There are two major reasons people think of remodeling may part of their home. First of which is to improve their quality of living, if their home is for personal use. Secondly, people remodel their homes to increase the market value. This is usually done by people who resell their homes.
Kitchen remodeling is the process of renovating parts or all of the kitchen.
How much does a kitchen Remodel cost?
There are various things that affect the cost of remodeling a kitchen. You can remodel your kitchen from $4000 to $60,000. This depends on some factors which include;
- Size of the kitchen. The bigger the kitchen, the more you’ll spend on renovations. This is because bigger space will consume more materials and will require more time to finish.
- Kind of materials. When it comes to remodeling, custom-made materials cost a whole lot more than general materials you can pick up from any store you walk into. This will definitely increase the cost of remodeling.
- Contractors. As much as we would like to go D-I-Y with everything in life, it is not advisable to remodel your house yourself, especially if the only knowledge you have is gotten from YouTube. You can engage the service of a professional contractors to help you remodel your house at the best rate.
- Taste and preference. This will highly influence the total cost of remodeling your kitchen. If your taste borders on the luxurious side, you will spend luxurious money.
What ROI Should I Expect From Remodeling my Kitchen?
If the reason for remodeling your kitchen is for reselling purposes, you have made a great choice. Research has shown that the kitchen plays a major role in convincing people to buy a house. The kitchen has been known to be one of the places people give great consideration to before purchasing a home, especially if it’s a family home.
The real estate industry standard ROI for a mid-level renovation ranges from 50% to 60%. This means if you spend $100,000 as total renovation cost, you should get between $50,000 and $60,000 as interest. Smaller kitchen renovations have been known to yield higher ROIs. As high as 80%.
You should note that the location of the property is capable of highly influencing the return on investments in your home.
5 Kitchen Updates that Improves The Home Value
If you’re want to remodel only certain parts of your kitchen or update only a few appliances, here are five updates for your kitchen that are guaranteed to shoot up the value of your home.
- Kitchen countertops. You can never go wrong with getting new kitchen countertops. There are various types of countertops you can use. They include granite countertops, wooden countertops, tile countertops, etc. you can also consider using reclaimed wood countertops. They give off a warm and inviting ambiance to your kitchen and are very durable.
- Cabinets. You can change the look of your cabinets or change the materials they are made of.
- Tile Backlash. Installing modern tile backlash can give your kitchen a whole new look. There are many tile backlash available in different styles and patterns and are also budget-friendly. You can play around with colors and patterns to create a sophisticated look for your kitchen.
- New Appliances. Getting modern appliances for your kitchen is capable of improving its value. Buyers would be more convinced to purchase a home with new appliances than one with old ones. This saves them the stress of going to shop for appliances for their new home. Installing new dishwashers, double ovens, heaters, refrigerators, etc. can greatly improve the value of your home.
- Invest in Lighting. Most homeowners overlook the light fixtures in their kitchens. A sufficient amount of light in your kitchen will not only improve the beauty of your kitchen but will also make the cooking process easier and more enticing
How to Remodel your Kitchen on a Budget.
If you would like to remodel your kitchen but are on a strict budget, there are a few things you can do.
- Have a plan. When working with a strict remodeling budget, you must first see the end of the whole process before you begin. This is to prevent you from having regrets from wrong choices when you start.
- Prioritize. Update things that MUST be updated first before you make other changes. You don’t want to get new cabinets when your sink is faulty. Make a list of all the things you want to change in the order of importance.
- Choose to paint or refinish your cabinets. Instead of replacing your cabinets, you can choose to refinish, repaint, and add an extra coating of sealants like epoxy to give it an extra shine. You can also change the facing of the cabinets if they have become too old.
- Backlash. If you have tiles on your kitchen walls, consider backlashing them with different colors to bring them back to life. It is way cheaper than installing new walls.
- Paint your appliance. This may seem out of the usual, but painting your old appliance will change their look and give them a fresher and newer look. However, you can only paint appliances that are working perfectly and only need an exterior touch-up, as no amount of paint can fix a faulty microwave.
- Use Vinyl flooring. If you need to change your flooring, consider using vinyl materials as it is a cheaper alternative to installing wood flooring.
Is Kitchen Remodeling Worth it?
This depends on you and the purpose of remodeling. If you are remodeling for resale, it is definitely worth it. Some real estate businesses buy an old home, remodel all of it or some parts of it and then put it on the market for a much higher price.
Remodeling your kitchen for personal use is also very fulfilling and can improve your day-to-day life immensely. Statistics that a large number of people have said their lifestyle became healthier after renovating their kitchen.
Remodeling your kitchen has been proven to greatly improve the value of a home. Always stick within your budget when remodeling and try not to go overboard. If you are remodeling your house for reselling purposes, make sure to engage the services of professional contractors such as The Furniture Phoenix. They are experts in home remodeling services. You can contact them here to get a free quote for your kitchen.