Our customers frequently question us about how much of the cost of remodeling their kitchens they should recoup when they sell their property. Most homeowners and real estate experts mistakenly believe that the ROI for a kitchen renovation is less complicated than it is. The biggest myth is that a newly renovated kitchen should increase a home’s value by a certain amount when it’s time to sell. Another is that it won’t be a wise investment to renovate a kitchen in a house that is already priced higher than most others in the neighborhood.
In practice, the value of a home has been shown to fluctuate between actually dropping in value and gaining in value by an amount multiple the cost of the restoration. The design of the kitchen itself has the most impact on the return on investment of a makeover. The ROI, for instance, could be pretty low if the same poorly designed kitchen was redone in the same manner. It might also be a new, even worse design that provides a homeowner with what they believe they want even though it doesn’t fit or function well in their area, which could reduce the value of their house.
The best designs to choose from and those that don’t work are frequently unclear to homeowners. Despite our efforts to convince them otherwise, many homeowners still wish to put their ideas into practice. Or they choose to stick with the current appalling design since they are familiar with it.
At Virginia Kitchen and Bath, our first duty is to present better designs to our clients than they may request. If there were better designs or design upgrades, we believed the consumer needed to see them. If not, it wouldn’t be ethical or professional to execute the design the customer requested. Of course, after seeing what we suggest, they can purchase the kitchen they had in mind, provided it’s safe. However, working together and having a qualified kitchen designer evaluate many designs typically results in reasonable compromises that customers like. After the dust settles, they start using their new kitchen for cooking and daily living.
The top ROIs for kitchen improvements that we typically see are listed below. Take note of the absence of premium appliances, quartz countertops, custom cabinetry, and gadgets.
Top 10 Return on Investments for Kitchen Renovations:
- Collaborating with a skilled and knowledgeable kitchen designer
- Taking off a soffit
- Taking down the wall that divides the dining area from the kitchen in smaller houses
- Using molding to reach the ceiling
- Upgrading cabinets to use only plywood
- Upgrading to soft close doors and dovetail drawers
- Incorporating a refrigerator into cabinets
- Two garbage cans close to the sink
- Style of recessed doors
- Large sink with one bowl