How Much Does a Kitchen Remodel Increase Home Value?
Many real estate agents will tell you that kitchens sell houses. They point to the fact that both kitchen upgrades and full renovations rank high on home buyers’ wish lists. This has led to the belief that among home improvement projects, kitchen renovations are the most likely to increase your home’s value. But is that true?
In short, it depends. An anemic housing market can take atoll on resale values, while a robust housing market helps just about any project deliver a better return on its initial costs. But make no mistake, as a home improvement, kitchen remodeling ranks well in terms of delivering a return on investment. According to a 2011 report in Remodeling Magazine, even in weak housing markets, minor kitchen remodeling projects rank near the top in dollar-for-dollar returns among all projects.
The type of kitchen remodel also affects resale value. As a February 2012 article by United Press International notes, a major kitchen remodel returns nearly 69 percent of its cost. So, it’s no surprise that the National Association of Realtors ranks a well-designed kitchen remodel as the best home interior remodeling project for increasing a home’s value.
Every Little Bit Helps
If you’re on a budget and want to improve your kitchen,simply replacing your old cabinets can add immediate value to your home. (Evenif you have no plans to move any time soon, new cabinets can elevate your home’s appearance and give you more effective storage options.) If you think your kitchen needs a full-scale renovation or major updates like new counters as well as cabinetry, you should definitely turn to a professional contractor. Working with an experienced home remodeler can help you determine what work needs to be done and ensures the improvements will be completed more efficiently.
Alure Home Improvements Is Here for You
As one of the top full-service remodelers in the Long Island area, Alure Home Improvements has more than 70 years’ experience performing projects that help our customers boost the value of their homes. Whether you want to enhance your kitchen with granite countertops or solid wood cabinetry, or you require a complete kitchen remodel that includes an expanded layout with beautiful fixtures, new flooring, and a kitchen island, we would be delighted to be your home improvement partner. Contact Alure Home Improvements today for more information, or visit our expansive kitchen design showroom and explore the wonderful possibilities.
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