Do you know all the benefits of kitchen remodeling? Like most people, you think a new kitchen will only provide more counter space, better lighting, and an improved layout. However, updating your kitchen can yield an impressive return on your investment. Here’s how spending money on a kitchen renovation today will help you earn even more money tomorrow.
Updated Kitchens and Home Resale Values
How much did you spend on your house? Now imagine if you could turn around and sell it for even more. It’s possible to do just that if you remodel one of the most important rooms. Homebuyers willingly spend more on homes with updated kitchens. As one of the most utilized spaces in a home, buyers want a functional and beautiful room they don’t have to remodel post-purchase.
An updated kitchen is a major selling point. Remodeled kitchens are a sure-fire investment, and you may be able to recoup all or more of the renovation costs. Most real estate agents agree that no other renovation creates a better ROI than a kitchen remodel.
Money-Saving Benefits of a Remodeled Kitchen
But what if you don’t want to move out of your home? Just because you plan on sticking around doesn’t mean investing in a new kitchen won’t provide financial relief. Although renovating this room will cost you initially, you can expect to see an ROI in other ways. These include:
- Updated appliances may help lower your energy bills.
- Some vendors and government entities offer rebates for energy-saving appliances.
- Fixing any hidden leaks or plumbing issues will reduce your water bill.
Although these benefits won’t pad your bank account right away, the money you save will add up slowly over the years.
Where to Budget Your Money
The average remodel costs about $30,000, but that may not be in your budget quite yet. However, everyone can find ways to afford a kitchen makeover. Even small changes can have a lasting financial effect.
If you need to count every penny, consider making a few cosmetic enhancements around your kitchen. New lighting fixtures and repainted cabinets can make a significant impact. And buyers will pay more for even the smallest updates.
Of course, if you can go big, do! Replacing outdated appliances, adding more shelving, and building a kitchen island are great places to start. A designer can help you choose the best renovations to boost your ROI.
Get the Kitchen of Your Dreams
Renew Kitchen and Bath wants to give you a dream kitchen. We can transform a drab room into a fun gathering space for your friends and family. There’s nothing we can’t handle! We pay attention to every detail and use only the best materials. Best of all, you’re sure to see an impressive ROI after we leave. Get in touch with our design experts to learn more about the benefits of kitchen remodeling.