When spending money, the first thought that always sparks in our mind is whether it is even worth it. Would it make any change or not? Similarly, when considering remodeling, questions like, Would the change be beneficial, can I resell it if I remodel and more start popping into our minds. Here, we will discover how the Kitchen adds to your house value. If you are here, that probably means you are interested in knowing the resale value of your kitchen or if the Return on Investment (ROI) is worth it.
According to 2024 Remodelling Magazine, The Cost of the Construction and its Resale Value, the average Return on Investment at a National level is between 38.0% and 96.1%.
Minor Kitchen Remodels:
Minor kitchen remodels cost an average of $27,492 to complete and increased the average home’s resale value by $26,406, which shows a 96.1% Return on Investment.
Midrange Major Kitchen Remodels:
Midrange kitchen remodels cost an average of $79,982 to complete and increase the average home’s resale value by $39,587, which shows a 49.5% ROI.
Upscale Major Kitchen Remodels:
Upscale kitchen remodels cost an average of $158,530 to complete and increase the average home’s resale value by $60,176, which shows a 38.0% ROI.
Increase in Market Value:
The kitchen is the heart of your house, we all believe it! A well-established modern kitchen is what every female looks out for in a house. A contemporary kitchen with up-to-date appliances, stylish cabinets, and smart spacing can make a strong first impression, ultimately giving your home an updated marketability.
Aesthetic appeal and enhanced Functionality:
Ever heard of, first impression is the last impression? A visually appealing kitchen fulfills this quote, a beautiful kitchen can attract more potential buyers. When a good appearance comes hand in hand with functionality, leading to sustainability. This increases the value of your home twice.
At Quality Design and Construction, the expert team provides you with the best guidance regarding your home.
TIPS TO BOOST PROPERTY VALUE THROUGH KITCHEN UPGRADES:
1. Install High-Quality Countertops:
High-quality Countertop makes noticeable changes in the kitchen’s outlook and makes an eye-catching impression on the viewers. Materials like Quartz, granite, or marble are highly recommended for countertops. According to PureWow, durable countertops estimate up to 60-80% of Return on Investment. We advise you to invest in a premium quality countertop so that it lasts long.
2. Upgrade to Energy Efficient Appliances:
If you are using energy-efficient appliances, then eco-conscious buyers are definitely coming your way. These appliances not only enhance the look, but they save you a bunch of money too. These Appliances also have an expected ROI of 60-80%
3. Hardwood Flooring:
Kitchen flooring should be of materials like ceramic tiles, hardwood, or vinyl planks that are easy to clean and durable. According to realtor.com, recover up to 80% of the cost. There are other factors like a fresh coat of paint, lightning, improved backlash, modern sink and faucets, and many more.
Renovating your kitchen before selling can boost your home’s appeal and market value. This attracts more buyers and gives you more profit.
