Kitchen renovations are one of the most popular home remodeling projects in the country. They not only add beauty and usefulness to a home, they also recoup their cost better than most renovations. If you are thinking about remodeling and wondering how kitchen renovations add value to your home, there are some important things you should know. …
How Kitchen Renovations Add Value to Your Home
How Much Value Do Kitchen Renovations Add to Your Home?
When we talk about value, it’s all about the numbers. Forget adding elegance, style, and utility to your home; those are undeniable advantages to kitchen remodeling, but they can’t be measured in dollars and cents. So what do the numbers say?
Nationwide, “minor kitchen remodeling” is the fourth-best home remodeling project for cost vs. value. Remodeling Magazine says that the national average for a minor kitchen remodel is just shy of $21,000, while it adds nearly $17,000 worth of value, for an 80% cost recoup.
To put those numbers into perspective, only one project (adding fiberglass attic insulation) has a national cost recoup over 100%, while a roof replacement recoups 69%, a master suite addition recoups 65%, and building a backyard patio only recoups 55%.
How Kitchen Renovations Add Value to Your Home: New Materials, High Demand
Understanding how kitchen renovations add financial value to your home involves many different factors. There is, of course, the material value of newer, modern cabinets, countertops, and flooring, but there is also the “demand” factor. (Think “supply and demand.”) People want to move into a home with a nice kitchen, so having kitchen renovations will increase the demand for your house.
The Bottom Line: Remodel for Happiness First, Not Financial Gain
Let’s be honest, if you’re looking for a place to grow your money, remodeling your home is not the best choice; you’d be better off placing your cash in the stock market, or, quite frankly, leaving it in a bank account. The vast majority of projects will not recoup their total cost in home value.
So why remodel at all?
Because remodeling your home allows you to create a space that makes you happy. Because kitchen renovations create a warm, elegant home that is more enjoyable and more useful. This, more than any other reason, is how kitchen renovations add value to your home. It may be impossible to measure, but there is undeniable value in having a kitchen you love!
Discover How Kitchen Renovations Add Value to Your Home with JK Cabinets & Design
If you are interested in a kitchen renovation, contact the experts at JK Cabinets & Design.
You’ll get reliable advice and design support from experienced interior designers, so give us a call at 480-219-9580 and let’s get started on your home rejuvenation!