Did you know that out of all the remodeling options out there, kitchen renovations happen to be one of (if not the most) common renovation when it comes to the home? This doesn’t come as a surprise to us, seeing as there are many amazing benefits that come with this type of project — one of them being a huge spike in value. To learn exactly how your next kitchen renovation can affect your home’s value and what factors influence this outcome, check out the info we have below.
The Amount of Work Involved
Before truly deciding on anything, you will want to figure out how significant your renovation will be in terms of the work done. When you don’t get a good idea on the scope of your project, your budget will fluctuate and your money/time spent will become confusing to track. Some general work scopes to give you a better picture include:
- Minor Kitchen Renovation: Often involving small cosmetic improvements such as repainting walls, regrouting floor/backsplash tiles, etc.
- Standard Kitchen Renovation: This project will often involve the previous changes above as well as things like refacing your kitchen cabinets, upgrading appliances and replacing countertops.
- Extensive Kitchen Renovation: A major project such as this will cover almost every aspect of your kitchen, including but not limited to the things above. This could be things such as adding an island, changing your lighting situation, replacing floors, tearing down walls for more space, etc.
The Quality of Said Work
Quality is another important factor that will affect a home’s value. The quality of one’s kitchen renovation will almost always depend on the team you choose, as well as the budget you decide to set for yourself in terms of materials/appliances. Although the amount of money you spend can have an effect on the value of your home, this isn’t always the case. Unfortunately, not every kitchen renovation project provides a homeowner with a return of investment. If you’re looking for a better chance at an ROI, always focus on features that upgrade the convenience and functionality of a space rather than the looks of a space. In almost every case, minor kitchen renovations will offer a better chance at return of investment than major ones.
The Time the Work Is Done
When people consider kitchen renovations to increase a home’s value, the question that often comes up is what is the best time to do this project. In general, our team recommends that you do this renovation a year or so before you decide to list your home for sale. We believe this is the perfect time period because it will be new enough to notice all of the amazing upgrades, while also looking lived in at just the right amount. This year gap also gives you enough time to implement all of the changes while also being updated with the most current trends and styles that you can implement into your project.
Let Us Help
Has the information we have provided interested you? Are you possibly looking into renovating your kitchen space to increase your home’s value? If so, you’re in luck because we here at Andre Kitchen and Bath can help. For years, our company has made our clients’ renovation ideas come true, and you can be next. To learn more about how to start a kitchen renovation in Richmond Hill with our team, be sure to call us at (416)-562-1068 today!
