Upgrades and renovations to the kitchen or bathroom can increase your home's value, in more ways than one.
Homeowners often look to remodel and renovate parts of their home for a variety of reasons; they may not like the current design, may need to repair or upgrade areas of the home, or in many cases, they want to give the home a fresh look prior to selling. There are plenty of rooms and spaces to remodel to energize a home, and it can hard to decide which project to put at the top of the list.
The top upgrade project to raise your home’s value is tackling the kitchen, followed by the bathroom. These are the two most highly used areas of the home and are places that buyers often look for bells and whistles, as well as improvements.
Remodeling the Kitchen
Eighty percent of homebuyers rate the kitchen in the top three most important spaces in a home.
Updating the kitchen is like renovating the heart of your home. Kitchens tend to be a place family often gathers, where meals are made and shared, where homework is done, and a place in the home where people come together frequently. Deciding that a space needs a bit of a sprucing up can be both exciting and suddenly a daunting task, so it’s good to have a plan before you jump into anything. Remember to plan ahead, pay close attention to the budget and timeline, and get help from reliable professionals so that your remodeling project doesn’t turn into a remodel nightmare.
Courtesy of MamaShaw via Pixabay
There are a variety of options when it comes to remodeling the kitchen; sometimes, a full remodel is the way to go, and other times, a smaller-scale refresher may do the trick. Looking at the cost of improvements versus the value they add—both in terms of value and comfort—is a good way to whittle down what's important, as far as the remodeling project goes.
Full Kitchen Remodel:
- Home Advisor tells us that the average full kitchen remodel will cost about $25,000—or around $150 per square foot.
- Homeowners will spend anywhere from $75 to $150 per square foot to fully remodel a kitchen, depending on the quality of materials, size of the space, and level of alterations.
- A full remodel will replace almost everything in the kitchen, will often change the layout, and can involve things like new plumbing, electric work, raising ceilings, adding skylights or windows, and more.
- A smaller-scale project, more of a facelift for the room rather than a full overhaul, can mean painting, new flooring, new high-end appliances and cabinetry, countertops, sinks, lighting, adding or taking away an island, adding windows, etc.
- Smaller kitchen renovation projects average between about $10,000 and $15,000, and there are really a lot of ways to make that dollar stretch and feel like you have an entirely new kitchen.
- Custom cabinets can be bought or built, with the latter a bit pricier, new paint, tile, and high-end appliances can transform a once-unremarkable kitchen into a homey family space.
The return on investment (ROI) will depend based on geographical areas and the amount spent on the remodeling project. According to Bankrate.com, the smaller kitchen remodel is the way to go. It's expected that an ROI of about 60 to 80 percent of what is spent on a kitchen remodel project will be recouped when a home is sold.
Buyers will pay more for a home and elements like higher-end finishes, new modern appliances, beautiful designs, and unique features, and many homeowners report a healthier lifestyle after a kitchen remodel. The right upgrades to the kitchen can turn a dreary run-down or just tired and well-used space into a welcoming and bright focal point for the home.
Remodeling the Bathroom
Next to the kitchen, remodeling the bathroom is the best remodel project you can do on a home to raise its value. Build a Bath LLC, a local business out of Highlands Ranch, has years of experience specializing in helping families remodel these spaces.
Courtesy of Build a Bath (Facebook)
Experts in beautiful bathtub-to-shower conversions, custom bathrooms, and custom cabinetry, Build a Bath can take a tiny bathroom space and make it look and feel more spacious by installing large mirrors in bathrooms, disconnecting cabinets from the floor, and matching colors of the wall to tiles and flooring.
Remodeling the kitchen (or bathroom) can raise your home’s value and appeal, so much so that many home sellers often have doubts about selling after the remodel is done. Why sell when the house is finally exactly the way you want it? Either way, looking into that kitchen or bath remodel when the time is right can raise the dollar value of a home, as well as increase the usage of space and bring more luxury and enjoyment into the lives of those who live there.
Have you had a kitchen or bathroom remodeled recently? Let us know any tips to help make the process go smoothly in the comments.