In our previous post, we discussed which bathroom updates added value to your home. Now let’s look at kitchen updates and remodels.
According to the latest National Association of Realtors Impact Report, updating or remodeling a kitchen is the interior renovation that increases the value of your home the most and has one of the highest cost recovery return rates (52% to 59%). But unlike bathrooms – where buyers and homeowners look for specific upgrades like luxury amenities, safety features, or convenience items (i.e., double sinks) – the top two reasons people take on a kitchen remodel is to “upgrade worn-out surfaces, finishes, and materials” (24%) and to “customize the space to personal tastes, needs, and style” (20%).
Upgrades
40% of realtors have suggested sellers upgrade their kitchen before attempting to sell their home and 20% of realtors said kitchen upgrades helped close a sale. So, if you are looking to sell, upgrading hardware, fixtures, cabinets and drawers, countertops, lighting, flooring, or other dated or worn-out items can significantly increase your chances of selling as well as recover around 52% of its cost.
Yardley kitchen remodel: before and after
Complete Kitchen Remodel
If you are not looking to sell in the near future or if you just moved into a new-to-you home, a complete kitchen renovation, according to the NAS Report, adds the most personal value – a perfect 10/10 on their “Joy Score” and reports a whopping 95% of homeowners stating that they feel an increased sense enjoyment with their kitchen’s functionality and livability. A full renovation also recovers 59% of its costs upon resale.
Value
Whether you invest in a full kitchen remodel, or a basic kitchen upgrade mostly depends on if you are staying in your home or selling. Either way, it will increase both the personal value and the resale value of your home and is worth consideration at any stage of homeownership.
To explore all your kitchen upgrade or renovation options, contact the kitchen remodelers at LBK Design. Our designers are second to none and they’re ready to provide you with the kitchen of your dreams. Contact us today.
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Tired of your outdated and disorganized home? Schedule a consultation with Nick to discuss your remodeling ideas and how our simple remodeling process can give you a home you love!