Kitchen Makeover A Good Investment | Kitchens & Return on Investment

Is A Kitchen Makeover A Good Investment?

Generally, however, a remodeling budget of 15% of total value is a safe bet, and should result in at least an 80% return on investment. How much of a return you can expect depends on the scope of the project. Because extensive modifications are more expensive, they often return less. On the other hand, projects that are basically repairs merely return the kitchen to the basic standard and don’t enhance its sales appeal. Nonetheless, a 100% return may not be totally out of the question. In fact, quite often all that’s needed are new appliance, which require limited labor but deliver heightened appeal for prospective buyers.

However, ROI isn’t the only thing to consider when contemplating a kitchen makeover. Part of the value is in the improved quality of the lives of you and your family. In fact, sometimes a new kitchen is so satisfying that it results in a change of heart and a decision not to sell. Or maybe you never had any intention of selling but merely want to put your kitchen renovation in a realistic perspective. Here again, real estate agents can be valuable resources because they are familiar with what their other clients have done and how much they have invested. They can tell you what has been successful for other homeowners in your neighborhood.

The bottom line is that while remodeling your kitchen will improve the comfort, value, and appeal of your home, in order to protect your investment, you need to be sure before you begin that you’re not pricing yourself out of the market.