According to data from the National Association of Realtors, 80% of prospective buyers consider the kitchen one of the most important if not the most important spaces in the home. In that same survey, a majority of buyers also said they’re willing to pay more for an upgraded kitchen. In other words, a kitchen remodel is one of the best projects to take on if you want to boost your home’s value.
However, not all kitchen remodels are created equal. After all, the more you put into the renovation, the lower your potential return-on-investment (ROI). What this effectively means is that there is a “sweet spot” for kitchen remodels where you spend what you need to in order to get the most money back. In this article, we will review the aspects of a kitchen remodel you should prioritize to ensure you get the most money back when you list and sell your home.
Focus on the countertops and cabinets
When most buyers read “remodeled kitchen,” their expectation is that there are new countertops and cabinets. Replacing your older counters and cabinets with new ones will most likely be the priciest part of the remodel. However, it’s hard to argue for going without it: your prospective buyers value this aspect of the remodel and skipping it may put your home at a competitive disadvantage compared to other homes in your price-per-square-foot range.
If you decide to replace your counters and cabinets, make quality your priority. Cutting corners on materials or labor can come back to bite you by diminishing the long-term value of your home. Instead, limit your investment by finding a good deal or bulk rate on high-quality materials. One great way to save is by buying directly from us, the fabricator. Since we buy many slabs of Granite and Quartz, we are able to get you better deals by passing those savings onto you.
Avoid prioritizing luxury over utility. Homebuyers want a kitchen that looks great, but not at the expense of practical use. For example, marble countertops may not be tough enough for day-to-day use in the kitchen. An open kitchen floor plan may be initially appealing, but not if it comes at the cost of half of the cabinets and kitchen storage. Think through how you would use the space before committing to the details of your remodel.
Limit major structural changes
If you want to keep your project costs from ballooning, try to avoid floorplan or structural changes to your home. Popular home remodeling television shows have made open kitchens trendy and fun, but they’re not a fit for every home and can lead to higher upfront remodeling costs. In reality, most kitchens do not have a space problem. If they do, there may be other, less expensive ways to innovate around such issues, such as adding in-cabinet storage.
After all, just think of what removing an interior wall actually entails:
The small things matter
So far, we’ve described significant, “big ticket” changes and renovations. However, no kitchen remodel is complete without the small touches and additions that bring the space to life. In the margins of your remodeling budget, be sure to put the time into:
Strike the right balance
In general, you need to find the middle ground between remodeling your kitchen for the masses and creating a space that you’ll personally love here-and-now. After all, whether you’re planning on selling in the next year or not for many years to come, you can and should build a kitchen that works for you and your family while also adding value to your home. As mentioned earlier, think about your remodel from the perspective of using the kitchen every single day, and you’ll be on the right track toward a value-boosting renovation.
Feel like Increasing your home’s value? Visit a Midwest Rock Tops today!
3225 Kingsley Way
Madison, WI 53711
Map + Directions