Are you ready to upgrade and update your kitchen yet not eager to price yourself out of the market? The home remodeling market is recovering as well, and is now a $300 billion industry, according to the Joint Center for Housing Studies of Harvard University.
Today’s modern families spend most of their time in the kitchen, and so an investment to improve the look and functionality of this room is typically a good one. The key is to buy good quality appliances and solid kitchen cabinets. Watch your pocketbook though. Don’t go overboard. The cost to value is high, adding between 60- 80 percent of the project’s cost back to the homes value. Yet homeowners aren’t looking for that specific wine cooler or high-end trash compactor as much as they look for quality cabinets, and high end appliances. Gadgets are great to have yet most homeowners don’t want to pay for them.
The kitchen yields a high return, but its best to keep a few things in mind. What you get back on your investment depends on the value of your house, the value of houses in your neighborhood, the housing market where you live and the quality of the project.If your home only has one bathroom, it does not make sense to upgrade to a 10,000 stove in the kitchen. Keep these points in mind when considering a kitchen remodel and don’t go overboard. Replacing old appliances and cabinets is always a good idea, just watch your pocketbook and think ahead to resale when you purchase.