchen would.
Having bought and sold more than I care to remember, I would prefer the outside done.
I live inside, with most of my time in the kitchen. The only time I see the outside is when I arrive and leave. To me, a kitchen design is where I can design it for the way I'll use it (still keeping re-sale in mind).
I think a lot of buyers will disagree, but I'm one to walk into a home and know exactly which walls I want to remove/add and can see past all the colors, carpeting, popcorn ceilings, etc.
I'm not a RE agent, but again, have been through this process during many moves over the years, I hate a well-done updated kitchen that I didn't design for my purposes; when it is well done, then I don't feel like I can change it due to my "cheapness genes".
Neighborhood standards rule.
If the neighborhood standard is hardboard/masonite, replace just the bad siding to bring the home into well-maintained appearance and repaint.
If everyone is going to fiber-cement, that has become the standard expectation, and probably should be done.
Ditto on kitchens, but kitchens DO offer the WOW that moves homes.
Mike is so smart...it depends on your area. In my market if the home is masonite and most of the the other homes are at least vinyl I'd do the siding. If it's in a n'hood where the other homes are masonite then do the kitchen. Have you looked at the cost of vinyl vs. hardiplank?
As Mike Jaquish stated, a lot of it depends upon your specific neighborhood, and of course, the condition of your siding. While you may believe the siding is in decent condition, a VA or FHA appraiser may see it differently. As an upgrade, kitchens are generally one of the best investments, however, in general you can expect to receive only about 63.2% of your investment back in the first year. However, upgrading to a hardi plank type siding will return about 83.6%. These figures are according to remodeling magazines cost vs. value report for last year for the South Atlantic area.
Totally agree with SunsetBeach. HardiPlank all day long vs. someone else's "idea" of a nice updated kitchen. It's usually the wife who is the decision-maker and if that kitchen is not "her", it won't matter one dime.
Well... if the outside looks rough or the roof is in clear need of replacement, it turns me off a house (we are shopping right now).
If it's just a matter of me not liking the paint, it's no biggie. I would rather paint the outside of a house than have to go in and gut a kitchen that looks about 20 years behind the times.
I'd say that the kitchen IS what most buyers will notice. You may not get the ROI you would with new siding.
I guess the real question is this: which of these upgrades would YOU enjoy most? You have to live there for another few years.
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