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Does it make sense to renovate our kitchen if we need to sell, say when the RE market improves in some years? Right now, the place has not been touched for let’s say, 50 years. There are no cabinets or countertops (only shelves), walls are a patchworked mess, appliances are worth only as junk, no proper outlets, ceiling was taken down to the beams, electrical is ancient, floors are old plastic tile, plumbing lines are exposed, etc.
I am making plans to renovate, thinking that in the current state, this kitchen (and adjoining bath, laundry, dining area) would bring down the value of the house, just because it makes the house a fixer-upper (the other floors are in much better shape). It’s going to cost an arm and a leg (150K maybe). Is it wise to go to this expense or better to save and sell as is down the road?