If you are planning to remodel your kitchen in the hopes of increasing the value of your home, there are several things to consider. Generally, there are small kitchen renovations, with some minor upgrades; mid-level kitchen renovations, with larger upgrades but non-luxury finishes; and large kitchen renovations, with almost total overhaul of the space and high-end finishes.
It is known that mid-level renovations net the most return on investment, given that you are upgrading without going overboard on fancy finishes. However, what things should you focus on upgrading and what projects will help you get the best return possible? If you are hoping to get the best return on your investment, plan a mid-range remodel, and focus on these areas of the kitchen:
If you are hoping to sell your home now or in the future, and looking for remodel ideas for your kitchen, consider new appliances. Buyers will be on the lookout for new appliances, and this upgrade is known as a remodel that nets a great return. Buyers will be immediately turned off by outdated appliances and will factor the price of having to buy their own new appliances into their offer for the home.
This is not to say that you need to purchase the latest and greatest (and most expensive) appliances as you remodel your kitchen. However, modern appliances from reliable companies will definitely increase the value of your kitchen.
Another area of your kitchen remodel that will net a good return is countertops. Updated countertops definitely make a difference in the look and feel of your kitchen. Granite countertops, in particular, are very popular and what buyers may be specifically looking for. Though it may have seemed like granite countertops were a passing trend, the trend has stuck around, and people still say that granite countertops are a “must have” when looking at homes.
Granite is definitely not the cheapest option, so you will have to invest a little more in this aspect of the kitchen remodel. Though you are hoping for the greatest return on your investment and may be tempted to go with the cheapest option, based on what buyers want, this may be the area of your remodel to splurge on, and you can explore home improvement financing if needed.
There are so many affordable flooring options that can upgrade the whole look and feel of your kitchen. For minimal investment, you can find a quality flooring product that can give your kitchen a modern, updated look.
This is a great remodel for return on investment because you have so many options when it comes to materials, design, color, and price point. Some flooring options are also so easy to install that you may be able to install it yourself and save the money you would have spent on installation.
There are many options for upgrades in your kitchen, but if your goal is return on investment, these three are great first options to consider. If you want to go a little further, you may consider re-staining or painting your cabinets or even replacing your kitchen sink. There are so many possibilities when it comes to remodeling your kitchen for great ROI.