The kitchen might simply be falling apart. Cracked tiles, peeling countertops, broken or missing cabinet doors and outdated appliances don’t inspire gourmet cooking or family gatherings. The deteriorated kitchen has simply outlived its usefulness and needs a remodel.
Homeowners often remodel their kitchens to increase the value or marketability of a property. A remodeled and attractive kitchen will appeal to prospective home buyers more than a boring and outdated one. The homeowner may or may not recoup the investment of the remodel; this will depend on a variety of factors, such as the degree of the remodel and current market prices. In fact, according to a U.S. News Money report, 82.7 of the cost of your remodeled kitchen will go towards the increase in your home’s value.
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Energy savings might be the prime motivation for a kitchen remodel. Adding skylights brings in more sunshine, reducing the need for artificial light. Energy-efficient appliances and solar water heaters cut the utility bill and place less stress on the environment.
The kitchen can be pristine yet outdated. If the kitchen says 1950s, but you want to live in the here and now, it is time to transform your retro kitchen environment into a room for the 21st century.
The kitchen layout may have worked great for the previous homeowner, or for you 10 years ago, but not for you now. Perhaps it lacks a breakfast bar, and your family wants to gather informally in the kitchen to enjoy coffee or grab a quick meal without going to the dining room table. Whatever the reason, one motivation for a kitchen remodel is to arrange the room to best suit the family’s needs.
It is sometimes necessary to remodel the kitchen to better accommodate the needs of disabled family members. For example, if one of the family is in a wheelchair or no longer able to reach high cupboards, a remodel can make the room more usable.
The prime motivation behind a remodel might simply be financial incentives, such as energy-saving rebates offered by government entities or vendors. Financial incentives include sales at home improvement centers, cash rebates for trading in outdated appliances, remodeling grants and low- or no-interest loans.
Some homeowners simply want change. The current kitchen might be functional, updated and attractive, yet no longer appeal to the homeowner.
Home Improvement TV
Watching home improvement shows on cable television inspires many homeowners to remodel their kitchens. They may never have considered such a project until a home improvement program showed them the possibilities for their kitchen.
For a homeowner who enjoys preparing fancy meals and considers himself a gourmet cook, the prime reason for a remodel is the desire to create a dream kitchen. A gourmet kitchen with fancier amenities than most accommodates the cook’s needs. Homeowners looking to increase their homes’ values sometimes find themselves considering which improvements are the best investments. Major home improvement and remodeling projects aren’t cheap, so realizing the best value for the dollar is vital. As a major home improvement, kitchen remodeling ranks well in terms of delivering a return on investment. Depending on the housing market and the type of improvements made, a kitchen remodel can boost a home’s resale value very
How Kitchens Fare
Though they’re expensive, major kitchen remodeling projects deliver solid cost-to-value ratios for homeowners. A February 2012 article by United Press International reports a major kitchen remodel tends to fare better than bathroom remodeling when it comes to improving home value. Kitchen remodeling returns nearly 69 percent of its cost vs. 57.2 percent for bathrooms. The National Association of Realtors also ranks a well-designed, sensible kitchen remodel as the best home interior remodeling project for increasing a home’s value.
The Market’s Role
Whether your kitchen remodeling project will substantially improve your home’s resale value depends on your housing market’s strength. Anemic housing markets take their toll on home resale values, while a robust housing market helps home improvement projects deliver a better return on their initial costs. In weaker housing markets, minor kitchen remodeling projects, or those costing just under $20,000 on average, rank near the top in dollar-for-dollar returns among all updates, according to 2011 data from “Remodeling” magazine.
Typically, minor kitchen remodeling includes new cabinet doors and drawer fronts, appliances and countertops. No plumbing is rerouted or created and flooring improvements are very limited. If you’re on a budget but want to improve your kitchen, consider just repainting the walls and cabinets and thoroughly cleaning the flooring. By itself, just replacing tired-looking kitchen cabinets adds immediate home value improvement. Mid-grade painted kitchen cabinets with newer features such as soft-close doors are affordable and may even add value comparable to high-line cabinetry.
If No Profit There are Other Benefits
Major kitchen remodeling and other home improvement projects usually don’t return actual profits to homeowners, but rather insure your home’s value goes up and will be easier to sell. However, well-done home improvement projects tend to help the homes having them sell quicker. The home improvement website “HomeSavvi.com” interviewed several real estate experts and found that home improvements help homes sell faster.