Does a Kitchen Renovation Increase Home Value?
As a homeowner, you want an attractive, up-to-date kitchen. These spaces are a joy to live in and, ideally, will increase your home's value. However, a poorly considered remodel can drain away market value and make your home very difficult to sell. How can you decide if the remodel you're considering will be worth the expense in the long run?
Do you need a major kitchen overhaul?
- Are you looking to completely change the appearance or layout of your kitchen?
- Do you want the latest, high-end kitchen equipment?
- Do you need to replace multiple, large appliances?
- Has your kitchen suffered extensive damage or general wear and tear?
- Does your kitchen have plumbing or electrical problems?
In these cases, a major overhaul is called for. According to a recent survey by Remodeling.HW.net, the average major kitchen remodel costs about 60k and will add 39k to your home's resale value, making a 65% return on investment.
Will a minor kitchen remodel fit your home's needs?
Do you have just one or two appliances you'd like to update?Are you looking to replace or refinish the cabinet fronts and change out the kitchen hardware?Would you like to brighten the room with a fresh paint job, wallpaper, or linoleum?Does your kitchen need more lighting?
If so, a minor kitchen update may be the best solution. According to Remodeling.HW.net, this remodel costs an average of 20k and will add 16k to resale value, making a respectable 83% return on investment.
One quick solution for both minor and major kitchen remodels:
Consider hiring an interior decorator to look over remodel plans and offer advice before you begin work. This small, upfront investment helps you in two ways. The decorator can ensure that your project will work with your household's needs, and can advise you on substantially increasing your home's market appeal.
If you are looking for home remodeling contractor to completely overhaul your kitchen, contact the expert team at Rashid Construction for expert, quality craftsmanship!