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How Much Value Does a Kitchen Remodel Add to Your Home?

How Much Value Does a Kitchen Remodel Add to Your Home?

how much value does a kitchen remodel add

 

You may have heard about the economic benefits of a kitchen remodel. Some professional kitchen redesigners will claim your house value increases and becomes more market-approved with their services. But how much value does a kitchen remodel add to your home after finishing the job?

Viteri Cucine provides kitchen remodeling services in Hollywood, FL, and our experts prefer to put facts and figures with our statements. Read more to learn how much resale value you can expect from a kitchen renovation project.

Using Kitchen Renovations to Make Money

Many homeowners expect an immediate return on investment (ROI) from a kitchen upgrade. Unlike economic investments, like stocks, bonds, or certificates of deposit, home renovations rarely return as much as they cost. Moreover, the more extensive your upgrade, the more money you may lose.

Your ROI depends on several factors that the typical mathematical equation may not account for, including:

  • Project quality
  • Initial property value
  • Neighborhood property value
  • Market conditions in your area
  • The length of time you stay on the property

So, the figures state that there’s no guaranteed recoup percentage from a kitchen upgrade. With that said, you can still expect some return, though not as much as you perhaps thought.

Kitchen Renovation Numbers in Action

Zonda Media’s South Atlantic reports from 2023 indicated you could recuperate about 79.1% of the money spent on a minor kitchen remodel. In their example, a mid-range, minor kitchen remodel included several redesign factors:

  • New wall paint
  • Replaced flooring
  • New sink and faucet
  • Replaced countertops
  • New hardware for cabinets
  • Replaced cabinet and drawer doors
  • Replaced cooktop, oven, and refrigerator

If all these additions and replacements cost $30,000, depending on other neighborhood-specific factors, you could expect your home value to increase by $23,730.

Then, you have a mid-range, major kitchen remodel with the previous fixings, plus a kitchen island, custom light fixtures, and additional appliances. Even so, figures from 2023 indicate homeowners in the South Atlantic could only expect about a 40% ROI. A mid-range major kitchen remodel with an average cost of $75,000 would generally increase the resale value by only $30,000.

The ROI on major mid-range and upscale renovations has been low consistently for at least the last ten years.

Using Your Kitchen Remodel Money Wisely

If you think you should never remodel your kitchen, think again. After all, how much value does a kitchen remodel add to a house with very little storage space? How much value would a new oven add to a property without a working one?

Improving the space in small ways can do more than a complete remodel.

When you invest in home improvement, you often have to look beyond the numbers to determine if it is a good idea. The value of a kitchen remodel doesn’t only exist in its resale price increase. Sometimes, remodeling your kitchen may be worth the trouble to improve your satisfaction with your living space.

If you intend to stay around, you could increase your budget to add a few more personal effects. Otherwise, you may only want to make minor changes to improve its resale value with the least amount of financial loss.

Expert Cabinet Care for Your Kitchen Remodel

When you’re ready to remodel your kitchen, contact Viteri Cucine. Our team provides top-quality custom cabinets to suit your needs and fit right in with the aesthetic of your home. Your kitchen storage system can become more efficient and better suited to your style.

How much value does a kitchen remodel add to the enjoyment of your Hollywood home? Whether you have the answer or want to consider it, call Viteri Cucine at 954-549-4912 or visit our contact page to schedule an appointment today.

Frequently Asked Questions About Remodeling Your Kitchen

How much does it cost to remodel a kitchen?

Kitchen remodel costs vary based on several factors, including the size of your kitchen, the changes you want to make, and labor costs. Request a service quote from trustworthy kitchen remodelers for specifics.

How much value does a kitchen remodel add for new homeowners?

New homeowners generally enjoy a kitchen with a lot of storage, so a minor remodel to increase storage space can add value. The amount of value it adds depends on the potential homeowner.

What is the most important part to remodel in a kitchen?

The most important part to remodel in a kitchen varies based on your tastes. Even so, roughly 50% of most kitchen remodeling budgets typically go to cabinetry and countertops for improved storage space.

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