Are you planning a kitchen renovation but don't want to spend money on upgrades that won't add value to your home? It's important to consider cost versus value and ROI when making interior updates, especially when it comes to the heart of the home: the kitchen.
Here are the top 5 kitchen improvement projects recommended by real estate and remodeling professionals for maximizing your home's value:
- New Cabinets - Replace old, worn-out cabinets with updated ones for a consistently high ROI. Even refinishing cabinets with new hardware and paint can go a long way in adding value.
- Increased Countertop Space - Counterspace is key when it comes to a kitchen's value. Homebuyers are always looking for more room on countertops, so adding additional space through counter-extension cabinets or a stationary kitchen island can add value.
- Skylight - An under-the-radar way to make a kitchen feel larger, installing a skylight draws potential homebuyers' eyes upward and can contribute an estimated $5,000 to $6,000 in value upon resale.
- Upgraded Flooring - Replacing outdated linoleum with tile or hardwood floors can provide up to an 80% ROI upon resale. Opt for continuity throughout the house by reflooring the kitchen and dining room at the same time.
- Avoid these low-ROI upgrades - Fancy countertop materials, personalized design choices, and nonessential luxury items may not hold their value in the long run. Consider your local market and comparable listings before investing in these amenities.
Maximize your home's value with these high-impact kitchen renovation upgrades and avoid wasting money on low-ROI improvements.