Planning to sell your Atlanta house? To get the best possible price for it, you may need to do a few home improvements and give your home a fresh, updated look.
Not all home improvements, however, can increase the value of your home. In some cases, the returns you get may not be enough to recover the cost of the project. In general, however, you can’t go wrong with a kitchen remodeling.
The kitchen is considered the heart of the home where families often gather. A welcoming, functional kitchen can elevate the mood in a home, and conversely, a worn out, outdated one can make the property feel neglected. Along with the bathroom, the kitchen is one part of the house that buyers inspect more closely.
According to Remodeling Magazine’s Cost vs. Value Report for 2020, however, the ROI you get from improving your kitchen also depends on the type of changes you make and the amount you spend.
To get the most out a kitchen remodel, consider these tips.
1. Do a cost analysis
Compare the returns you may get for different budgets. According to the Cost vs. Value Report, a minor to midrange remodel with an average cost of around $23,400 can yield the best returns, with a 77.6% ROI. The more you spend, the lower the ROI you can expect.
Always consider housing trends in your neighborhood. How much are homes selling for? What kind of kitchen do your neighbors have? If you spend too much for a fancy kitchen and list your home at a higher price to recoup your investment, you could end up pricing your home out of the market. Eventually, you may have to lower the price and take a bigger loss on your investment.
On the other hand, if your kitchen has not seen any improvement in a long time, you may have to spend on a full remodel just to get it updated and up to par with other properties in the area. This is especially true in a neighborhood where luxury is the norm, and most houses have state-of-the-art kitchens.
2. Make sure your kitchen blends in with the rest of the house
Just as your kitchen should match the trend in your neighborhood, it also has to go well with the rest of the house. An ultra modern kitchen design in a home with a traditional look may feel out of place, and end up losing value for your home instead of enhancing it. You can incorporate the latest gadgets and features, but they have to seamlessly blend in with the rest of the house.
3. Go for the most valuable improvements
A quartz countertop can certainly add a touch of luxury to your kitchen, but it’s not necessary to increase value. A synthetic, high quality material can still enhance the look and function of the space while costing considerably less.
Instead of installing new cabinets, consider refacing existing ones and giving them quick, inexpensive makeovers, such as changing the handles, repainting, or restaining.
Other improvements that can surely add value are upgrading to energy efficient appliances, adding storage, updating the faucet, and improving the flooring.
In improving your kitchen, spending more doesn’t necessarily result in making your home more desirable. Do your research and make decisions wisely to get the biggest bang for your buck.
Sources:
Does a Kitchen Renovation Increase Home Value?, Moving.com
How Remodeling Your Kitchen or Bathroom Increases Your Home’s Value, OurCommunityNow.com
