Fixing up your home is a great idea when you’ve decided to put your home on the market. However, you need to be careful with the types of projects you take on and what you decide to invest your time and money in. While some projects may bring in a high ROI, many others won’t let you recoup all that money spent.
It’s widely known that the kitchen is undoubtedly one of the most important spaces in a home, if not the most important. As such, it would be worth it to focus on this room when planning any remodeling.
Having said that, you can take things a little too far and have a huge renovation done that involves completely gutting the space to create a brand new one. But these in-depth projects are typically very expensive and will likely make your ROI suffer. In fact, you even stand the chance of lowering the value of your home if you “over-improve” your kitchen if the neighborhood doesn’t call for it.
To make the most of remodeling your kitchen, consider the following.
Focus on Things That Will Ensure a Higher ROI
Obviously, the higher the ROI on the improvements you make in your kitchen, the better. Ideally, the upgrades you make should bring in the highest ROI possible. For instance, there’s no point spending money redoing the floors if your counters are out of style and in rough shape.
Find out exactly what prospective buyers in your area are looking for and expect in a home, and focus on that. If they like granite counters, give them that. If they’re not fond of white appliances, replace them with stainless steel ones. Come up with a clear budget with your contractor, and find out exactly what type of improvements would help sell your home.
Replace or Reface the Cabinets
Kitchen cabinets are important features to consider revamping, especially since they’re at eye-level and take up a lot surface area. While you could replace them altogether, you would spend a lot less money just sanding them down and refacing them, which can have a similar effect at a fraction of the price. This is definitely a job you want to do if your cabinets are in rough shape or are made of outdated material.
Replace the Hardware
It’s amazing how much of an impact seemingly understated components like knobs and handles can make in a kitchen. If your kitchen currently has out-of-date hardware, like gold- or bronze-plated knobs, swap them for something more updated.
Install a New Sink and Faucet
Again, a kitchen component that’s often overlooked is the sink and faucet. There are tons of new models available that are very stylish and much more efficient. You can easily replace yours on your own.
Go With Granite
If your counters are currently made out of some sort of cheap, outdated material – such as vinyl or laminate – you’ll definitely want to get rid fo them in favor of granite. In fact, buyers have come to expect granite counters when they’re on the hunt for a new home. Regardless of what price point your home is listed at, buyers want granite on kitchen countertops.
The good news is that granite has come down a great deal in price. You no longer have to pay a premium for this natural stone, so it’s actually a rather cost-effective way to update your kitchen.
Create an Open Concept
Buyers will be impressed if they see a spacious kitchen that’s open to the living area. This encourages easier interaction when entertaining and also helps parents keep a closer eye on their little ones who are playing or watching TV in the living room.
If your budget permits, look into knocking down a wall to open up the living space with the kitchen. If it’s a load-bearing wall, you may still be able to open the space up by incorporating a column. If that’s not possible, have a chat with your contractor to see if you can brainstorm a way to revamp your kitchen to allow for more space and better flow.
Add Some Updated Lighting
When homeowners think of components of the kitchen that could use an update, lighting is often last on the list. Yet lighting can make a massive difference in the look and feel of this space, which is why this is certainly an important area to consider improving.
When it comes to the kitchen, layering is key. Add pot lights throughout to illuminate the entire space, and add dimmer switches so you can adjust the brightness as needed. If you have an island, hang pendant lights over top. Add some under-cabinet lighting to enhance the ambience and provide task lighting for meal preparation.
The Bottom Line
Buyers will certainly place a lot of weight on your kitchen when deciding if your home is the right one to put an offer on. Depending on the state of your kitchen, you can get away with doing much smaller-scale – and less expensive – jobs that will bring in the highest ROI. Keep the above tips in mind before you start taking hammer to nail.