As people are spending the funds they might usually be spending on traveling, many people are looking to upgrade their kitchens to get the dream kitchen they always wanted. While investing in your kitchen is always a great idea, if you want to be sure to get an ROI from your kitchen when you sell, here is the top return on investment for kitchens.
Most popular upgrades to kitchens
There are quite a few options when it comes to upgrading your kitchen. Here are the most popular kitchen upgrades currently:
- Large kitchen islands
- Quartz countertops
- Wall-to-wall cabinetry
- Multi-level islands
- Energy-efficient lighting and appliances
- Local sources upgrades
- Fashion faucets
Of course, many homeowners who have a more dated kitchen may not only be looking to upgrade the style of their kitchen but the appliances as well. Energy-efficient appliances are in abundance for kitchens, and you don’t have to sacrifice style for efficiency. For those with small budgets, even a simple coat of paint on the walls (or even the cabinets!) could do the trick, as can adding or swapping out the existing cabinet and drawer hardware. Small kitchen renovations can make a big impact!
Kitchen upgrades most likely to offer the best return on investment
An upgraded kitchen is definitely a feature that home buyers look for. As a matter of fact, 58% of buyers who purchased in the last 12 months said having their preferred style of kitchen was extremely or very important to their home-buying decision. While you may not recoup 100% of your remodeling cost, it’s one of the smartest upgrades you can do to your home for resale value. Modern, energy-efficient appliances are always high on the list. Not only do they make a kitchen appear more modern, but they’ll also actually save the homeowner (and prospective buyer down the road) money because of increased energy efficiency. Keep in mind the neighborhood you’re in. It may not make sense for the typical resale value of your house, as an example, to put in a new Viking stove.
Two upgrades that consistently return a decent ROI are cabinets and countertops. According to one study, 69% of those surveyed said they would have paid more for new appliances and 55% said they would have paid more for granite counters. Like appliances, you’ll get the best ROI if you go for good quality while keeping in mind the average home value of your neighborhood.
Stay away from trendy, over-the-top upgrades
If you know that you’ll be selling your home in the next 6 to 12 months, it may not be a good idea to go for over-the-top upgrades that you can’t truly enjoy, and the next homeowner may not find value in. High-end faucets, trendy colored appliances or expensive countertop materials may cost you much more than you’ll get in return when you sell the home. Of course, if you plan on being in the home awhile, build your dream home however it will please you! If you’re not sure what the right balance is, work with an experienced kitchen renovation professional like Arizona Interior Innovations who can help you decide.
The best return is being able to enjoy your kitchen
Kitchen renovations, even the most basic ones, can be a bit intrusive. While there are many great tips for living through a home renovation project, try to do renovations that you as the homeowner will be able to enjoy for a few years. A fresh coat of paint and new hardware might be a quick spruce up for a pending home sale, but if you invest in new cabinets, countertops, or appliances, it’s nice to enjoy those wonderful upgrades for a few years while you’re still in the home!