How Does a Kitchen Remodel Impact Your Home Value
They say kitchens sell homes, and truer words have really never been spoken. Although it is not an exact science and the numbers can fluctuate, historically speaking kitchens have always had one of the largest impacts on home value, and fare better for their return on investment than upgrades to bathrooms or other parts of the home. Although the simple answer is that a remodeled kitchen will nearly almost always pay off, the more complicated answer needs to take into consideration your personal situation and property. If you are thinking of updating your kitchen, here are a few ways to learn how a remodel will impact your home value.
The age of your current kitchen. If your current kitchen is still relatively new, it’s going to be difficult to make such impactful improvements that it will significantly raise the value. In addition to that, over-improvement is a real thing, and many owners find themselves disappointed when they sell their home and don’t get their money back on all the improvements. That being said if your kitchen is looking dated, a simple upgrade can significantly increase your home’s value when you ultimately sell it to upgrade or move.
The layout of your current kitchen. If you have a kitchen that has some serious deficiencies that you can remedy through a remodel, you can expect to see a high rate of return when you turn around and sell it. For example, older kitchens often have unnecessary walls that back up to the living room. If you can move your appliances around and blow out the wall to open the floorplan up, you can be sure you’ll see a return on that remodel.
The functionality of your current kitchen. If you can implement thoughtful details that increase storage, access to commonly used items, improve the practicality or efficiency of one’s ability to cook, or anything else that improves the user experience of cooking in your kitchen – you are sure to improve the value of your home. Islands with concealed storage compartments are incredible features that would be desirable to many potential buyers, and other thoughtful additions will have the same positive impact.
Although some people want to hear which specific projects will guarantee a return on investment, it actually turns out that the answer to that question is often incredibly location-based. In some places, one of the biggest investments you can make into your home’s equity is attic insulation, but in most of California that is not the case. If you would like to figure out which key projects would have the biggest positive impact on your equity, one quick call to the professionals will open a world of possibilities.