For one, you may not recoup anywhere near that much money. Sell the house as is at a fair price and let the new owners do what they want. People have such different tastes in kitchens, what you put in may not be a particular buyer's style and they are not going to want to rip out a brand new kitchen, so they move on and you have lost a possible sale. Of course the real estate agent will highly recommend you redo the kitchen as the higher the price the more their commission.

How terrible is it now?

donyou really need to blow out the wall? Can you live 3 years with the wall there?

On the other hand, in some areas, busy working families will only consider a move-in ready house. They don't have the time, desire or money to take on a gut renovation.

So a bad kitchen will make it harder to sell your house and bring out the bottom feeders.

Can you post a photo of your kitchen? Maybe small changes that cost much less can work for you too.

May I ask if the wall is interior or exterior? If interior, will you lose a room?

The question's are:

Is your kitchen on a par with, or far below standards of those in your immediate neighborhood?

If you spent 70k and only got thirty k of that "back" in a re sale, is the enjoyment factor worth the other 35 k?

If there are other things in your home, such as baths, that are worn , dated, inconvenient.......would a new kitchen make up for those as well? Probably not. In other words, is your street a hot bed of improving and renovating ? Are you the odd man out, or is your home fairly consistent with the others nearby?

Nobody can answer the questions but you. Renovation is work and stress. One could consider that to simply price a home in a way that considers its flaws, can make it move quickly. Everything but everything, sells at the RIGHT price. Yes. It does.

People buy location, school systems, # of bedrooms and baths.............even before kitchens. And more than a few would prefer to make their own decisions regarding reno's and improvements.

If I knew I was moving in 3 years, I'm not sure I would even take the time to paint!

I mean unless it's a disaster now.

I say it doesn't hurt to get ideas here and then decide. I have seen many people plan to move in X time and then that time doubles or even more. Life happens. Enjoy the space you have and if you want to fix up or renovate so you can enjoy your space, then do so. It is a good idea to keep the resale value in mind - but don't let it cripple you. Recapture of improvement cost varies from market to market. And it varies by how much you spend on the improvement. Those national studies are averages - and simply may not apply to your market. I know that in my market those averages are totally off base, but I'm in SE Florida not Minneapolis. A good Realtor can tell you what a new kitchen gets (today) in your neighborhood. Of course, we don't know what will happen in 3 years.

Go to open houses in your area ( or ones similar to yours ) and see what the homes look like and what they are asking. That way you will have a basic idea of what you may need to do.... It is a lot of money to put out if you can't recoup a good amount. Go ahead and have a real estate agent come to your home and do a walk through with you - get their opinions and then decide....

Just be sure if you do go ahead with the remodel, that you don't overdo! Not so specific to your tastes and not going crazy with high end appliances or specialty inserts in the cabinets etc...

Good luck!

If you plan to sell in 3 years don't do it. If there are minor things that need changing or fixing do that. It's impossible to predict what imaginary potential buyers will like, it seems like everyone that moves into our neighborhood remodels the kitchen regardless of its age. One neighbor totally remodeled a kitchen that had been totally remodeled two years previously! Personally, I would prefer to pay less & remodel according to my taste...

We had to sell our first home in 2007 right as the market collapsed due to an anticipated job move. I had a lot to do to get it ready and it cost me. It pained me greatly to fix it up but in that market at the time, I had to.

Now here is my question that the OP might find useful as well as myself: if three years of living in a home is not enough to recoup a major renovation, then how many years would be adequate?

We are in a situation in which it could be a little as three or up to eight years to until retirement. We have had elderly family members receive inadequate care when it was needed the most because they had no money. Experiencing that is now keeping us in limbo and spurring a deep reevaluation of priorities . I realize there is no magic number here but since there is a relative general consensus that three years is not enough to recoup a big investment, is there a time frame that you all would say is better?

Do not renovate the kitchen. When you go to sell tell your Realtor to up the price $20k above what the Realtor thinks it should sell. Then have your Realtor tell prospective buyers the house is listed $50k lower then if a new kitchen was put in....and they can use that money for the kitchen of their "dreams"....

wacokid - that strategy doesn't work any longer because the comparable sales are public record unless you are in a location that doesn't publish the sales. Lying to the listing agent and lying to the buyers is no way to conduct business IMO.

I agree with K Laurence. There is a huge chance buyers will change what you update.

Again, if you want a new kitchen and the $$$ is not a big issue do it for yourself. However, do not expect to recoup much of the $$$ spent. If blowing the wall out and redoing the Kitchen (expect 2 to 4 mos. construction) is not truly a priority, fix the things that bother you the most, let the next buyer do what they want and get a house with a kitchen you love next time.

lots of variables at work here. housing rates at the time you sell is the biggest. to put 70k into something you will only enjoy for 3 years, in my books is not worth it. keep the 70k and update the new house!

I'm amazed that so many people have such strong opinions on so little information! For example, if the kitchen is sort of a wreck (and the rest is great), then fixing it up could totally be worth it, even without your enjoyment factored in -- you might lift up the impression of the whole house to a new buyer. If it's basically functional or nice and you just wish it were cosmetically different or more trendy, then you're extremely unlikely to be adding much value, so I'd only do it if you can afford the investment in your short-term enjoyment. All of that also depends, of course, on the market in your particular region and neighborhood, on a pretty fine-grained scale...

A good rule of thumb is spend no more than 10-15% of home value on a kitchen from a ROI standpoint.

A major renovation may give you a 65% return. A minor renovation may give you 75-80% return.

Every market is different but on average if you spend $60 K you may recoup only $40 K. Applying that $20 K as down payment on next home can save thousands in interest over life of mortgage.

Personally, if I'm not going to spend the $60 K to improve for myself (with expectation of enjoying it for at least 10 years), I almost certainly am not going to spend it for someone else to enjoy.

Consult a realtor and get neighborhood comps.

We remodeled our eight year old builder-grade kitchen. Now, nine years later, our stained maple cabinets with travertine backsplash is dated. We will probable move in three years and we'll probably lose the buyers who want the trendy white kitchen but can't justify putting in another new kitchen before we sell. I agree that you should look at comps in your area before you invest $60k in a home you'll be selling.

@mobuddy89..... there is no magic number of years that will recoup your investment...it is really a strategy for those who are going to indulge on some things in the kitchen and spend more than they should .... obviously the longer you would be there enjoying those extras is the "recoup" of your investment.

From a financial point of view, there are a million variables.. how much would a realtor list your home at as it is right now vs having a completely renovated kitchen, vs partially renovated kitchen.... will it make a difference in whether it will sell faster or not ( sometimes you have to factor in carrying costs if you move prior to the house selling ).

In my area, young couples just starting a family do not want to do any sort of renovations - especially not major ones - would that be the customer base that is purchasing your home?

I would suggest looking into these things now and see what a realtor says, then decide what your next step would be....

Good luck!

Debbi Washburn, I would love for the young couples in your area to talk to my children and their friends in my area. Watching HGTV is making them insane. All of them seem to be planning major renovations of perfectly fine kitchens that are just not to their taste. Plus, they have inaccurate views of their DIY skills. My daughter has maybe used a palm sander a handful of times. Direct quote from daughter, "Don't worry I am basically a pro at this stuff." Ugh!

OP, unless your kitchen is atrocious, the rest of the house is stunning, and all of the comps are fully renovated, I would save my money and just price the house well.

I suppose if Lowes, Home Depot, and Wayfair are your biggest ad buyers, you need content to keep them happy.

Change! Change! Change!

No I do think the Houzz also put somewhere unrealistic expectations on having a showplace home, rather than an every day living with a family home

can you share a photo of your kitchen ?