[quote=briansd1]I don’t think that cosmetic improvement such as a kitchen remodel “deserve” to be recouped. Adding square footage or adding a new bath, yes. But, after a decade, a cosmetic remodel is worthless anyway, IMO.
I laugh when I seen ads for stuff on CL that say: paid x and selling for y.[/quote]
I totally agree, which is why I view cosmetic upgrades in the same line of buying a luxury car. It will depreciate and one day become irrelevant and need to be discarded. Those $100k fully loaded M5 will be out dated in 10 years and they can barely fetch a fraction of that. Same can be said with cosmetic upgrades. Appliances break down and become out dated. So it doesn’t matter if they paid $20k-30k, it will depreciate. If anything, it’ll depreciate much faster than your run of the mill appliances, just like those $100k cars depreciate much faster than your $10k-$15k econobox.
I agree with sq-ft and bath statement, although they also have their diminishing return as well. Adding a bathroom to a 4/3 or 5/3 house won’t have the same ROI as adding it to a 3/1 or 2/1 house. Same with sq-ft, adding a 1000 sq-ft to a 1000 sq-ft house yield a higher ROI than a 1000 sq-ft to a 2000 sq-ft house, especially if the new 3000 sq-ft house is much larger than anything in the area.
I laugh at those CL posts too. Who cares how much you paid for it, it’s how much those things are worth today.
