Return of Investment for Kitchen Remodel
Now that the February 19th episode of HGTV’s Bang For Your Buck has aired, TrendMark’s thrilled to know that its remodel entry, the Agraz kitchen, had the greatest ROI (return on investment) of the three kitchens featured on the show! After analyzing the elements of the three Raleigh area remodels, Vern Yip, HGTV’s professional interior designer, announced that the Agraz project would bring 101% return on their investment, as compared to 84% and 90% for the other two kitchens shown on the program.
What gives the results long-term value? Regardless of whether you’re remodeling a home for your long-term stay or you want to sell it, you should still be concerned about the effect your efforts will have on the worth of the home. Nothing increases the value of a house like updated kitchens and bathrooms! However, as Vern Yip pointed out, “Don’t be too taste specific.” For instance, a kitchen with a bright red stove — maybe an element you love — might not generally appeal to other homebuyers. Your choice to save money by not putting in those granite countertops may turn away potential buyers should you try to sell the home. Even if you stay in the home for the long run, you may still regret not investing in that granite upgrade.
Yip provided a list of other items that can maximize your remodeling investment:
- Adding square footage is a major element; opening up a kitchen by removing walls is always a winning strategy;
- Using neutral materials so that the décor can be altered with the use of accent colors in window treatments, cookware, towels, area rugs, or dishes is preferable;
- Where possible, add nice custom materials. Scrimping on a faucet or range hood can ruin the overall look of the kitchen.
The value of a professional remodeler is really critical when a homeowner is trying to get the most out of their budget. By nature of the remodeler’s extensive experience in many other similar (as well as contrasting) projects, professional remodelers have concrete answers on remodeling value and which choices will bring the most bang for your buck. They have exposure to a wide range of products and sources that may be unknown to the homeowner, which can often transform a potentially mediocre remodeling effort into a WOW project!
The Raleigh Kitchen Remodel episode of Bang For Your Buck will be on again on April 14 at 2pm, May 2 at 3 pm, and May 14 at 2p; see HGTV’s Bang for Your Buck Website for complete listing!
7 Comments
I really enjoyed this post, especially the “examples in this post” portion which made it really easy for me to SEE what you were talking about without even having to leave the article. Thanks
I love your blog. I do remodeling for myself and many others for a living . This blog it great for learning and reading about remodeling. I found your site on Google.com. Keep up the excellent work !
In space-challenged kitchens, finding enough storage space is often a problem. Cutting back on your cabinets and opting instead for a walk-in pantry as well as removing those items that you hardly ever use are easy ways to make space for the items and appliances you do need in your kitchen. So move your china out of the kitchen and into the dining area; use this new found space for your pots and pans.
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I really liked this post. You write about this topic very well. From start to finish, your home builder should be working with you to make your dream home come true. Throughout the home-building process, you should always find them available to speak with you about any concerns you may have. They should be able to help you as much as you require in the decision-making processes. They should offer you many plans of all sizes or modify them to your unique needs. They should be able to even build to your own architectural wants, no matter the magnitude or range.
I recently moved into a new house and got the entire house remodeled. I love my new place, I had always dreamt of having a sunroom and I finally got one!!!