Is a Kitchen Reno Worth the Return on Investment?

Any time we’re ready to dole out money for renovations on our home, it’s necessary to stop and think about whether we’ll get our money’s worth, so to speak. If we spend $20,000 fixing up our master bath, for example, how much more will we get for our home when it’s time to see it? $5000? $10,000? Is the amount we make at sale time – otherwise known as return on investment or ROI – worth putting out the money up front, especially if we’re going to move in the next five years or so?
It depends. If you’re considering a kitchen reno, you’ll need to decide whether the benefits of spending the money on the renovation outweigh the costs, time, and energy spent on the project as well. All of this will help you determine whether a kitchen reno is right for you.

Kitchen renovations and the value of your home

Homebuyers from all walks of life proclaim kitchens as the most important room in a house, followed by the master bedroom and the living area. In addition, countless research shows that buyers most carefully inspect the kitchen and the master bath when they’re at a showing or going through an open house.
Similarly, other surveys show that buyers would have been willing to pay more for a house with a more modern, upgraded kitchen. For example, of buyers who bought homes lacking certain features they would have preferred, more than two-thirds said they would have paid more for new appliances while some 50 percent of buyers said they would have paid additional money for granite or quartz countertops.
So, it’s clear to see that money spent on a kitchen reno is well worth the investment. While you may not recover everything that you put out for a kitchen remodel, a decent percentage will show up in your check at closing.

Keeping that ROI high

Though, in general, kitchen reno jobs offer a good ROI, there are ways that you can ensure that you’ll get back as much money as possible when you sell. Here are a few ideas that should help you reap the benefits of a remodel.
⦁ Use a neutral color scheme. While neutrals might not be everyone’s favorite, it is easier for buyers to imagine themselves in your kitchen when the palette is neutral than it is if you decide on bright red or orange for your walls or green for your cabinets.
⦁ Consider investing in a quartz countertop. It’s more popular than granite these days because it’s durable, non-porous, and very versatile. You’ll spend a little more for it but definitely get more back in the end because it’s what buyers want.
⦁ Go for transitional styling. Transitional is a blend of traditional and contemporary and is best described as simple elegance. Nothing too elaborate and nothing too minimalistic. This kitchen reno appeals to most buyers so you’re sure to get some return on investment if you move in this direction.
⦁ Opt for stainless steel appliances. These are still the most popular choice for today’s kitchens and nice ones certainly catch the eye of buyers.
Of course, a major renovation might not be necessary. Browse “kitchen renovation near me” and you’ll find tons of websites featuring kitchens that didn’t cost an arm and a leg. There are certainly ways to keep the costs down a bit.
⦁ Choose cabinet refacing instead of cabinet replacement for your kitchen reno. Refacing gives your kitchen a whole fresh look at just the fraction of the cost of new cabinets. If your existing cabinet boxes are in good condition, you can go in this direction and still have a kitchen that looks good as new in a style that you desire.
⦁ Don’t go with the top-of-the-line products. You can get many materials that look as good as the expensive stuff if you just do a little smart shopping. Many laminate floors look just as good as hardwood, for example, and are much easier to care for.
⦁ Re-use the items that can be reused. Not everything in your kitchen will need to be replaced. Look around and decide what can be spared as-is or with an update. You may wind up saving quite a bit on your kitchen reno!
As you search for “kitchen renovation near me,” stop and take a close look at the products and services offered by KCR. We provide great options for kitchen renovations at an affordable price, providing you with the ability to recognize a substantial return on investment when it’s time to sell your home. To browse through our products and to learn more about the services we offer as well as our superior warranty, visit us at www.kitchencabinetrefacing.com.