One of the biggest questions homeowners ask themselves when considering a major home improvement project is this: “How much of our investment will we recoup in terms of home value?”
And the answer, of course, isn’t always cut and dry.
But one thing is for certain: Kitchen renovations are at the top of the list in terms of consistently providing a 75-120% return.
Improving your kitchen is a much wiser investment than more extravagant additions like a swimming pool. Here are four reasons why.
1. It’s the heart of the home
The same reasons you are dying to upgrade your kitchen make your home more attractive to prospective buyers, too. It seems like everyone fancies themselves an amateur chef these days, and with all the time we spend in the kitchen, there’s a reason why it should be one of the most luxurious rooms in the house.
A top-of-the-line kitchen with stunning countertops, a flashy new sink and faucet and energy-efficient appliances provide all the wow factor you need to generate interest in buyers who visit your home.
2. It increases your market reach and helps you sell faster
While a small percentage of the market shops for fixer-uppers when looking for a new home, the vast majority of homebuyers are looking for move-in-ready properties. They don’t want to “get to work” as soon as they move in. They want to unpack their boxes and have their new home ready to go.
By appealing to a broader base of buyers you’ll shorten the time your house sits on the market. The more people with interest in your home, the more money you can get for it.
3. It gives a greater perception of overall value
When visiting a property, prospective buyers tend to make a beeline for the kitchen. After curb appeal, your kitchen is the second most important facet of your home for creating an awe-inspiring first impression.
Buyers will gauge the overall price range of your home based on their initial feelings during the first few minutes after walking through the door.
A luxury kitchen invokes impressions of a luxury home, ensuring that buyers see the rest of the house in a more favorable light as they continue their tour from room to room. On the contrary, an outdated kitchen will create the perception that your entire home is outdated, even if you’ve upgraded other portions of the property.
4. Upgrades are easy to recognize
While nothing screams “never been upgraded” like ratty old ‘70s-style shag carpet, an out-of-mode kitchen is a glaring cue that your property features all of its original gear.
Most homeowners have undertaken at least partial kitchen renovations before, making kitchen improvements very easy to spot.
While a new heating system or upgraded wiring are great selling points for your home, these just aren’t the things buyers notice right off the bat.
But a gorgeous Brizo SmartTouch® Technology kitchen faucet? Yeah, they’re gonna notice. Right away.
