Kitchen remodeling is one of the few improvements you can do to your house, earning around 83% return of investment. It means that for every $100 spent on kitchen upgrades, your home will increase for up to $83 on the average value. This kind of investment yields better results than making other home improvements like bathroom remodels, roof replacement, etc.
Upgrading your kitchen can reap tons of benefits. Aside from getting a higher home value, you can drive up your home’s value when it comes to a selling point. Is there a better way to be a happier homeowner than by upgrading your castle?
Choosing Whether to Make Major or Minor Changes
Before considering a kitchen remodeling, think about whether making major or minor upgradings. What is the difference between the two? Asking a kitchen remodeling contractor can help you out with this dilemma.
Major kitchen remodeling involves spending a lot of money to upgrade your kitchen on a bigger scale. This kind of renovation is personally satisfying, but the amount of money you’re about to invest in significant kitchen renovations would not strictly amount to the value increase your home will gain. Major kitchen remodeling is mostly for personal satisfaction rather than for financial reasons.
Minor kitchen remodels, on the other hand, are small-scale upgrades that require significantly less money than doing a major one. Compared to significant overhauls, which may cost up to six-digits, minor kitchen renovations only costs around $20,000.
Explore The Possibilities Your Neighborhood Can Give
Know your neighborhood first. Check for some real estate experts near you and ask how much your home will increase once a kitchen renovation gets done. Asking real estate agents will significantly assist you in determining how much your ROI is after applying some changes in your kitchen.
Do not fall for over-remodeling, though. Remodeling the kitchen is good, but make sure that you pay equal attention to the other parts of the house. Investing solely on one part of the house doesn’t increase the value of a home significantly, that’s why you need to be extra careful.
Some Minor Home Upgrades That Will Yield Major ROI
Remodeling your kitchen is excellent, but if you’re eyeing a good return of investment, consider the following:
Sure, kitchen remodeling, whether major or minor, can give you a significant amount of ROI. But if you’re looking for higher return investments, try improving other parts of the house aside from the kitchen.