How Much Does a Kitchen Remodel Add to a Home’s Value
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Most modern households start and end their days in the kitchen by cooking and sharing meals, which makes this room the beating heart of the home. A functional and aesthetically pleasing home not only provides comfort but also boosts its value – exactly why you should seriously consider the value of a kitchen remodel when looking to improve your home.
Most people in the US tend to gravitate towards general contractors for this purpose since that way, you get an expert for cabinets, plumbing, countertops, and backsplash, all in one. Join us as we dive into the world of kitchen remodeling, the way it affects real estate value, and the multiple different approaches you can take when remodeling your kitchen.
Types of Kitchen Remodeling
Before you jump into the specific value that a newly remodeled kitchen will add to your home, you should get to know the basic types of remodeling. This categorization is based on the amount of money you invest and the number of features you choose to improve and remodel.
Minor Kitchen Remodeling
A minor kitchen renovation aims to keep the basis of the kitchen intact while breathing fresh air into it through new and additional features. If you were to do a minor kitchen renovation, you might find yourself painting over the color of existing cabinets rather than installing new ones.
Alternatively, you might opt to replace the kitchen tiling and create a completely new backsplash but keep the flooring as is. Depending on the specific choices you make, a minor kitchen remodel can range anywhere from $25,000 to $50,000 in costs.
Mid-range Kitchen Remodeling
By opting for a mid-range kitchen reno, you choose to keep some basics of the old kitchen, such as the layout and the plumbing. However, the remaining features, such as countertops and even most appliances, get replaced. Mid-range kitchen remodels are great if you want to create a completely new space by taking advantage of the old foundation.
As far as the expenses go, a mid-range renovation has quite a big scope that extends from around $50,000 to $100,000. It all depends on what your specific ideas for the remodel are and how you want to go about applying them.
Major Kitchen Remodeling
Doing a major kitchen remodel is quite an undertaking in terms of both time and effort, as well as financially. You’ll need to strip away all of its features, including the blueprint and the plumbing and wiring. This will leave you with a blank canvas.
This type of remodel can change your entire house and its value since you get to choose every single detail, including the placement of the sink, the countertop materials, and the counter shape. You might even add a kitchen island or a dishwashing machine added. The cost for a major kitchen remodel can range from $100,000 to $160,000 when you factor in all of the work.
How Does Kitchen Remodeling Add Value
There’s no design or appliance that’s timeless. The fresher the condition of your kitchen elements and appliances, the higher the value of the entire property. That ranges from replacing your outdated and damaged countertops with new and more durable ones to replacing underperforming appliances with cutting-edge technology on the market.
So, with every new feature you add or replace in your kitchen, you automatically increase the overall value of your home. If you were to sell your property or even rent it, a brand new kitchen that’s in pristine condition would draw in many more potential clients, and it would drive up the price of the property or the rate of the rent.
How Much Value Do Specific Kitchen Renovations Add
Depending on how much of the kitchen you want to redo and what you’re willing to invest, the value can increase or decrease. According to the national averages and our experience in kitchen remodeling, here’s the value rate you can expect from each type:
- Minor Remodel Value. When you opt for a minor remodel, that means you’re looking to invest anywhere between $25,000 and $50,000. Since the average minor renovation cost is about $28,000 and the expected property value increase is about $20,000, you’ll get a return of over 70%. This is the highest margin.
- Mid-range Remodel Value. Mid-range renovations typically cost between $50,000 and $100,000, and if you were to take the average expense of $80,000 as your benchmark, you can expect to increase the value by $45,000. When you calculate the percentage, this comes out as a return on investment of over 55%.
- Major Remodel Value. Major kitchen remodels can cost you anywhere from $100,000 to $160,000 based on what you want to accomplish, but they also increase your home’s value by $80,000+. That means that you’ll see a return on investment of about 50%, which is a significant improvement.
Key Costs to Consider
Though remodeling your kitchen is quite an undertaking with many moving parts, you should understand the elements that can drive up your home’s value the most. Let’s explore which kitchen features you should prioritize.
Countertops
To start with, countertops are the centerpiece of every quality kitchen since they’re essential to both the aesthetic and the functionality aspect. Granite and quartz have seen an uptick in popularity thanks to their durability and smooth appearance. However, you can’t go wrong with a top-tier marble countertop, either.
Backsplash
It may not seem like it at first glance, but the backsplash sets the tone for the entire kitchen. It’s not the most obvious feature, but well-done tiles that fit your kitchen’s color scheme can make the other features, such as the cabinets and the appliances, pop. This also increases the kitchen’s value.
Appliances
We live in an era of fast-developing technology in every aspect of our lives, and this includes kitchen appliances, regardless of whether they’re blenders, fridges, or dishwashers. One thing to keep in mind when it comes to the value of a kitchen is that while you should prioritize the quality of your appliances, you should also match the design and color to the kitchen’s theme.
Flooring
Similarly to the backsplash, the flooring isn’t the first aspect of a top-tier kitchen that you think about, but it can make the difference between an average and a next-level valuation. Opting for hardwood floors that are durable, aesthetically pleasing, and easy to maintain can offer you an 80% return on investment. This is quite a stellar rate.
How to Save Money
Kitchen remodeling can be quite a pricey venture. And while it will definitely be worth it in the long run, there are some ways in which you can save money while doing it. Here’s an example:
- Refurbish the Cabinets. If your cabinets are in a good state, even if slightly outdated, you don’t need to throw them out and replace them with new ones. Instead, you can choose to uninstall them and repaint them. You can also add new touches, such as better handles that will make the cabinets seem like an entirely new feature.
- Put an Accent on the Backsplash. The backsplash is actually one of the cheapest parts of a kitchen remodeling. If you were to invest in getting brand-new tiling for your kitchen, it would be much cheaper than changing an entire set of cabinets. You can also get playful with the backsplash colors.
- Don’t Overspend on Appliances. Appliances are very important to the overall functionality and appearance of a kitchen. However, this doesn’t mean you should buy new ones when you decide to remodel. Most modern appliances are designed to blend in with most environments. If they still do the job, keep them.
Investing in Your Home
Though remodeling your kitchen isn’t a decision you should make lightly, it can turn out to be one of your most worthwhile investments. Especially when there are multiple types of remodeling and variables to consider. Instead of starting this venture alone, you can just rely on top-rated experts with 10+ years and thousands of kitchens of experience.
We at SemBro Designs have partnered with some of the best brands in the industry in order to provide high-quality products for our clients. Not only that, but you can always contact our team if you’re unsure about why and how you want to approach the kitchen remodeling, and we’ll do our best to turn your vision into reality.