Discover how kitchen remodeling boosts the value of your home and learn what steps to take and why it’s worth it
The kitchen is the trendiest place to be if you want to refresh your surroundings with a stylish display in your house. It should come as no surprise that the kitchen is one of the rooms that potential house buyers value most. Why not take advantage of those rewards in your own home right away if you have the money?
You could be unsure about moving forward with the project and questioning if you should. Is the price of a new kitchen really good enough to justify it? If you’re wise, you’ll consider the long term. Spending money on your kitchen now could repay you handsomely when you sell your house.
So how much does a kitchen renovation raise the value of a house? Depending on the response, you might be able to decide whether you genuinely want to finish the project. Continue reading this article to find out how kitchen remodeling boosts the value of your home!
How Much Does a Kitchen Renovation Raise the Value of a Home?
- A new kitchen can raise the value of a house. The value is typically represented as the proportion of the remodel’s cost that the homeowner gets back when the house is sold. According to Better Homes and Gardens, homeowners may anticipate a return on their investment in a new kitchen of roughly 52% if they decide to sell their house.
The precise amount you’ll recover is based on a number of variables, including the worth of your home, the homes in your community, and the project’s effectiveness.
- The amount you spend on the project will also affect how much your home’s value rises. A significant, premium kitchen makeover returns 53.9% of the money spent. The return on investment for remodeling your kitchen with mid-range fixtures is 58.6%. A small kitchen remodel with mid-range fixtures will yield a 77.6% return on investment.
The fact that a modest kitchen remodel, like replacing cabinetry, provides a larger ROI than a comprehensive remodel, such as altering the kitchen’s design and layout, may appear paradoxical. You could assume that the more money you put in, the more you’ll earn.
- However, it makes perfect sense that the return is better when you consider that you are spending significantly less money on a little improvement while still receiving the intended result.
You cannot see the whole return value by just looking at the numbers. After remodeling the kitchen, consider how long you plan to stay in the house. The percentage of return is the largest consideration if you intend to relocate fast following the makeover.
- However, if you intend to live in the house for a while after the renovation, you should make practical improvements for your family.
How Much of the Value of Your Home Should You Invest in a Kitchen?
- According to experts, kitchen renovation costs should range from 6 to 10% of the home’s market value. You might not get a satisfactory return on your investment if you spend over that amount. The amount of money you spend in relation to the potential value you add must be considered.
Also, consider how much time you expect to spend at home once the kitchen has been renovated. The 6-to-10% ratio makes sense if you are moving out immediately. If you intend to remain in your house for many years, you may wish to invest more money because the expenditure also becomes about your own pleasure in the area.
So, Is a Kitchen Remodel Worth the Money?
The answer relies on you and your objectives. Consider it this way: It is not a good idea to invest $60,000 in a new kitchen if your real estate agent estimates that you will only recoup $40,000 when you sell your home in 2 months.
That’s a waste of $20,000. It is more practical to undertake a few economical renovations that might only cost $5,000. Before you put your house on the market, the appropriate upgrades can increase its value and help you draw in as many purchasers as possible.
- Your home will stand out to potential buyers if your kitchen has been remodeled, which might help you sell it more quickly and for a higher price. That is excellent news if you intend to sell your home in the future.
However, only because your home’s value increases does not guarantee that you will make back all of your renovation expenses when you sell. Need more assistance in making a decision? Feel free to connect with the experts at Dupont Kitchens and Bathrooms today!
