What’s on the top of the list of priorities for new home buyers? A large, beautiful kitchen. When you remodel a kitchen before selling your home, buyers are excited to see the modern improvements you’ve made. But does this translate in terms of your home’s new value?
That will depend on a lot of factors. We cannot say with certainty whether you’ll get a complete return on investment, as this must factor in your local area, the current value of your home, and what improvements you plan to make. However, we can help you ask the right questions to figure out whether a kitchen remodel is a good choice for adding value to your home.
Are Other Parts of Your Home in Need of Work?
You can have the most beautiful kitchen in the neighborhood, but the sale still may not go through as expected if you need new gas piping, a new furnace, or a whole new roof. These necessities should always come first, as potential buyers will not be able to overlook them.
In fact, things like new siding can offer a greater return on investment in the long run. It’s important to weigh the cost, the value, and your home’s unique needs before starting on any given project. Once the necessities are in place though, it may make sense to get that kitchen you’ve always dreamed of.
What’s the Current Value of Your Home?
You don’t want to end up spending more on the remodel than is worth it based on the value of your home. It simply doesn’t pay to put $50,000 into a kitchen in a home that’s only worth about $300,000. The most valuable remodels will cost about 6-10% of the home’s value. If you’re not expecting a high resale, smaller updates may help to boost the value just enough.
What Are You Planning to Do?
Some upgrades are more desirable than others. Although you might love covering the kitchen walls in bright colors in order to display your fiesta ware, this isn’t an upgrade that will always seem appealing to a buyer.
Talk to real estate and remodeling professionals to see what’s trending right now. Go for neutral colors for most of the room, with small splashes of color like a beautiful blue tile backsplash. Pick a couple of features you can show off (like under-cabinet lighting) but don’t splurge on high-end appliances if you don’t plan to stay for long. The ROI won’t be worth it.
How Long Do You Want to Stay?
If you plan on staying in your home for another several years, the return on investment may not be your primary concern! Of course, it’s good to keep this in mind. However, you shouldn’t let the previous ideas stop you from making your house a home. When you’re remodeling for your own use, any upgrade you want the most is the most important! When it comes time to sell the home, you might not get 100% of your return, but it will be worth it for the enjoyment you got from your home in the meantime.
Schedule your consultation for kitchen remodeling in Tarzana, CA with Advanced Builders & Contractors today!