A kitchen remodel in Pinellas county, no matter the scale, is advantageous both for your present and your future. Generally, many are unsure whether such a project is the right move for them. However, it need not be a complete tear-down as sometimes small alterations provide larger paybacks than grand renovations.
Most importantly, no matter what type of kitchen remodel you decide on you’re adding value to your home every time. This can mean from a high-scale flip to simple mid-range alterations. In other words, remodeling your kitchen or even your bathroom is a valuable investment that will only serve you and your family in the long run.
Why Increasing Home Value Matters
The kitchen tends to be the heart, the epicenter, of almost every home. It’s where meals are eaten, loved ones gather, and in many instances where precious memories are made. Consequently, potential Pinellas county homebuyers are willing to spend more money on a house with a newly renovated kitchen than one without.
According to certain kitchen remodeling companies & real estate experts kitchen upgrades, especially those that are full-scale remodels, fall second and third in the list of different types of renovations that increase home value. In addition, 80% of homebuyers put the kitchen within their top three most important rooms when considering their future house.
Furthermore, 69% of homebuyers say they would pay more for new appliances and 55% say they would pay more for granite countertops. In other words, moving forward with a kitchen remodel will make your home stand out among others to potential homebuyers. Consequently, if decide to put your house on the market it will sell quicker and for a larger price.
How Much Does A Kitchen Remodel Increase Home Value?
How much your home’s value increases after a kitchen renovation depends on its initial worth and the amount spent for alterations. In this scenario, the percentage of money spent on the renovation regained after a sale is the home value increase. This is also known as the ROI or return on investment.
According to Better Homes and Gardens, most see about a 52% return on their investment. However, for a more exact number, other components must be factored in. This includes the quality or depth of the project. For instance, Moving.com states that full-fledged upscale renovations see about a 53.9% return.
On the other hand, major remodels with mid-range fixtures have a 58.6% return while small alterations with mid-range fixtures result in a 77.6% return. In other words, if you’re able to spend less money but end with the same desired results your ROI and home value increase will be greater.
Other Types Of Home Value Increased By A Kitchen Remodel
In addition, it’s important to keep in mind that there’s more to the value of your home than simply ROI numbers. The length of time your family will be living in the space is just as cardinal as the numbers if not more.
It’s crucial that your kitchen is a space that works for you and your loved ones as it’s where most of the time in your home is spent. Tailor any alterations you embark on to your family but also have the ability to appeal to potential homebuyers. This not only increases your home’s monetary value but its emotional and aesthetic value as well.
