Remodeling Your Kitchen: Will It Really Increase the Value of Your Home?
Whether or not you’re looking to sell your home in the near future, adding value to your home is always a good idea, because you never know what could happen in the future. Now, how are you going to add value to your home? Well, in some instances a kitchen remodel could be a good investment. DS Brothers Ltd, builders in London, has shared what you need to know before you go ahead with such a project.
The Difference Between Minor and Major Kitchen Remodels
A minor kitchen remodel does not involve much heavy construction. A minor remodel includes things such as repainting, new cabinets, new appliances, adding or replacing a back splash, and changing the flooring (if you change from tile to hardwood flooring, the house will be more popular).
A major kitchen remodel is when you do things that involve major work and construction, such as changing the floorplan, knocking out or building new walls, removing or patching the outdated popcorn ceiling, or rewiring to change the type of lighting.
A major kitchen remodel is definitely more expensive than a minor remodel and is also more time consuming and requires the owner of the home to work with multiple contractors on many different projects.
According to Nerd Wallet, a minor remodel could raise the value of your home by about $83 per $100 you spend upgrading your kitchen. Nerd Wallet also says, however, that a major upgrade to your kitchen, while earning your home more value than a minor upgrade will, it will also probably cost much much more than it earns you in the long run and you will simply be losing money on a major upgrade.
While remodeling your kitchen in a big way seems like the best course of action to add value to your home, it typically is recommended that you do more minor things in order to raise the value of your home and save major projects for the purpose of your own enjoyment.
What to Do to Receive the Highest Return on Your Home Remodel
According to HomeLight, the amount people are spending when they are attempting to sell their homes in order to renovate and get the best return possible on the investment they made in their house is rising yearly.
This amount of spending is not always bad, but typically people think that renovation is their best bet when in reality it is not. When trying to sell your home and earn the highest possible amount from it, your mind will instantly jump to making drastic and large changes. This is only the best option if it adds value, which it doesn’t always.
HomeLight suggests that instead of thinking about what you feel needs to be fixed, you should think about how the house looks when the buyer walks into the home. The buyer is more likely to pursue a purchase of your home if it looks nice. Thus, you should put your renovation budget into cosmetic renovation unless you have a dangerous situation in the home.
Typically there are main areas of the home that buyers are looking at when deciding whether or not to move forward with the purchase of a house. Because value is placed on different features not only by geographic location and cultural tradition but by individual preference and situation, it is always best to have a target buyer and to renovate to cater to that target.
Kitchen remodeling may be a good idea for some buyers and for others it may be a waste of money. The main thing is to ask your agent to take a look around the home and recommend renovations and things to be fixed so that you can ensure you are renovating for sales purposes and not for your own desires.
Increasing the Value of Your Home Without Paying Huge Prices
There are other things you can do to increase the value of your home and make the appearance of it more presentable and desirable that may save you some of the immense cost that a remodeled kitchen would require.
If you want to increase the value of your home without paying money that is not guaranteed to come back to you, you could try things such as painting, changing up the décor, planting trees, bushes, flowers, and new grass, and adding in a water filtration system or replacing sinks or faucets.
Another great way to increase the value of your home without spending the amount of money you would to remodel a kitchen is to eliminate the popcorn on the ceilings or at the very least have it patched. Speaking from personal experience, removing popcorn from your ceilings is so much more attractive and raises the value of your home a good bit. Removing it completely is actually easier than patching it, as patching materials are just cement that is repackaged.