Kitchen Renovations that Yield a Return on Investment
Though the home you bought years ago has served you well, the time may have come to move on to greener pastures. Unfortunately, after ten, fifteen, maybe even twenty years, the age of certain amenities may have become a little too apparent. In this economy, selling for a fair price often calls for some fixes, but in what areas should you focus? Whether you plan to move within months, or you simply want to prepare for that possibility, the kitchen is the best place to start tweaking, and Kitchen Solvers is here to inform you of four great kitchen renovations that yield a return on investment.
Typically the first aspect of your kitchen a prospective buyer will notice is the cabinetry, which is why it is vital that you give them a good deal of attention. Several tasks lie before you, including finding the right material and maximizing or upgrading existing storage space. As concerns materials, there are many less costly ones to choose from, such as metal, laminates or even glass. However, hardwood is, in most cases, still considered a classier touch.
Alternatively, you could reface your cabinetry for a more affordable solution. Rather than ripping out your old cabinets (and possibly your hair once you see the bill), you could just call in the professionals to replace the fronts of the cabinets and veneer the boxes. This technique is called “refacing,” and can be much more cost-effective than installing brand new custom cabinetry, while still adding new life into your space. The same process can be applied to the faces of your drawers. Just remember that refacing is not a DIY kind of job. By the way, speaking of space, outfitting your cabinets with lazy Susan’s can be quite helpful.
Often, the biggest headache you will face when dealing with countertops is choosing the right material. After all, there are so many options, including stone, concrete, marble, stainless steel, butcher block and so on. Countertops will usually absorb the second largest piece of your budget because of the importance homebuyers place in them. Though Formica and laminate tend to be less costly, they also add less value to the home, whereas more expensive granite, quartz and Corian are also both more durable and desirable.
Note that prices can vary greatly regardless of the material used, but you should always remember that the returns on countertops are more than worth the investment.
Investing in quality kitchen appliances can yield value on two fronts. First, your stove or refrigerator will last you a long time. Second, homebuyers will be attracted to the stainless steel marvels efficiently occupying the space. You might also consider investing in Energy Star certified appliances as these will save money for you and the future owner of the home. Facing a lower utility bill every month is a perk that is sure to prove alluring to prospective buyers.
Electric and Plumbing
Up to 20 percent of your budget should be set aside for unexpected costs, like old electrical wiring needing to be replaced, or antiquated plumbing that, at the wrong touch, could hemorrhage grungy water. While keeping the plumbing intact can drastically reduce the price tag, the gutting of your old kitchen is the perfect time to replace old pipes. The same goes for those wires. Completing these tasks piecemeal will only cost you more in the end.
Finding ways to up the resale value of your home can be tricky, but with the right advice and help you can get great results. For more information about kitchen renovations that yield a return on investment, visit our Kitchen Solvers services page.Back