How Does Kitchen Remodeling Impact Your Home’s Value?
A modern, open-concept living room and kitchen with a dog lying on the floor. The kitchen features white cabinets, a blue island with stools, and a dining table with place settings and a centerpiece.
One place that spices things up in a home is the kitchen space. Everyone yearns to have all their delicacies prepared in a functional yet beautiful area. Home buyers are also not left behind, as they look forward to a stylish showpiece in this area when purchasing a home.
The truth is that kitchen remodeling is worth it if you’ve got the budget. You may want to remodel because you can’t stand the old kitchen or simply want to upgrade the area. Regardless of the reason, it is important to know how much value a remodeled kitchen adds. A complete overhaul or a few updates in selected areas comes with a cost.
Ask yourself: Is it the right investment for your wallet and home? Is it really worth it?
Budget Kitchen Remodeling Accordingly
A kitchen remodel can be a significant undertaking, and you may wonder how much value a kitchen renovation adds. Though it adds value, you will have to cough up a huge chunk of change when you decide to pursue this as your dream.
The only way to manage this is to budget with a successful remodel plan. Consider the cost of the cabinets, new light fixtures, and countertops. Having a solid plan for the average costs will help you stay on track during the project.
It’s noble to spend more on appliances and cabinets that won’t need to be replaced often. If you aren’t sure how to create a budget for this project, talk to a remodeling expert for better insights.
How Much Value Does a Kitchen Remodel Add
Many people remodel their kitchens to add value to their homes. With the ongoing market trends, home buyers are willing to spend money on thoughtful upgrades and high-end finishes.
Most surveys show homebuyers placing the kitchen space among the top three important areas in a home. The surprising statistics are that many buyers prefer homes with new appliances and granite counters in the kitchen area. If you were to sell a house, remodel your kitchen space, as prospective buyers are looking for this, making it sell faster and at an increased price.
However, this doesn’t mean that you will recover the entire amount. Yes, your home value goes up after the remodel, but you will only get 60% to 80% of the amount you used for the upgrade when you sell.
Get Your Kitchen Remodel Today
If you want to remodel your kitchen, first think about how much remodeling a kitchen adds value to your home. This way, you’ll get it right as an investment to pursue. At Millie Monroe Construction, we help you plan and execute kitchen remodels in Duluth. Contact us today and let us know how we can help you achieve your remodeling dreams.