Raise Home Market Value | Increasing House Value by Remodeling Your Kitchen & Bathroom

Raise Home Market Value | Increasing House Value by Remodeling Your Kitchen & Bathroom

The kitchen has long been the most important room in the house; it’s where everyone in the household eats, socializes, grows closer and ultimately spends most of their time. When planning to sell your house, there are a few main improvements that can raise home market value in the eyes of potential buyers. It’s important that you check on which home improvement projects can maximize your Return on Investment (ROI) and help in increasing house value when selling your house. Despite the current economic conditions within the housing market, Remodelers Magazine’s 2009-2010 Cost vs. Value Report ranked a minor kitchen remodel in the top 10 home improvement projects concerning return on investment. Most of the other projects that made the list were less expensive exterior door and window replacements that are considered “need-to-do”, where as a kitchen remodel is more of a “want-to-do” project. In this blog we’re going to tackle the task of minor kitchen remodels and which kitchen components return the most advantageous and financial yield.

A minor kitchen remodel can consist of many different components, it generally includes, updating the appliances, installing new countertops, updating the cabinets/hardware and replacing the flooring. All of these components will help to raise home market value for you. A smart homeowner will strategically choose which changes are made to their kitchen when attempting to raise home market value by kitchen remodeling. Recently, appraisal expert Leslie Sellers ranked upgrading appliances as the number-one home improvement project for increasing house value by remodeling, followed by countertops and cabinets. Luckily for all of us in California, the Pacific states region outperformed the rest of the nation in ROI percentages, despite higher costs. For example, on the West Coast, a minor kitchen remodel averages a cost of $23,210, with a return of 94.8 percent. In the Great Lakes region, however, the same project costs $21,899, with a return of just 69.4 percent. Upgrading from laminate to natural stone or quartz countertops dramatically changes the look and value of your kitchen and helps in increasing house value. An elegant stone countertop will improve the appearance as well as make the kitchen last longer in terms of durability. Going Green by installing efficient faucets, lighting, and appliances is another huge selling point because it lowers the cost of living for a buyer when they move in. As the focal point of the design, cabinets have a heavy influence on the overall kitchen value. Fortunately at Bradco we have many cabinet options specifically designed to fit any budget and maximize the return on our customers’ investments.

Unfortunately, many homeowners have to lower the asking price for their homes in order to close the sale. Buyers have many houses to choose from, and a newly remodeled kitchen is often the wow factor needed to increase house value and sway someone into buying a particular house. Brent Moore, owner of Moore Home Remodeling summarized it well: “You might not get all your money back but if you have the better kitchen you might sell it faster and therefore that’s money in hand.” If you’re still in a financial position to be able to afford a remodel, then it’s still a good investment to raise home market value by remodeling your kitchen, especially if you’re looking at selling your house within the next 5 years. Here at Bradco our designers are a great asset to you when selling your house – they can work with you and recommend a customized minor kitchen remodel that will help you to raise home market value and maximize your ROI.