Kitchen Renovation: One of the Best Ways to Add Value

When it comes to home renovation, there is no greater return on your investment than renovating your kitchen. The kitchen is the heart of the home. It is a place where the family gathers and is nourished both physically and mentally. The renovations you make to your kitchen will depend on the reasons for renovating, budget constraints, and your future plans.
If you are renovating to sell, updating the kitchen will make your whole house more appealing. Basically, when renovating to sell, keep it simple. Scrub instead of paint. Paint instead of replace. Make the kitchen as appealing as you can without spending a lot of money.
Moderate or minor kitchen remodels are the wisest choice when renovating for potential buyers. Chances are the new homeowner will make changes of their own anyway. The following are areas that can be tweaked:
1. The ceiling and walls of your kitchen should be clean, free of dirt and grease and painted in neutral colors.
2. Countertops should be cleaned or replaced if damaged. If they need to be replaced, use a laminate instead of more expensive granite or stone finishes.
3. Cabinets can be very expensive to replace, but existing cabinetry can be resurfaced or repainted depending on the finish. New hardware is an inexpensive way to update cabinetry.
4. Appliances, fixtures and floors should be modern, sparkling clean and in good condition. If not, repair or replace them.
If you plan to remain in your home for a long time, then your kitchen renovation is only limited by your imagination and budget. Any kitchen renovation guarantees at least a 100 percent rate of return on your investment in case you ever decide to sell. The average kitchen renovation is about $45,000, but a good guideline is to set your renovation budget at 15 percent of your home’s value. If your home’s value is $200,000, then your renovation budget should be $30,000.
The biggest expense will be cabinets, followed by countertops and appliances. Other expenses will include flooring, electrical and plumbing labor costs, electrical and plumbing fixtures, design costs and permits. Moving a sink’s or stove’s location may significantly add to your costs since lines and pipes will have to be rerouted. Consulting a kitchen design specialist may add to your cost, but save you from costly mistakes.
Spend a little or spend a lot; a kitchen renovation is a solid investment adding to your home’s value and your family’s pleasure and comfort.