Can you guess the first thing most people are looking for when it comes to purchasing a new home? 80% of potential buyers put the kitchen at the top of their list. Because of this, the kitchen significantly impacts the value of the home, so let’s get into a breakdown of the numbers.
What Does The Average Kitchen Remodel Cost?
One of the biggest challenges when it comes to remodeling your kitchen is the cost, and understandably so. The price of a full kitchen remodel can add up quick.
If you are wanting a high end kitchen, with premium upgrades such as all new custom cabinets, commercial grade appliances, granite countertops, and a tile backsplash, it is not uncommon to spend up to $126,000 or more.
The good news is that there are actually a couple of ways you can save a ton of money on your renovation. Begin with the areas that will have the most impact. Look at the appliances, flooring, and refacing the existing cabinets. This could help you save anywhere from $5,000-$21,000.
Transforming your kitchen could be less stress and less money than you are initially expecting. Small changes like changing the color of your kitchen cabinets could make that dramatic difference that can help you get more bang for your buck.
How To Save On Your Kitchen Remodel
The first step is to establish a plan that highlights your priorities in areas that will make the biggest difference, take the kitchen cabinets for example. Instead of completely ripping out your existing cabinets, think about upgrading your existing cabinets with a new custom finish or refacing the cabinet fronts.
The Impact A Kitchen Renovation Has On Your Home’s Value
In the current housing market, buyers are willing to pay more money for an updated kitchen. The small upgrades you make are worth the price. It could also be fun to enjoy your upgraded kitchen with your loved ones while you are still in the house.
Out of the homeowners who remodeled their kitchens in the year 2020, 33% reported lived a healthier lifestyle afterwards, 41% said they cooked more at home, and nearly 50% said they enjoyed more family time.
The return on investment for your kitchen remodel will vary based on your property and the local real estate market, but the encouraging news is, even small kitchen renovation projects typically yield an ROI of about 81%.
Kitchen Remodel In Charleston, SC
Simply refacing your kitchen cabinets can make a significant impact on the value of your home. N-Hance of Charleston can help with our variety of cabinet refinishing services in your area.