What is the Average Return on Investment for a Kitchen Remodel?

ROI for kitchen remodel

What is the Average Return on Investment for a Kitchen Remodel?

Are you planning for a kitchen remodel, but not sure whether you will be able to recoup the costs?

According to many homeowners, remodeling a kitchen is a very rewarding home improvement task which can simply double the elegance and offer more ROI.

Sure, if you are a homeowner and want to drastically improve the appearance of your home for getting the highest return on investment then it is the time to decide which place needs more enhancement and what things can play a major role to increase its worth.

If you have an older kitchen, you need to remodel it to make it up-to-date according to the new trends. Some small kitchens just need a mini-makeover like a cabinet installation or painting and use of some upgraded appliances to give a new sparkle.

Minor remodel:

I have seen most of the people who hear the world remodel, and instead of paying attention they ignore the things badly. And as a result, everything suffers. This usually happens because many homeowners have already heard different scary stories of their family and friends who have experienced some bad things during the renovation. But in the case of kitchen remodel, things are little changed. You can prefer minor kitchen remodeling.

A minor kitchen remodeling mainly includes but not limited to those renovations that usually fall under some surface level elements. When you think in terms of kitchen facelift rather than choosing some major construction features, you will save a lot of money. But it’s better to prefer some least costly items which can simply make your home appear larger and updated than before.

If you feel interested in finding what would be the average return on investment on kitchen renovation, I am sure you will feel pleased to know that recouping most of the money is a hard thing to do. If you own an old house, then the average minor kitchen remodel would usually cost around $15,763 and then you can resell one year later for $16,689. Now it means that the average return on investment is 95%.

New kitchen cabinets:

Kitchen cabinets are usually one of the major things that everyone notices when they enter the kitchen, and that’s why it looks like it is the first thing to consider while starting your kitchen renovation. However, you don’t need to tear them out from scratch. You can consider painting your cabinets and get them stained in a great way just to make them according to the 21st century without even breaking your budget.

On the other hand, if you own an old house and damaged cabinets, then it’s better to consider adding some new in a reliable budget. Like your stock cabinets would generally price from $70 to $300 per linear foot while your custom cabinets would range anywhere from $150 to $680 per linear foot.

New Floors:

New kitchen flooring is a dream of every homeowner. It improves the worth of your kitchen remodel and completely transforms the shape of your interiors. Although it might not be the first thing that comes to your mind while remodeling, it shouldn’t be taken for granted.

The goal of putting a new floor is to improve the shape of your kitchen and get more ROI. So, for this, linoleum and vinyl tiles would be an inexpensive choice, but they might not return any significant value. Another idea is to install eco-friendly floors such as bamboo or cork.

Installing new fixtures:

After updating your kitchen cabinets and floors, some upgraded kitchen fixtures would look extremely awesome and give a major return on investment. You can bring some small change like updating lights, switches, or even outlet plates which can dramatically enhance the appearance of the house.

However, it is also important to know which appliances would work well and function best. For example, a microwave oven, and an updated dishwasher would ultimately ease your life and bring more energy to your kitchen. Hence, it will also improve your return on investment by 70%.

Open Concept Kitchens:

The concept of the open kitchen has now become increasingly popular in the last few years. They do the best job, improve functionality and appearance and generally modernize the overall aesthetic of your old house. According to the trend of 1900, open concept kitchens were not so popular, and that’s the reason older homes were in a multi-room style where all the rooms were simply sectioned off for some real purpose.

Today, functionality also has become the main priority, so home improvement contractors tend to design the open concept kitchens which may give them more ROI for upcoming years.

Enhanced layout:

The enhanced kitchen layout is usually one of the most dynamic changes which can be simply made during your kitchen remodel, but if it suits your budget then it’s well worth. A solid open plan kitchen remodels would ultimately leave the space functional and sought-after. That’s the reason, working with kitchen renovation professionals can streamline the process of deciding which layout would work well according to the style of your home. For example, the L-shape kitchen layout is getting popular and much affordable for common people.

Kitchen Island;

If you have decided to make L-shaped or open shaped kitchen, the next step would consider adding the kitchen island. These are highly sought after by many homeowners because the style can simply increase the counter space, storage area, enhance your workspace, and provide more seating area. Homeowners will see find this a greater asset which will add value to your prospected time.

If you want to give a wow factor with your kitchen island, then you could consider spending more than $7,000. But eventually, you would not see the major return on investment as compared to that price you will spend on different renovations.

If you want to upgrade your home, consider kitchen remodeling for some more enhanced look and invest according to your budget for handsome ROI. Minor kitchen remodel can work wonders and you could have a beautiful kitchen with least investment and then recoup some major portion on your return on investment.

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