On Dec 12, 2:44�pm, (Steve Pope) wrote:
> Sheldon > wrote:
> > Goomba writes
> >> Steve Pope wrote:
> >>> I have always heard that kitchen remodeling has the lowest
> >>> return of any major upgrade, about $0.50 on the dollar.
> >> That is contrary to everything I've ever read or
> >> seen.http://www.realtor.org/press_room/ne...ostvsvalue2005....
> >Your article says you lose money on a kitchen remodel.
> >"Many homeowners who complete midrange bathroom remodels can expect to
> >make money; the cost on a national average for this project is
> >$10,499, and the return is $10,727, or 102.2 percent, compared with
> >87.5 percent in 2002. On average, major midrange kitchen remodels cost
> >$43,862 and return $39,920, or 91 percent of the costs to remodel."
>
> Right, the article basically says the return on a kitchen remodel
> improved from negative 40% in 2002 to negative 10% in 2005.
> But since 2005 was the middle of the boom, any sort of return
> measured that year is inflated. �The historical number and long-term
> average is probably more like the negative 40% figure.
>
> Steve

Of course, everything in a kitchen depreciates, rapidly. All
appliances are worth about half the day they leave the showroom. The
kitchen sink regardless you paid a grand for fancy schmancy, once used
is worth maybe 10pct what you paid. Flooring, once walked on has the
same value as any kind of flooring.. flooring is real easy to change.
Cabinets are really furniture, no one pays much for used furniture
unless it's a rare antique. No used countertop is worth more than
another used countertop... anyone with a few thou extra can buy new
granite... and a lot of the price is labor, labor ain't too much
different regardless the material.