Q: What is the typical home value increase that results from a kitchen remodel?
I often hear that remodeling your kitchen is the number one thing you can do to add value to your house. What's the typical or average percentage (or even dollar) increase created by remodeling a kitchen? Thank you.
A: Kitchen remodel Return on Investment
This is called your return on investment in the real estate industry. Depending on the type of remodel ( budget vs luxury,) your return could be as high as 100%. For more information you visit http/LongIslandKitchenandBath.com there are articles on the same subject under kitchen tips
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A: Big bang for your buck
The return on kitchen remodeling is one of the highest returns possible in the remodeling field. Typically, you can expect to recover 75-90% of the dollar amount you invest in a kitchen remodel in additional home value. This is assuming the existing kitchen is old or damaged and the new kitchen is slightly custom, or at least above "big box" store kit kitchens. In the San Diego area we see an average return of 78%. If you are handy and can do tile and paint, your return would be closer to the 90% side of that scale. Good luck, and if need any other advice, do not hesitate to ask.
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A: Do it Right and expect a big return!
What you want to do it a quality job, and be sure not to just replace the existing cabinetry and countertops with new materials. Make sure you are truly doing an upgrade. Many homeowners can spot cheaply made cabinetry. Especially lately, there has been a large market for eastern imported cabinetry which is of the absolute worst quality wood, hardware and construction that is on the market, including some of the pre-fabricated granite.
Be sure that you match the design style of the kitchen upgrades to the style of the home, use colors that are neutral, but also make a statement (being too safe in your color choices can also be a drawback), be sure to include a few focal points (a nice hood, backsplash, glass cabinet doors, an accent island color or unique hardware). Also be sure to use contemporary materials, avoid using red oak or pine cabinetry and the common granite colors that you see in every spec home, and by all means don't use brass hardware.
Also think about layout. Many families are searching for homes that have open plans to accommodate a more casual living style. If you can knock out a non-weight bearing wall to open the kitchen to the living room, expect a larger return, and a quicker sale.
If you follow these tips and plan carefully, you should expect to get 75-100% return.
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