Kitchen remodeling is a wise investment in nearly all circumstances. Whether you have an older home or a fairly recent build, you can probably see benefits from kitchen remodeling. With that in mind, there are some renovations that provide more value that others. That’s what we’re going to focus on today. Read on to learn if kitchen remodeling will add value to your home.
Kitchens Sell Homes. Period.
Talk to any realtor, and they’ll tell you, “Kitchens sell homes.” The kitchen is one of the top factors buyers look for during their home searches. A home with an outdated kitchen or a bad kitchen layout will not appeal to as many buyers. Buyers also assume that kitchen remodeling is expensive and daunting, so they don’t want to hassle with it. If you have a kitchen that’s turnkey, it will appeal to more buyers – even if the rest of your home needs renovation.
Some Investments Pay off More Than Others
From the perspective of adding value, some kitchen renovations offer more value than others. For instance, if you upgrade from laminate countertops to granite countertops, you will most likely add value to your home. If you upgrade the appliances, you’ll see an increase. However, if you upgrade to luxury appliances or top-end granite, you may not see a full return on investment.
The neighborhood you live in also plays a role in added value. If you live in an upscale neighborhood, buyers may expect those luxury upgrades in a kitchen. You need to be aware of what homes are selling for in your area, and what kinds of features they include. If you choose to do something above the value of the neighborhood, you are investing in opulence, not value.
Increased Value vs. Maintained Value
Sometimes kitchen remodeling is about maintaining the value of your home, not adding to it. Let’s say your kitchen was renovated 20 years ago. It probably had great features at that time, but all those features are now dated or obsolete. If you remodel your kitchen to comply with modern expectations, you are maintaining the projected value of your home.
Increased Value vs. Faster Sales Potential
If you are thinking about remodeling your kitchen before you sell it, there are some considerations to take into account. A new kitchen may allow you to sell your home for more money, but not necessarily. The market changes so frequently that it’s difficult to predict that. What you can be sure of is that having a remodeled kitchen will help your home sell faster. This allows you to recoup your investment as quickly as possible.
How to Maximize Added Value with Kitchen Remodeling
Here are some tips to maximize your added value from kitchen remodeling:
- Use neutral colors for cabinets, flooring, countertops and tile. You can add color with paint, artwork, decorative dishes and other décor. The neutral base will appeal to more buyers, and it will keep your kitchen looking great for years to come.
- Be strategic with where you spend your money. Make a list of the most important features to update, and make smart investments in those areas. If you want to add some luxury features after that, go for it! Just note they may not ‘add value’ to your home.
- Use your existing kitchen layout, if it flows well. Changing your kitchen layout may require you to move plumbing, electrical, and more. If your current layout works well, maintain it. If it is not efficient though, you may add value by creating a better flow for your kitchen.
- Avoid trendy kitchen features. There’s nothing wrong with being on-trend, but ‘trendy’ features don’t last long. For instance, having a desk in the kitchen was a big trend at one point, but that trend is nearly obsolete now. Try not to fall prey to kitchen remodeling fads.
- Stay within the style of your home. If you have a traditional-style home, a sleek modern kitchen may look out of place. Conversely, a rustic country kitchen may feel misplaced in a streamlined, minimalistic home. Keep the rest of your house in mind when planning your kitchen remodeling
If you’d like a consultation for kitchen remodeling, contact O’Hanlon Kitchens, Inc: 443-285-0558.