What can a kitchen remodel can add at resale?

Deciding to do kitchen remodel can feel like a daunting decision to make, especially if you don’t see yourself living in your home for a long time. Fortunately, kitchen remodels have a great return on investment and can add to the overall value of your home. Investing in a kitchen you’ll love today will pay off when you decide to sell in the future.

How much does a kitchen remodel cost?

There is a massive range when it comes to the cost of a kitchen renovation. Factors that will come into play include whether you hire kitchen renovation contractors or do some of the work yourself, the size of the renovation, complexity of the renovation and the materials you choose. DIY kitchen renovations can cost a few thousand dollars where large and high end kitchen renovations can cost up to $100,000 or more.

While we find their estimates low, HomeAdvisor states that the average homeowner spends between $10,000 to $15,000 remodeling the kitchen with some renovations costing over $30,000.

How much money can you get back at resale?

Remodeling Magazine has more accurate numbers when it comes to the cost vs. value of a kitchen remodel. For a minor kitchen renovation, that is midrange not high end, they estimate it costing $21,000 with a return of 81.1% on that. That would bring up your home’s value by $17,000.

For a major kitchen remodel, still midrange, they estimate it costing $63,800 with a 59% return on investment adding about $37,600 to the value of your home.

For an upscale major kitchen remodel, using high end materials and changing the structural layout of the space, they estimate you would pay $125,700 and the return is only 53.5%, adding $67,000 to the value of your home.

How to be smart with your kitchen remodel investment?

Just like most home improvements, high end and lavish renovations never recoup the same percentage of their cost compared to the average, midscale renovations. If you want to upgrade the kitchen, but also want to move in the next few years, it is recommended that you invest in a minor kitchen remodel instead of paying kitchen renovation contractors to give you an upscale and expensive remodel that won’t recoup it’s cost at resale.

A minor kitchen remodel would include replacing the countertop with new laminate countertops, replacing the floors with modern vinyl resilient flooring, upgrading appliances and refacing your kitchen cabinets instead of replacing them entirely. It would also include new faucets, fixtures and a fresh coat of paint.

Get more Kitchen Renovation tips >> Getting More From A Tiny Kitchen