How Will a Kitchen Renovation Affect Your Home Value?
How Will a Affect Your Home Value?
In most cases, you can count on your new kitchen remodel to boost the value of your home. After all, buyers are willing to pay more for high-end finishes and thoughtful upgrades, especially in today’s market.
According to a recent survey, 80% of homebuyers placed the kitchen in the top three most important spaces in a home. Additionally, 69% of homebuyers who purchased homes without certain features claimed they would have paid more for new appliances, and 55% said they would have paid more for granite counters.
An updated kitchen can help your house stand out for prospective buyers, which, in turn, can help you sell faster and for more money. That’s great news if you’re thinking about selling in the future. However, there are many reasons why homeowners opt for a remodel other than resale value. In fact, we typically encounter three main reasons more frequently than resale.
What Is the Average ROI of a ?
Your overall return on investment has a lot to do with how much you spend and the types of renovations you invest in.
Your ROI can also be influenced by where you live. For example, while the national average ROI for a minor remodel is 81%, the percentage increases to 93% if you live in the Pacific area of the country. If you live in North Dakota or Iowa, you can only expect to recoup 68% of the cost based on national averages.
There’s no one-size-fits-all ROI for a kitchen remodel. Your ROI depends on the specifics of your local market, which is why we always recommend speaking with an expert real estate agent or professional designer. They’ll be able to give you solid advice about which kitchen renovations offer the best returns.
Using The Arrows Below, View A Gallery Selection Of Our Recent Custom Kitchen Remodels
Is It Worth It?
The answer depends on you and your goals. Let’s look at it this way: If you are planning to sell your house in two months, it may not be in your best interest to put $60,000 into a if your real estate agent only thinks you’ll recoup $40,000. However, the right updates can give your home value a boost before hitting the market-and help you attract as many buyers as possible!
Top lifestyle changes after kitchen renovation
- 1. ) 49% more family time
- 2. ) 41% more home cooking
- 3. ) 40% more entertaining
What if you plan to enjoy the yourself? Having a that you love can impact your day-to-day life in positive ways. Of those who remodeled in 2020, 33% said they have a healthier lifestyle after renovating their . Nearly 50% said they have more family time, and 41% said they cook more at home. It’s hard to deny those benefits! Remodeling a kitchen is a big decision, and we are here to help. We understand a custom kitchen is truly an investment for you and your family. Nevertheless, your remodel will leave you feeling like your new space is the gift that keeps on giving!
About Drury Design Kitchen and Bath Studio
Founded by Gail Drury, CMKBD in 1987, Drury Design’s Client Focused Design™ approach integrates design recommendations, materials selection, and construction management into one seamless customer design, project management, and build experience. For kitchen, bath, and home remodeling ideas view Drury Design’s design portfolio or stop by the studio at 512 N. Main Street in downtown Glen Ellyn, Illinois.