Do you want to sell your home in the next few years? If so, you will want to consider what upgrades your house needs, to get the best selling price.
According to experts, the average return on investment (ROI) of a minor kitchen remodeling is 77 percent in 2020. Although a little less return than in previous years, this type of upgrade is still worth the expense.
Perhaps you are staying in your home, but you’d like to give yourself the gift of a new space for preparing and sharing meals.
In either scenario, here’s how to add value to your home with a kitchen remodeling.
You don’t need to spend a fortune when upgrading your kitchen. If you want to make some smaller changes that can have a big impact, try some of these ideas:
A new coat of paint on the walls and even the ceiling can change the character of a room. Popular wall paint color palettes for 2020 include warm, subdued, farm-house colors that are less bold.
Don’t assume your kitchen ceiling needs to be white. While white is still a good choice, try a contrasting color on your ceiling. Sometimes known as the “fifth wall,” your ceiling and its color can give more depth to a room, or can make a room seem bigger.
Another paint idea: if your cabinets are in good shape, consider painting them instead of replacing them. The trend today is toward white or blue/grey shades for cabinet colors.
Look for modern, but inexpensive light fixtures that you can add over an island or a sink. Under-cabinet lighting helps you see your counters better and adds ambiance.
If you have an old ceiling fan/light fixture, look for a more modern version with LED or eco-friendly bulbs, to save energy as well as update your look.
Adding new hardware and pulls to the cabinets is also easy and cheap to do, and can add a vintage or modern look with little effort. Decorated outlet plates can be added to all your outlets for a creative touch.
Minor Kitchen Remodeling
If your kitchen needs more than a few cosmetic changes, then you want to pursue a minor kitchen remodel. This kind of plan assumes that you will keep the basic footprint of the kitchen, and many of the items within it.
One example of a minor kitchen remodeling is the replacement of current appliances with updated, finish-coordinated appliances. While stainless steel is the popular choice for kitchen appliances, white and black are still viable choices. Be aware that some retailers offer a discount when you bundle your appliances into one purchase.
Hardwood flooring, or laminate flooring made to look like hardwood, is the latest trend in kitchen floors. There is even a vinyl flooring made to mimic hardwood, which would be less costly. Other options are ceramic tile, natural stone, or porcelain.
Another idea for a minor refresh in a kitchen is a new backsplash. This one addition alone can spruce up an old kitchen. Backsplashes can be made of just about any material in any color, but make sure you keep the same basic style as your other upgrades.
Major Kitchen Remodeling
If you are fortunate enough to have a higher budget for remodeling, you can go with a complete kitchen overhaul. This can include demolition, or the complete gutting of your kitchen to make room for the new. A major renovation includes the items listed above, plus the following:
- Cabinet Replacement: this is often the impetus for a major kitchen renovation. Work with a kitchen contractor that can install the cabinets, especially if you are changing their placement and size. Coordinate the texture and color of your cabinets with your paint and floor plan, and remember to include drawers, pantries, cleaning closets, or whatever other storage spaces meet your needs.
- Countertop Replacement: Laminate countertops have always been the least expensive choice, but today’s top trends in counters include quartz, granite, and marble, as these surfaces are durable, scratch-resistant, and easy to clean. Include the kitchen sink in your countertop plans, the latest trend being the deeper, farmhouse-style sink in any finish.
- Island Addition /Breakfast Bar: Adding an island in the middle of your new kitchen, or a breakfast bar with seating is another major item that adds a lot of value in terms of storage and counter space. These can be simple countertops or much more elaborate with sink and stoves included.
These are just some of the items you can upgrade when money is no object. You should set your budget before you start drawing up plans or working with a contractor so that you are aware of what you can and can’t do, and be willing to be slightly flexible within that budget.
Which Kitchen Remodeling Offers the Highest Return?
Most realtors agree that the best ROI comes from a minor kitchen remodeling, with the average cost at about $23,452 and the average resale value at $18,206.
However, there is another sort of ROI, and that is often referred to as the “Joy Score.” This score, introduced by the National Association of Realtors in 2017, measures value by determining which home renovations make people the happiest. Using a scale of 1 to 10, a higher Joy Score indicates greater joy from the project.
Individual interior renovation projects reporting high “Joy Scores” included:
• Kitchen renovations: 10
• Bathroom renovations: 9.6
• Kitchen upgrades: 9.2
The joy or happiness you get from your renovation is determined by what you dream your room can be, and the satisfaction you derive from realizing that dream. If you are planning to stay in your home, this factor may be more important than a monetary return on your renovation.
Start Planning Your Kitchen Remodeling
If you’re ready to get started with any kind of kitchen remodeling, begin by researching local reputable contractors, asking friends and family for recommendations.
If you are in the greater Omaha area, contact us for a free estimate for your project. We are a family-owned business that uses our employees for all projects. We can help you realize all your home remodeling dreams!