We previously answered this question after selling our first house (spoiler: we bought near the market peak and sold during a downturn). Now we’re doing the same recap for our most recent sale — and things lined up a bit more in our favor this time. We sold in a stronger market and didn’t have to sink as much money into major systems like a new roof or replacement windows.
We sold this house for $23,000 more than our 2010 purchase price. Our best estimate is that we invested roughly $14,500 in improvements that remained with the house (furniture and decor that moved with us are excluded). That leaves a net gain of about $8,500. Below is an estimated breakdown of where that investment went:
- Kitchen renovation (appliances, new flooring, backsplash, lighting, countertops, opening a wall, etc.): $6,955
- Deck construction, staining and sealing: $1,783
- New patio: $1,252
- Custom built-in desk in the office (conveys with the house): $124
- Laundry appliances and built-in shelving: $712
- Hall bathroom update: $168
- Guest bathroom update: $51
- Crown molding added throughout the house: $218
- Fireplace update with new tile and mantel: $147
- Board & batten in hallway: $57
- Pergola over the carport: $214
- Porch column update: $198
- Window boxes and plants: $132
- Paint and stain for every room, built-in, and outdoor area (does not include paint/stain for furniture we took with us): $800
- Landscaping, light fixtures, curtains and miscellaneous items that convey (including new border tile and toilet in the main bath): $1,700
- Total: $14,511*
*Some line items reflect total project costs and include small things that didn’t convey, such as art or accessories. This is an estimate rather than a precise accounting.
Even if the math isn’t perfect, we’re grateful we were able to add significant value in just a few years — especially after our experience with the first house, which barely gained any resale value. At closing we paid a 3% fee to cover the buyer’s agent commission; had we used a listing agent we would have owed roughly double that, so we’re glad we kept those costs lower.
Realistically, we probably broke about even on this house once all costs are considered. We’re not flipping houses for profit, but we are house lovers — and the part that excites us most is rolling the equity we accumulated across our first two homes into our new purchase. That equity dramatically reduced our new mortgage balance — nearly cutting it in half — which made the wait and effort worthwhile.
Have you ever totaled what you spent on improvements and compared that to what you recouped at sale? Common wisdom says kitchens, bathrooms, and increased outdoor living space (decks, patios) tend to boost resale value. Does that match your experience? One category we don’t hear discussed as often is built-ins, but we think they add real value — both functionally and aesthetically. In this house the custom built-in desk in the office, the built-ins we inherited in the dining room, and the laundry room built-ins all felt like meaningful upgrades that stayed with the home.
We’ll definitely include built-ins in the new house because we’re already missing that built-in storage here. They create a sense of custom functionality and, in our case, were inexpensive — the two built-ins we added cost less than $125 each — so they’re an efficient way to add useful features that can appeal to future buyers.