Kitchen and Bath Remodeling
Kitchen and Bath Remodeling
<!-- @page { margin: 0.79in } P { margin-bottom: 0.08in } -->Getting the Most for Your Money with Kitchen and Bath Remodeling Projects
Kitchen and bath remodeling are the top two renovation projects for homeowners looking to upgrade their homes. Not only does a kitchen remodel or bathroom remodel offer the most visual impact in the home, but these projects also offer the best return for the money spent.
Kitchen remodeling projects offer an 85% – 95% rate of return on the investment, meaning the cost of the kitchen upgrade will result in a higher sales price or value in your home. For example: A kitchen renovation that costs $20,000 will result in a higher selling price or market value of $17,000 – $19,000 for your home.
As for bathroom remodeling projects, it is estimated that 80% – 100% of the cost can be recouped for the project. With the average mid-grade bath remodeling project costing $11,000, according to the National Association of Realtors, you may expect to realize an additional $8,800 – $11,000 in the value of your home.
With today's real estate market fluctuations, more homeowners are looking to add value to their homes with kitchen and bath remodeling projects. The upgrades and renovations that can offer the most impact for these projects include:
While bottom lines and rates of return are important considerations for kitchen and bath remodels, your personal preferences and comfort are certainly at the top of the list as well. The key is to balance preferences while keeping the impact of the project on the home's market value in mind.
Homeowners can weigh their options and choices according to how long they plan to reside in the home. Certainly if a home sale is looming in the next few years, choosing kitchen and bath remodeling projects that will appeal to potential homebuyers and offer high rates of return can pay off when the time comes to establish the market value and selling price of your home.
<!-- @page { margin: 0.79in } P { margin-bottom: 0.08in } -->Getting the Most for Your Money with Kitchen and Bath Remodeling Projects
Kitchen and bath remodeling are the top two renovation projects for homeowners looking to upgrade their homes. Not only does a kitchen remodel or bathroom remodel offer the most visual impact in the home, but these projects also offer the best return for the money spent.
Kitchen remodeling projects offer an 85% – 95% rate of return on the investment, meaning the cost of the kitchen upgrade will result in a higher sales price or value in your home. For example: A kitchen renovation that costs $20,000 will result in a higher selling price or market value of $17,000 – $19,000 for your home.
As for bathroom remodeling projects, it is estimated that 80% – 100% of the cost can be recouped for the project. With the average mid-grade bath remodeling project costing $11,000, according to the National Association of Realtors, you may expect to realize an additional $8,800 – $11,000 in the value of your home.
With today's real estate market fluctuations, more homeowners are looking to add value to their homes with kitchen and bath remodeling projects. The upgrades and renovations that can offer the most impact for these projects include:
- Updating fixtures and appliances: New plumbing fixtures and appliances can give dated bathrooms and kitchens a more modern look with more conveniences and energy efficiency.
- Updating tile and flooring: Tile is the most popular flooring choice for kitchens and bathrooms for homeowners and potential homebuyers. It offers an inexpensive flooring option with the looks and low maintenance to make it slip seamlessly into a remodeling project. Wood kitchen flooring and marble floors are the runners up in flooring choices, and expanded choices in these categories show these gaining in popularity with homeowners.
- Updating countertops: Granite is quickly becoming the kitchen countertop favorite due to its durability, sleek looks and low maintenance appeal. With granite countertop prices falling due to increased availability of the supply, it's making an appearance in many budget kitchen remodeling projects.
- Replacing cabinetry: Replacing and upgrading kitchen and bath cabinets can bring a whole new look to tired rooms. Built-in kitchen and bath cabinets with specialty functions are particularly popular for kitchen and bath remodeling projects.
While bottom lines and rates of return are important considerations for kitchen and bath remodels, your personal preferences and comfort are certainly at the top of the list as well. The key is to balance preferences while keeping the impact of the project on the home's market value in mind.
Homeowners can weigh their options and choices according to how long they plan to reside in the home. Certainly if a home sale is looming in the next few years, choosing kitchen and bath remodeling projects that will appeal to potential homebuyers and offer high rates of return can pay off when the time comes to establish the market value and selling price of your home.
