When a potential home buyer walks into a house they are thinking about buying, the very first place that they want to see is typically the kitchen. The story is not much different when people view images of homes online. An improved kitchen can make or break a deal. The master suite is not far behind in the emotional pull it has on buyers.
In modern homes and the prevalence of open floor plans that buyers love, the kitchen is a central aspect of the home. Plus, everyone in the home will enjoy the kitchen.
However, spending thousands of dollars on a full kitchen remodel before listing your home for sale may not provide the return on investment that you may expect. It is very unlikely that you will see a 100% or greater return on your investment if you foot the bill for a full kitchen remodel, unless your home is highly antiquated, malfunctioning, or damaged. On the other hand, giving your kitchen a minor facelift may provide a sufficient return on investment for a kitchen remodel and at the same time may provide you the sweetener you need to stand toe to toe with competing properties when you decide to sell.
Minor Kitchen Remodel vs Major Kitchen Remodel in Atlanta
Remodeling Magazine has grouped kitchen remodels into two major categories: major kitchen remodels and minor kitchen remodels.
In a minor kitchen remodel, the kitchen is functional but outdated. In a remodel of his nature, the appliances may be replaced with updated energy-efficient models, cabinets resurfaced, or replaced with modern favorites such as shaker cabinet styles. In the addition, the counter and floors may get updated as well.
On the other hand, a major kitchen remodel may involve a full overall of the kitchen. This may include removing walls, moving the kitchen around entirely, installing custom appliances, top-tier sinks, faucets, pot fillers, a showpiece island with a waterfall edge countertop, and so forth. A major kitchen overall can get very expensive.
Minor Kitchen Remodel Return on Investment in Atlanta
- ROI: 72%
- Average cost: $26,055
- Return: $18,752
Major Kitchen Remodel Return on Investment in Atlanta
- ROI: 55.8%
- Average cost: $147,439
- Return: $82,342
A full renovation may not be feasible for every homeowner or seller. What is more important is that your update meets your needs. In addition, if you are planning on selling your home in the near future, you want to make sure that your updates meet the needs of the market when you decide to list-future proofing your home.
Does painting kitchen cabinets increase home value?
Definitely. A fresh coat of paint is a great way to add value to your home. Kitchen cabinets tend to get used a lot and a fresh coat of paint will spruce them without breaking the bank. YOu could simply resurface the cabinets and apply a nice coat of paint
Do high-end appliances increase home value?
High-end appliances will add value to the right home. If the home is an entry-level home, adding top-of-the-line stainless steel appliances or designer appliances may not add much in terms of value to your home. Instead, check out the housing market in your area and look at the types of kitchens that buyers are loving.
How much should you spend on a kitchen remodel?
You should spend money on your kitchen that you are comfortable spending. To determine how much to spend on a kitchen remodel, look at the current value of your home and your equity situation in the home. In addition, think about how long you may keep your home before selling it and what will make you happy. At the end of the day, you do not want to spend more on your home than what it is worth unless that is not a concern to you.
Is remodeling a kitchen worth it?
Remodeling a kitchen is definitely worth it and will help to make the home more of a destination for the entire family. A Remodeled kitchen is among the top ten renovations that can be done on a home and provide a good return on investment for sellers.
What are the best kitchen updates for resale?
Among the best updates that add value to a kitchen are a freshly painted kitchen, updated appliances, updated countertops, cabinets (and pulls), and excellent lighting. These updates can be had without breaking the bank, especially if you add some elbow grease.