Co op Renovation

I would say that renovating the kitchen and bath will help you sell the apartment more quickly but will be unlikely to increase the amount you get for it. Given that, the money you spend for renovations is really to enhance your own quality of life in the apartment and enjoyment of living there. Spend accordingly.

It's impossible to say where the RE market will be in 6 years, so I would say this type of conservative approach is best for you. If there are identical apartments in your building (layout, views, light) that have been renovated and sold recently, those comp sales will be most instructive for you as you decide how to proceed.

Having seen many renovated kitchen and baths while apartment hunting, I would add to Kyle's excellent response that I've rarely seen a renovated kitchen or bath that would appeal to everyone's taste. There's always a few details (i.e. lighting, kitchen cabinet doors) that are owner-specific. It's difficult to create such an ideal environment that no one would want to change a thing.

As a buyer, I calculate what I will want to change in a kitchen or bath when determining a possible offer. You'll never get 100% back of what you invested.