If you’re preparing to sell your home, you may be wondering whether it’s worth investing in major repairs before listing. While fixing up a house can sometimes increase its resale value, the reality for many New York homeowners is that the cost of renovations often outweighs the potential return on investment. In fact, for homes that need multiple updates, selling “as-is” and letting the buyer handle the repairs can be the smarter financial decision.
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The High Cost of Renovations in New York
Renovation prices vary by contractor, material quality, and neighborhood, but average costs for a typical 1,800 square foot home in New York often look like this:
Kitchen Remodel: A new kitchen can easily range from $40,000 to $70,000 for mid-range finishes, with high-end projects pushing $100,000 or more. Even small updates—like cabinets, counters, and appliances—rarely cost less than $25,000.
Bathroom Remodels: Updating a single bathroom averages $15,000 to $30,000 depending on size and features. A home with two bathrooms could easily see $40,000 to $50,000 in renovation bills.
Floors: Replacing outdated flooring across a whole 1,800 square foot home costs between $15,000 and $30,000 depending on materials. Hardwood refinishing is cheaper than new installations but still runs in the thousands.
Walls and Paint: Professional interior painting averages $6,000 to $12,000 for a home of this size. If there’s drywall repair or plaster issues, costs rise quickly.
Roof Replacement: A new roof on an 1,800 square foot home often costs $15,000 to $25,000, especially if decking or insulation needs replacement.
Driveway Replacement: Installing a new asphalt or concrete driveway is another $8,000 to $15,000, depending on size and materials.
Basement Water Issues: Repairing leaks or waterproofing can be anywhere from $10,000 to $30,000 depending on severity. Persistent water problems lower buyer confidence even after repairs.
Most sellers assume that putting $100,000 into renovations means they’ll sell for $100,000 more. In reality, buyers often discount the value of repairs because they would have chosen different finishes, materials, or layouts. Many renovations only return 50%–70% of their cost at resale. For example, a $60,000 kitchen remodel might only increase your home’s value by $30,000 to $40,000.
The risk is even higher if multiple systems need work. A house that needs new kitchen, bathrooms, flooring, and a roof could easily demand $150,000 to $200,000 in repairs. Yet the home’s resale value may not rise enough to justify the outlay, especially in markets like Westchester and NYC where buyers often prefer to do their own upgrades.
Instead of draining cash and time into uncertain renovations, many sellers choose to list their home as-is. Selling as-is means the buyer takes on the responsibility for repairs and updates. While you may sell for less than a fully renovated home, you avoid the months of disruption, the stress of overseeing contractors, and the risk of overspending with little return.
For example, if your home needs $120,000 worth of updates, you might only gain $70,000 in extra sale value by completing them. That means you’ve actually lost money and time. By selling as-is, you can price your home competitively, attract investors and buyers willing to take on projects, and walk away with equity intact.
If your 1,800 square foot home needs major updates—a new kitchen, bathroom renovations, roof, flooring, and more—the costs can quickly spiral into six figures. Sure, some of these estimates may be at the high end, but going cheap often gets flagged during home inspections and needs to be done over. There's no way around the reality that the cash needed to repair a home is often the same cash a seller didn't have to maintain a home. Given that most renovations don’t return dollar-for-dollar at resale, many New York homeowners are better served by selling their homes as-is. This approach passes the repair risks to the buyer, saves you money, and gets you to closing faster.
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