“I am interested in selling & repurchasing in next 2 yrs. Need to update kitchen/baths. Go all out or moderate improvements?”
As with almost every question in real estate, the answer begins with, “It Depends.”
What improvements you should make depends on several factors; these are five:
1 – Consider your competition. If your neighbors have formica, consider a higher grade formica or a less-expensive solid surface countertop. (Home Depot seems to have a useful tool for countertops)
2 – Go for quality. Install something that you’ll be happy with if you aren’t able to sell. Cheap doesn’t sell.
3 – If your competition has high-grade stainless appliances, tile everywhere in the bathrooms, bright open designs, go for something similar.
4 – Raise the height of the counters in the bathrooms. It seems that we’ve gotten taller in the past decade. Go through a house built in the 80’s or 90’s and compare the counter heights in new homes. There’s a noticeable difference, and buyers know this.
5 – Your location and competition matter; take these into account when making decisions. Ask a competent professional to help you evaluate your needs and goals.
Be prudent, don’t overspend and be aware of how your house is going to fit within the market.