How To Maximize Your Property Values with Professional Kitchen Renovations

  • 8 months   ago
How To Maximize Your Property Values with Professional Kitchen Renovations

Whether you're a house flipper looking to increase the assessed value of a new purchase, or you're a homeowner looking for the most worthwhile upgrades to make to your space, you really can't beat the value of remodeling or upgrading your home's kitchen. Starting with this upgrade in your home is the best way to make it worth more and also to create a space that you'll be more excited to live in. 

One of the Most Effective Way to Raise Property Values when Done Right

Other than simple cosmetic enhancements like adding a new coat of paint, or specific performance upgrades like insulating an uninsulated attic, renovating your home's kitchen is the best way to up its resale value. That's because many buyers consider the kitchen as the centerpiece of their home, and they will judge the overall value of a house based on how nice the kitchen is as well. 

Consider Your Price Point

Renovating your kitchen is an excellent way to make your home worth more, but only when you do it the right way. That means considering your home's current value and typical resale values in your neighborhood. If your home is currently worth $150,000 and typical houses in your area sell for $160,000 that doesn't leave you with a lot of room to increase the value of your space. However, if you have a house worth $45,000 in an area where homes go for $160,000 then you have a huge ceiling that you can raise your home's value towards. You must consider how much you could get for your home once upgraded before you decide on how much you want to spend on enhancing your kitchen. By doing this research you can decide if you'll invest in major kitchen renovations like premium appliances and granite or quartz countertops, or if you should just refinish the cabinets and install decent-looking laminate counters. Only make upgrades that you can recoup on resale if you plan on selling your home anytime soon!

Which Renovations Should You Focus on

When you plan out your kitchen renovation project take the time to decide which renovations you should focus on first. Always focus on cosmetic enhancements first because these are the changes that will raise your home's value the most for your money. This means replacing worn flooring,  adding fresh paint, swapping cabinet hardware and refinishing surfaces throughout the space. Once you've made the simple upgrades, you can look to your budget for more major changes like new countertops, recessed lighting, replacement cabinets, and new appliances. Look at homes for sale in your area for an idea of the upgrades you need to remain competitive, then decide on the enhancements that will make your home into the best product for your area specifically. 

Get the Functional Kitchen You've Always Wanted for Your Home

Not only is a kitchen renovation project an excellent method for raising your home's value, but it's also a way to make your home more enjoyable to live in. Think about the upgrades that you'll love most while you continue to live in your space. Consider adding a dishwasher or garbage disposal if you've always wanted one. Think about those new countertops that you love, or adding an island with seating for your children to eat breakfast at. Unless you're selling off your home in the next year, you need to make improvements that you'll love too, so consider the features that mean the most to you as well when planning your renovation project. 

Sell Your House Faster

When done properly, high-quality kitchen upgrades will help your home sell for more money but also sell faster. If prospective buyers are wowed by the kitchen, they're going to be more likely to decide to close on your house fast, which means you can spend less time selling your space and more time looking for your next home. 

When you work with a professional company, and you plan your kitchen upgrade project well, you can raise the resale value of your home all while making it more enjoyable to live in for yourself. Just make sure you consider your home's potential resale value, think about your renovation budget and work with proven professionals so your renovation offers you as much as possible for what you spend on it. You'll be glad you took the extra time and spent a bit more when you finally go to sell your home.