Are we kidding? Not at all. We sold our house for roughly $5,000 more than we paid back in 2006 during the housing bubble, even though we invested far more than that in upgrades. In total we estimate about $35,000 went into new bathrooms, a new kitchen, new flooring, replacement windows, a new roof, a paved driveway, a cobblestone patio, and finishing touches like crown molding and wider doorways. Not the return you’d expect on paper, but there’s more to the story than just the numbers.
Why are we so relieved and excited about selling and buying in this market? Because the timing and outcome feel right for our family. Here’s how we approached it:
- Our new monthly mortgage payment is about $200 less than the payment on our old, smaller house. That became possible thanks to historically low interest rates and a great deal on the new property. We’re getting more space in a better neighborhood for less each month—exactly the kind of move most families dream about.
- Similar, unimproved homes in our former neighborhood are selling for $30K to $50K less than what we received. The upgrades we made didn’t just make the house comfortable for us; they helped stabilize and even slightly increase its value in a softer market.
- We received an offer within days of listing on MLS, which is a huge advantage in today’s housing landscape where many sellers wait months without interest.
We aren’t house flippers; we’re homeowners who love renovating. We never intended to renovate purely for profit. Every update was made to enjoy the home while we lived there. That practical enjoyment turned out to have financial benefits as well: our renovations prevented the house from sinking into a price bracket that would have been hard to accept. Those changes also gave us lasting memories—a backyard wedding paid for by redirecting venue costs into a new patio and driveway, for example—and the kitchen remodel led to a blog and business that support our current lifestyle and allow us to work from home with our kids nearby.
As buyers in this market, we also found real advantages. We purchased a larger home in a nicer neighborhood for over $40,000 less than its valuation five years ago. Low interest rates mean substantial savings in interest over the life of the loan, and rolling equity from our former house into the new purchase helped reduce our monthly payment even further. Those factors combined made this move financially sound as well as personally rewarding.
We weighed the possibility that if the market eventually recovers, waiting to sell might have fetched a higher price for our old house. But by that time the new house we wanted could easily be out of reach—just like it would have been five years ago during the peak market. For our family, the practical benefits matter most: the new house supports our DIY interests, gives the kids more room to grow, and fuels our business. Those everyday advantages are priceless when it comes to peace of mind.
Let’s revisit the math: $35K invested, and we recouped about $5K of that in the sale. On paper that looks like a loss, but that perspective ignores the alternative. Comparable homes without upgrades are selling for dramatically less. One larger ranch-style house just a few doors down sold this summer for $50K less than our sale price. Our improvements kept the property from depreciating in a tough market and even produced slight appreciation relative to what we paid many years ago. Thinking about it this way helps put the financials into perspective and eases any buyer’s remorse.
Another point our lender emphasized is speed-to-sale as a form of return on investment. Buyers may not always be willing to pay significantly more for features like granite countertops, but they do notice quality upgrades and often make offers much faster than they would on a similar, unrenovated home. Our experience confirmed that: we received an offer after just two days on MLS, while a nearby, larger house listed for $30K less has lingered on the market for months.
Do we wish the market were stronger? Of course. But we have no regrets. We chose a path that balanced financial sense with quality of life. We moved into a larger, better house in a desirable neighborhood, secured a lower monthly payment, and preserved the benefits of the upgrades we made. Most importantly, we’ll be in our new home in time for Clara’s first Christmas, which is exactly what matters to our family. Now, back to unpacking those boxes.