One of the best ways to increase the value of your home is to remodel your kitchen. Whether you are looking to sell your home, or you want to refinance your mortgage, upgrading your kitchen is generally a wise investment.
With Kitchen Upgrades, Aim for the Middle of the Road
While a new kitchen will increase the value of your home, you will not see a return on your investment if you go for all luxury appliances and upgrades. Although potential buyers love to see that a kitchen has been remodeled to keep up with modern times, putting in high-end fixtures is going to cost you more money than you will get back in the long run. If you are upgrading for your own enjoyment and not looking to get your money back, then buy what you want to build your dream kitchen.
A Newer Home Won't Increase in Value as Much as an Older Home with a Kitchen Remodel
Although a kitchen remodel generally makes your house worth more, proceed with caution if your home is only a few years old. If your home is from the 1970s and has shag carpet in the kitchen, you will recover most of your money if you upgrade and get rid of the rug. If the home is less than five years old, a kitchen overhaul doesn't really make sense if you want to resell the home. You may not like the kitchen, but in a home less than five years old the appliances should all be in excellent working order. If you must change the kitchen because you hate it, understand that the value isn't going to increase significantly if your home is new.
Adding Value Vs. Adding Appeal
There is a different between adding value to your kitchen vs. adding appeal. While adding more space to your kitchen is a proven way to add monetary value, using beautiful wood for cabinets may only add to the appeal. It all depends on your neighborhood, how much your house is already worth, and what buyers are willing to pay for the upgrades you have done. If you aren't selling your home, adding appeal may be your biggest motivation. You want your home to look great, and adding those granite counter tops are a sure way to increase the appeal of your kitchen. If you are selling, granite counter tops may cost you more than you will get back for your investment. It's all about finding the balance between adding value to your home vs. adding appeal.
If you are looking to upgrade your kitchen today, call a professional in your area like Albrecht & Son LLC to talk about all the exciting plans you have for your new space.Share
23 September 2014
When I made the decision to sell my house, I knew that some things would need to be repaired first. Along with some work inside, the yard and the driveway needed attention. That meant some serious decisions to make. After reworking the landscaping, I had to evaluate different materials for the new driveway. Eventually, I decided that an asphalt driveway offered the right mix of durability and appearance for my property. When it was in place, I could not believe the difference that it made. If you plan on selling your home in the next few years, let me share what I did to make it more appealing to buyers. Following the tips will allow you to attract more attention, and ultimately lock in a better price for your property.