Investing in Your Home: The Kitchen Renovation
Renovators Place Columnist
Oct 08, 2009
Your home can be an important investment. If you're wondering where to put your hard earned money, look no further than the kitchen. Here's how a kitchen renovation can increase your home's value.
Why a Kitchen Renovation?
When shopping for a home, most people start in the kitchen. It's the most important room from a functionality and design standpoint. If you plan to sell within 3 to 5 years, focus on a small kitchen renovation that updates a few main areas, such as the cabinets and the countertop. If you plan to stay for 7 to 10 years, you may want to add in appliances and some new tile.
Kitchen Cabinet Options
Kitchen cabinets are the most visible items in the kitchen and can make a stunning first impression or turn off potential buyers. Options include replacing or refacing the cabinets. If your cabinets are worn and are not well constructed, then replacing them might be the best option. This gives you a solid framework to update the rest of your kitchen.
If your cabinets are sturdy, but worn or outdated, cabinet refacing can be a great option. The cost ($3,000 to $5,000, on average) is cheaper than buying new ($6,000 to $15,000 or more, including contractor installation fees). Talk with a few kitchen contractors for estimates for both options.
Appliances and More
If your appliances are more than 10 years old, they probably lack all the current, hi-tech features and style of today's appliances. The cost to buy new appliances ranges from $2,000 to $5,000 or more, depending on how fancy you get.
Now that you have a plan for the main areas, look around at your flooring and wall tile. Are they neutral and attractive enough to please a wide range of potential buyers? By updating your kitchen, you've gone a long way toward increasing your home's value and the best part is you'll get to enjoy it until you sell.
Why a Kitchen Renovation?
When shopping for a home, most people start in the kitchen. It's the most important room from a functionality and design standpoint. If you plan to sell within 3 to 5 years, focus on a small kitchen renovation that updates a few main areas, such as the cabinets and the countertop. If you plan to stay for 7 to 10 years, you may want to add in appliances and some new tile.
Kitchen Cabinet Options
Kitchen cabinets are the most visible items in the kitchen and can make a stunning first impression or turn off potential buyers. Options include replacing or refacing the cabinets. If your cabinets are worn and are not well constructed, then replacing them might be the best option. This gives you a solid framework to update the rest of your kitchen.
If your cabinets are sturdy, but worn or outdated, cabinet refacing can be a great option. The cost ($3,000 to $5,000, on average) is cheaper than buying new ($6,000 to $15,000 or more, including contractor installation fees). Talk with a few kitchen contractors for estimates for both options.
Appliances and More
If your appliances are more than 10 years old, they probably lack all the current, hi-tech features and style of today's appliances. The cost to buy new appliances ranges from $2,000 to $5,000 or more, depending on how fancy you get.
Now that you have a plan for the main areas, look around at your flooring and wall tile. Are they neutral and attractive enough to please a wide range of potential buyers? By updating your kitchen, you've gone a long way toward increasing your home's value and the best part is you'll get to enjoy it until you sell.
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