Kitchen renovation in affecting home value

A potential buyer has a very keen interest in the kitchen space that makes it the best place to install any stylish showpiece in your home. Three are various factors influencing a kitchen renovation. Some people do it to change their dull old fashioned space, and others want to have a high return on investment while selling the property. The average return on investment for a high-scale kitchen remodeling is approximately fifty-four percent, whereas a low-budget project can fetch up to eighty-one percent. Moreover, the return can increase further depending upon the location of the property. So, it is evident that a kitchen refurbishment is directly proportional to the value of the property.

Tips for budget

An essential step for a successful kitchen remodeling is the budget. You need to plan on every detail beforehand to be on the right track during the project. The segregation of your total budget according to your requirement is of prime significance. It is wise to spend a major part of your money on those things that do not need replacement frequently. It may include appliances and the installation of cabinets and counter-tops. It becomes very difficult to recover the investment if you spend the money on over-the-top things. The common thing about a remodeling project is it includes unexpected expenses. So, it will be wise on your part to keep ten to fifteen percent of the total budget aside to meet any contingency.

Saving money

It is possible to save money on kitchen remodeling by avoiding unnecessary replacement of equipment. Painting or refinishing your cabinets can give a completely new look to your kitchen instead of replacing them. You can consider re-facing if the faces of the cabinets are outdated. The crux of the point is, re-facing maybe expensive than painting but cheaper than replacement. This policy can be beneficial while dealing with kitchen appliances that are still functional. Choosing vinyl flooring over real hardwood is an effective way of saving money as it resembles the look of a modern, up-to-date house. So, upgrading your kitchen surely gives a boost to the valuation of your home.

Jackson Lee

Ryder Jackson Lee: Ryder, a property manager, offers advice on managing rental properties, landlord tips, and insights on the rental market.

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