Statistically speaking, remodeling your kitchen is likely to get you a good return on your investment if you decide to sell. However, you may want to keep your renovations small-scale. According to a 2013 cost vs. value report by Remodeling magazine, the average homeowner was able to recoup 75.4% of the money they spent on a minor remodeling efforts–that’s nearly 7% higher than the return on a major full-scale remodel. Still, at a national average of $18,527, even minor Kitchen Remodeling can be a big investment. Below are some smart ways to get the most from your money.
Consider Quartz Counters
Natural stone counters can attract buyers, but you don’t have to spend thousands on imported granite to raise the value of your home. According to real estate agents, quartz is quickly eclipsing granite as the must-have kitchen counter material. This is good news for homeowners remodeling with resale in mind. Depending on the quality, quartz counters can cost $50 to $100 less per square foot than high-end granite.
Think Energy Efficient
If new appliances are part of your Kitchen Remodeling project, consider investing in energy-efficient models. Today’s home buyers are very concerned about the environmental impact and efficiency of home appliances, so environmentally-friendly features in the kitchen can be a big draw. Look for appliances that have received the Energy Star seal of approval.
Invest in Hardwood Floors
Hardwood flooring can raise the value of your home, and it’s not that much more expensive to install than budget alternatives. According to one 2003 survey done in Philadelphia, homeowners who upgraded to hardwood flooring were able to boost their homes resale value by around 6%. At an average cost of just $8.25 per square foot installed, hardwood flooring can be a great investment. Install the flooring yourself, and your cost per square foot will drop to between $4 and $6, according to Fixr.com.
Add Storage Space
Today’s buyers like to see storage space in the kitchen, so consider adding extra cabinetry if yours is sparse. To avoid a cluttered look, take advantage of vertical space by adding floor-to-ceiling cabinets. What kinds of cabinets appeal to buyers? Quality hardwood cabinets in light colors have the best overall appeal, according to real estate agents.
A minor kitchen remodel is one home improvement that can be very cost effective. For help with your remodeling project, contact the experts at Cascella & Sons Construction Corp.