When it comes to remodeling projects in your home, there are a number of factors to consider before getting started. The first one is why you want to remodel in the first place. Are you planning on remodeling for an increase in home value or is it for your own enjoyment or needs of your family for added or more functional space? The next question to ask is how long do you plan on living in the home? Are you going to be there long term or will you be moving within the next three or so years? The answers to these questions will help you plan your remodeling projects and decide on where to begin and how much money is wise to invest.
One of the top remodeling projects for enhanced function and enjoyment as well as a high potential return on investment is kitchen remodeling. According to the National Association of Realtors a minor kitchen remodel will average a return of 72.8% and a major kitchen remodel will return on average 68.7% of the investment when the home is sold. Additionally, any realtor will tell you that a home with an updated kitchen that features the modern surfaces and appliances in demand by today’s homebuyer will result in a much faster sale in a very competitive market.
For a kitchen that is generally well laid out but is dated, a minor kitchen remodel can breathe new life and energy into the space. This project may involve leaving the cabinet boxes in place and replacing the fronts with new wood doors, drawers, and hardware. Replace the appliances with new energy-efficient models. Stainless steel appliances are the current top fashion. Laminate countertops may be replaced with granite or engineered stone for a high-end remodel or replaced with new laminate for a fresh, updated appearance.
A major kitchen remodeling can involve gutting the entire space and starting from scratch with a redesigned floor plan. Many such remodels involve removing a wall to open the space between the kitchen and family living area for a more contemporary design. For maximum return on the investment, take care to not over improve the space, taking into consideration neighborhood home values.