Why Minor Kitchen Remodels Can Pay Off More Than Major Ones
Did you know minor and affordable kitchen remodels can pay off more than major ones, especially if you're considering selling your home down the line?
Joy Aumann, a licensed realtor, interior designer, and founder of Luxury SoCal Realty, told us why in an exclusive interview with Tasting Table. "Smaller, well-chosen updates can often give a better return than a major renovation ... Bigger renovations can push the price of a home past what buyers are willing to pay in that neighborhood, which hurts your ROI [return on investment] in the end."
But what exactly is a minor kitchen remodel versus a major one? According to Aumann, minor remodels involve simple projects. As she explains, these projects may include, " ... updating cabinet fronts, installing quartz or granite countertops, replacing old lighting, and swapping out hardware." On the other hand, major remodels would involve, as Aumann points out, "[moving] plumbing, [changing] layouts, or [using] luxury finishes [which] can cost several hundred thousand dollars." Additionally, she adds, "While the results can be beautiful, the resale market in many neighborhoods often cannot support that kind of spending."
For homeowners not planning to sell soon, a major kitchen remodel might still make sense. But if resale value is a top priority, sticking to modest, strategic improvements is often the smarter move, Aumann says.
If you plan to sell your house, understand your housing market first before renovating your kitchen
Understanding your housing market won't hurt either. She tells Tasting Table, "The key is to focus on improvements that make the space look modern and functional, without going beyond what buyers in the area are willing to pay. Timing a remodel when demand is high can also help maximize the return." In other words, a project that makes sense in one neighborhood may not in another, so do some market research first before you go all out with your kitchen renovation.
As for what improvements to focus on, Aumann has tips for us too. She elaborates, stating, "The upgrades that tend to perform best are the ones that will make daily life easier and appeal to most buyers. Quality stone countertops, durable cabinets, energy-efficient appliances, and well-placed lighting consistently add value. Improving the layout of the room so that the kitchen naturally flows into the living area is also a major selling point since open, connected spaces are highly desired." To summarize, try looking through the eyes of your potential buyers. So, if you think it's time to remodel your kitchen, and possibly get it ready for buyers, be sure to check out our list of the 14 things to avoid when renovating your kitchen and avoid this one kitchen remodel mistake that can leave you scrambling later.
Source : https://www.tastingtable.com/
*The above is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.
Call or send a message to schedule a consultation!
