Best Home Improvements for Return on Investment
Kitchen remodeling is one of the must-do projects for homeowners who need a fresh updated look along with increased space and functionality. The art of remodeling is about creating a kitchen that works for the family today, but also offers the features to help a home sell quickly in any market.
Statistics from the current Cost vs. Value Report, published by the National Association of Realtors, indicate kitchen remodeling ranks among the five most effective home improvement projects based on the overall ROI. Resale data collected from 3,000 industry professionals shows minor kitchen remodeling projects in the $20,000 price range offered one of the best returns on investment across the nation at 72 percent.
To keep costs down, homeowners can give aging or outdated kitchens a facelift with custom cabinets, new countertops, and energy-efficient appliances that take advantage of existing plumbing and electrical systems.
When the current space or layout isn’t working, many homeowners opt to complete a major kitchen remodeling project. With a larger budget (over $50,000), homeowners can knock down walls, add a kitchen island, incorporate custom cabinets and make major floor-to-ceiling changes that dramatically improve functionality.
According to the Cost Vs. Value Report, upscale and high-end remodeling projects in the $100,000 range typically offer a 59.7 percent return on investment. Upgrades in this category include commercial-quality appliances, custom cabinets made from solid hardwood or bamboo, natural stone or quartz countertops, and eco-friendly cork flooring.
At any price range, resale appeal is an important consideration. Ventilation systems, cabinets with sliding shelves and storage compartments, under-cabinet microwave/convection oven combos, task lights, and under-cabinet lights are win-win choices that improve functionality and resale appeal.
Return on investment and increased resale value are only part of the big picture. One of the biggest benefits of an up-to-date kitchen is how much faster average selling times are. Some homeowners believe they can’t afford or don’t need to bother with remodeling the kitchen before putting their home up for sale. However, this couldn’t be farther from the truth. Fixing up kitchens is one of the universally recommended tips for all homeowners.
As a rule of thumb, kitchen remodeling projects are budgeted at 10 to 25 percent of the home’s value for minor and major renovations respectively. Even simple changes, such as installing energy-efficient appliances, can improve decorative appeal and reduce electric bills for bigger payback when it’s time to sell.
Crossroads Custom Cabinetry redefines the U.S. cabinet industry by making premium quality, custom cabinets widely available at greatly reduced prices. Crossroads' team of professionals are dedicated to empowering the home improvement consumer community with superior products at factory direct prices. Webinetry.com is a completely new channel ushering in a new era for the way today's American consumer can research, preview, budget, and finalize their cabinet purchasing decisions online.