Does a Kitchen Renovation Increase Home Value?

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Does a Kitchen Renovation Increase Home Value?

kitchen renovation

If you want to increase your home’s value and functionality, then undergoing a complete kitchen renovation is one of your best options. Why? Well, the kitchen is considered the heart of every modern home.

Additionally, if you’re planning on listing your property in the market, then refinishing your kitchen will attract plenty of buyers, who are very willing to pay the right price. 43% of homeowners are tired of viewing their old kitchen. If you find yourself in that percentage, then this read will answer your questions about the various ways a full kitchen remodel can spruce up your property’s resale value.

Continue reading to widen your perspective on the kitchen while also discovering some tricks in achieving your dream kitchen without breaking the bank.

What’s The Expected Budget for Remodeling Your Kitchen?

Doing your home kitchen remodeling yourself can either be cheap or heavy on your pockets, especially when you want custom cabinets and countertops. If you want to save on costs, then you need to embrace cheaper alternatives and do some of the more menial tasks yourself – like painting or demo.

So how much do homeowners spend recreating their kitchen? The budget range for this life-changing project is between $4,500 to $60,000+, where the national average is $25,500. If we put that on per square foot pricing, then it falls between $75 to $250.

Furthermore, our contractors at the USA Cabinet Store are well-trained and experienced in this field, so we can guarantee your project at a reasonable price. If you need a free quote and design for your future kitchen, then please call us today.

Will Your Kitchen Remodel Increase Resale Value?

Well, if you’re undertaking a modern kitchen remodel to list your property in the market then you’re making a strategic decision, since buyers are more willing to purchase when they see functional improvements in the property.

Alongside this, 80% of buyers in the market consider a newly finished kitchen as one of their influencing factors of selecting and valuing a property. 

So far, the industry’s standard ROI for mid-range kitchen makeover falls between 50% to 60% of your overall budget for remodeling. For instance, if you spent $69,000 redoing your kitchen, then you can expect to recoup around $34,500 to $41,400. 

Meanwhile, if you opt for a smaller kitchen upgrade, then your estimated ROI is 75% to 80%. For instance, if you spent around $24,000, then your recoup is between $16,800 to $19,200.

Also, your location will affect the expected ROI on your kitchen upgrades. For instance, if you’re living in the Pacific region, then your expected recoup is 93%, while the national average hits at 68%.

How About the Joy Score of a Kitchen Remodel?

Besides looking at the financial impact of your affordable kitchen renovations, you can never undermine the happiness your prospective clients will receive from seeing your newly remodeled kitchen. 

On a scale from one to ten, the joy score of most homeowners, remodelers, and prospective buyers from a newly finished kitchen is at a steady 10. This means that they are very satisfied. Lastly, a well-built kitchen means more efficient food preparation and a comfortable area to spend time with family and guests.

What Are the Important Kitchen Updates that Add Home Value?

If you’re planning to perform fast kitchen remodeling by yourself, then you need to know which must be prioritized, so you’re not shooting arrows in the dark. Alongside this, your small budget will be used efficiently in elevating the function and aesthetics of your small kitchen.

1) Cabinet Refacing and Refinishing

Instead of spending thousands of dollars installing new wall-hung and base kitchen cabinets, just reface and update the hardware and final finish of your cabinets. If you push through with new cabinet installs, then your possible budget is $5,000 to $7,000, or 29% of your overall kitchen remodel budget.

Meanwhile, if you just reface and refinish your cabinets, your estimated cost will just be 10% to 15% of the price of your new cabinets.

2) Update Your Kitchen Countertops

Don’t be tempted to directly install granite or quartz slab kitchen countertops. These are pricey choices. Instead, go for cheaper materials like laminates, granite remnants, tiles, or Formica since it will still give you a stunning look.

Likewise, you can opt for low-quality stone slabs or porcelain for your kitchen countertops.

3) Modern Tile Backsplash

Installing a new tile backsplash with geometric designs and exciting color palettes would complement your newly refaced cabinets and kitchen counters.

If you want to achieve a streamlined appeal in your small kitchen, then we can install similar color tones with your countertop to have a seamless transition. Moreover, the labor cost for tile backsplash installation is much more minimal than the other elements included in your remodeling.

4) Invest in New Kitchen Appliances

Around 69% of the buyers in the market would pay more if they saw new appliances in your modern kitchen remodel. By installing new double ovens, four-burner gas range, fridge, and other appliances, you are improving kitchen functionality and helping your client realize their vision for their next future kitchen.

Also, you can search for stores that are offering discounted prices for their kitchen appliances, in order to save more.

5) Don’t Forget About Kitchen Light Fixtures

Similar to tile backsplash, you cannot undermine the impact of having good lighting inside your kitchen. Consequently, when you have excellent lighting, you are emphasizing the texture and colors of your kitchen elements and fixtures.

With that, we can install hanging ceiling lights, recessed lighting, and lights underneath your cabinets. Overall, the cost of installing light fixtures in your kitchen should only be 5% of your kitchen remodel total budget. 

6) New Kitchen Sink and Faucet

Getting a new sink counter and faucet is highly important since it’s very noticeable for the viewers and possible buyers. Moreover, it’s one of the high-traffic areas inside your kitchen, so you need to upgrade its beauty and functionality for long-term savings.

So far, the average cost of installing a new kitchen sink and faucet (material + labor) is around $390 to $2,000, depending on the size, type, and additional features. Our team can professionally install various sink types such as bar sinks, self-rimming sinks, under-mounts, or apron-style sink counters.

Additionally, we are going to choose the right finish and style to best match with your cabinets, backsplash, and kitchen countertops.

Get A Free Design and Consultation

We hope you enjoyed reading this article and that you gained plenty of insights regarding the topic. If you still haven’t found a reliable kitchen remodeling service, then you may turn to us here at the USA Cabinet Store.

We have extensive, world-class experience completing kitchen remodels. Additionally, we have highly qualified kitchen designers and contractors on standby to achieve your luxurious kitchen remodeling dreams. Lastly, you can utilize our free design and consultation services by calling our office today.

It is our mission to help you materialize your dream kitchen for a reasonable price. Don’t hesitate to contact us today or check us on Instagram anytime.