Kitchen Remodeling—How It Impacts Your Home’s Value


At some point homeowners will start thinking about boosting their home’s value in some way. It’s a luxury to be able to own a house; but to maintain and increase your home’s value, you’re going to have to invest in a remodeling project somewhere along the line.
The problem is that home remodeling projects aren’t cheap. You need to take on projects that generate the best value for the dollar. If you’re thinking about getting return on investment then there’s no better home improvement project than a kitchen remodel!
Kitchen remodels can boost your house’s value substantially.
Let’s take a closer look at how a kitchen remodel impacts your home’s value:

Increase Resale Value

Kitchen remodels are costly; homeowners will have to compare the cost of the remodel to the value it’s going to bring them. Compared to bathroom remodels, kitchen remodels are better at increasing a house’s value. According to HomeGuides, kitchen remodels return around 69% of their costs depending on the real estate market. On the other hand, bathroom remodels only return 57% of the costs.
Generally, the better the kitchen interiors, the greater the value of the house is. If you have the budget, invest in high-rate appliances, kitchen cabinets, countertops and plumbing fixtures to really bring up the value of your house.

Market Trends

Bear in mind that kitchen remodel on its own cannot determine by how much your house’s value will increase. The resale value is heavily dependent on the real estate market. When the real estate market is down, it will take a toll on the resale value of your house. On the other hand, when the real estate market is strong, your resale value will hike up.
The health of the real estate market can help you decide how much you should spend on a kitchen remodel if you intend on selling the house. In weaker real estate markets, small-budget kitchen remodeling projects are usually more profitable.

Minor Remodeling Projects

What do small-budget kitchen remodeling projects consist of? Usually minor kitchen remodeling projects involve replacing appliances, countertops, cabinet doors and drawer fronts.
There’s little, if any, work done on the plumping, fixtures and flooring of the kitchen.
The idea is to revamp the kitchen in whatever way you can on a tight budget so it no longer looks dull and worn out. If you don’t even have the budget to replace cabinet doors and drawer fronts, try just polishing the cabinets, repainting the walls and giving the floor a good scrubbing.
Speak to your contractor about affordable ways to upgrade your kitchen. The best contractors are able to give your home a facelift even on the smallest of budgets so find a company with the skills and expertise necessary to enhance your home without breaking the budget.

Oakridge Remodeling are experts in commercial and residential renovations in Regina, Saskatchewan. Their services consist of basement remodeling, bathroom & kitchen remodeling and more. If you’re living nearby, get in touch with them at 1-306-993-1170 for more information. 

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