How Can a Kitchen Remodel Increase the Value of Your Home?

For many of us, our homes are our biggest and most important investment.  It’s not only the place we rest our heads and hold our most precious moments, but it’s also a financial decision that we hope will pay dividends in the future.  Home values are affected by all sorts of different things, from buyer demand to the quality of nearby schools.  And unfortunately, many of these factors are far beyond our control as homeowners.  There are some things we can do, however, to boost our home’s value, and the most significant of these is a kitchen remodel.

Let’s be honest, though.  Major kitchen remodels are expensive.  Most people don’t have the extra cash necessary to complete it, and the thought of taking out a home improvement loan can be a terrifying prospect.  However, for houses located in a seller’s market where a fast sale is expected, upgrading the kitchen can earn a fantastic return on investment.  In fact, The National Association of Realtors stated that the best interior project to increase a home’s value is a well-designed kitchen remodel.

It’s important to examine all the details of your area’s real estate market, as well as the projected return on your investment.  Generally speaking, though, you can expect that an updated kitchen will give a nice boost to the value of your home.  Realtor.com tells us that 80% of homebuyers rate the kitchen as one of the three most important areas they look at in a new home.  If they aren’t impressed by the kitchen, then chances are, they’ll feel underwhelmed by the entire house.  Just remember, most buyers are willing to shell out a few extra bucks for new appliances and high-end finishes.  So if the market is in your favor, why not look into giving your kitchen a makeover?

What if you’re not planning to sell your home?  Can you still gain value from a kitchen remodel?  You bet your Bundt cake, you can!  We spend so much of our day-to-day lives in our kitchens.  In fact, for many families, it’s the most used home in the house.  So having a kitchen that’s functional and suits your needs – and that you love to be in – can raise your quality of life by leaps and bounds.

A 2017 study shows that after completing a kitchen remodel, 50% of households have more family time, 41% prepare more home-cooked meals, and 33% have overall healthier lifestyles.  Raising your quality of life in these kinds of ways can truly add years to your life.  That’s more time you’ll have to cherish and enjoy your loved ones.  And much of that time will probably be spent in the kitchen!