How can a kitchen remodel increase your home’s value?
Is it really worth investing in a full-scale kitchen remodel?
The short answer is: it depends on your goals.
If you plan to spend several more years in your current home, but you can’t stand your dated kitchen, it is definitely worth the time and money to upgrade it.
Why?
Because energy-efficient appliances, low-maintenance materials, and functional storage solutions can save you quite a few dollars in the long run and make your everyday life way easier.
But what if you are planning to sell your home soon?
Well, in that case, you will need to take a slightly different approach.
Here is why:
The scope of your project can affect your ROI
One mistake homeowners often make during a kitchen remodel is believing that they will get a 100% return on their investment.
While you can still recoup some of your costs, the average ROI for a mid-range kitchen renovation is between 50 to 60%.
The return on minor renovations is somewhat higher, between 80-90%.
For this reason, we recommend you prioritize and set a budget limit for yourself before you jump into your project.
But in the end, it is up to you and your financial situation to decide whether it is worth spending more money on your project with a lower return on investment.
If your goal is to sell the house for a better price with the lowest expenditure possible, repainting the walls, refacing your old cabinets, and replacing your hardware may be just enough.
If you don’t plan to move anytime soon and all you want is to enjoy your new kitchen, on the other hand, it is well worth investing in high-quality custom cabinetry and countertops.
Can a kitchen sell a house?
Nobody can guarantee that an upgraded kitchen alone can boost the value of your home.
The overall condition of the property, the area, and the region you live in also play a key role in whether you can sell your house at the price you want.
However, the majority of buyers know that the kitchen is the focal point of the home and would be willing to pay more for a modern, newly upgraded kitchen.
The state of your kitchen can actually influence how quickly your home sells.
Even if there are other areas in the property that need a face-lift, people are without a doubt more likely to buy a house with an aesthetically pleasing, functional kitchen and then invest in smaller renovations in the other rooms.
One more thing to bear in mind is that the new kitchen shouldn’t be over-customized.
Instead, try going for a style that can appeal to most potential buyers.
Find a professional to help you!
Before jumping into a full-scale kitchen remodel project, it is essential to make a careful cost analysis to determine on what and how much you should spend.
It may seem like a great idea at first to invest in high-end, expensive lighting fixtures, but it might not pay out.
Kitchen remodeling is a lot of work that you may not be able to do on your own.
Whether you are renovating for yourself, or selling, an experienced contractor can help identify the most important issues that need to be taken care of, assist you in finding the best storage solutions for your space, and supply you with high-quality materials.
Simple Living Kitchen & Bath is your one-stop shop for a professional kitchen remodel.
Call us now at (352) 675-2781 to schedule a showroom appointment or ask any questions!