HOW WILL KITCHEN REMODELING AFFECT YOUR HOME’S VALUE?

Kitchen remodels are one of the most common home renovations, but you don’t have to gut your cooking space and start over. Little improvements and updates often have a bigger return on investment.

While you can conservatively anticipate a 30% to 85% return on your investment in a new kitchen, home sellers typically see a higher ROI on smaller renovations that focus on new appliances, functional countertops, and quality cabinetry.

Major kitchen renovations don’t have as high of a payoff at sale, partly because they may include items and style choices that don’t appeal to the average buyer.

Making some small changes like those listed below can pay off when you sell your home.

CABINETS

If your existing cabinets are in good shape, it’s probably not worth the investment to replace them. Most cabinetry, especially if made of real wood, is easily painted. A neutral tone and some modern hardware are the easiest ways to update your kitchen without a big investment in time or money.

FIXTURES

Along with refreshing the cabinets, replacing the faucet, light fixtures, and door knobs are easy upgrades. These small changes can go a long way in the overall look and feel of your kitchen (or any room). Similarly, upgrading a backsplash or applying a fresh coat of paint falls into the category of minor remodeling that has a larger ROI.

COUNTERTOPS

Most real estate agents agree that you aren’t likely to recoup the cost of new countertops. However, you are likely to sell your home more quickly if you have updated, quality surfaces. When deciding between a stone or manufactured product, again look at the market you’re in and consider your goals. While countertops may not affect your home’s financial value, they will positively impact the appearance and feel of the kitchen.

APPLIANCES

Mismatched, outdated, or poorly functioning appliances are a primary reason for renovating a kitchen. If you’re looking to sell, it’s important to offer buyers a kitchen that functions properly. Updating appliances is the easiest way to do this. Stainless steel has been the go-to for a long time now, but it’s most important to have matching appliances.

WINDOWS

Windows may not be the first thing you think of when renovating a room, but they’re underestimated. Natural light is at the top of buyers’ wishlists, as are well-insulated windows. Replacing and upgrading windows is a major investment and is best done in stages. Why not start in the kitchen?

OVERALL FUNCTIONALITY

Whether you’re looking to sell or stay put for a while, the main goal of a kitchen remodel is to increase functionality. If you have the space, adding an island is a great way to make a kitchen feel bigger while adding counter and storage space. Also, consider updating the sink and adding a garbage disposal if you don’t already have one. For plumbing and electrical work, be sure to bring in a professional.

CONCLUSION

While most home and garden television shows would have us think we need to completely tear our kitchens down to the studs, that’s not necessary. A small renovation will have a major impact on your home’s value. Consider the usefulness of the space, the typical buyer in your area, and how much of a project you want to undertake.

And always remember this: Every kitchen update will help you enjoy your space while you still live there, and entice buyers when your home hits the market.

Alison is a Midwesterner through and through and loves to spend her time traveling, baking, writing, and reading.