Value Added Kitchen Upgrades
The kitchen is often described as the heart of a home. Similar to our own hearts, this room is central to a family’s existence, nurturing us with both food and love. The kitchen is where family and friends gather to cook, eat together, complete homework, and settle arguments.
For many of us, because we spend a significant amount of time in this room, it’s where we look to make upgrades. Perhaps we want the love we feel for this space to be reflected in its décor.
Homeowners often consider kitchen upgrades, but what if this isn’t your forever home? What refreshes or renovations can you undertake that won’t deter a sale later on? Moreover, what upgrades are desirable when you’re looking to sell?
Where exactly should you spend your money? Sometimes, the balance required is considering what improvements you want in your kitchen that the next homeowner might appreciate too. Who should you consult to make this decision easier?
Ask the Experts
According to RIS Media, the real estate industry’s online source for the latest news and trends, 80% of homeowners say the kitchen ranks in the top three rooms purchasers want to see updated. In other words, completing those upgrades could very well help sell your home in the future.
However, caution is necessary, as the kitchen is also viewed as one of the most likely areas of the home to make or break a sale. Renovations that are incomplete, poorly executed, overly trendy, or not neutral enough may deter potential buyers.
Regarding which kitchen upgrades will yield the highest ROI (return on investment), there is a distinct trend. RIS Media reports that 56% of homeowners believe a cosmetic remodel will have the highest return. Such a remodel includes non-invasive changes like new backsplash, countertops, paint, or refaced cabinets.
An example of an easy kitchen upgrade is new hardware, which is inexpensive and surprisingly effective. Dated handles and pulls can be replaced in an afternoon, giving your kitchen a contemporary touch.
Investing a small amount of time and money now can give your kitchen a fresh look and help sell it later. Experts suggest that these minor kitchen upgrades can recoup 80% at the time of sale, whereas major projects tend to recoup only about 60%. Bottom line: cheaper, faster renovations often have a larger impact when listing your home.
Ask the Average Person
A recent poll shows that the top three features people envy in other people’s homes are all in the kitchen, highlighting the great ROI potential of kitchen renovations. The number one envied feature is a walk-in pantry, which can be a costly endeavor. However, knowing that potential buyers are envious of extra storage space can work in your favor.
Instead of creating a pantry, invest in floor-to-ceiling shelving to enhance kitchen storage. Use decorative baskets on the shelves to maximize organizing capabilities. Do you have free wall space? Install floating shelves. They look great and utilize otherwise wasted space.
The second most popular kitchen upgrade is stone countertops. This choice is relatively easy and inexpensive. In terms of desirability, natural stone like granite and man-made stone like quartz are equally appealing to homeowners and potential buyers. This type of renovation can instantly update any kitchen, even one with other dated features. Potential buyers view these countertops as easy to clean and maintain, adding to the desirability of the upgrade.
The third most popular upgrade is a kitchen island. Homeowners and potential buyers covet the extra counter and cupboard space. If installing a permanent island isn’t in the budget, create your own. Ready-made kitchen cabinets or tables can be transformed into islands with the addition of wheels. Install towel racks and additional shelving, and your new kitchen island is ready for service. This simple, creative solution can turn a small kitchen into a more functional space, and as a bonus, it can move with you to your next home.
Ask the House Hunter
What don’t potential buyers want in a kitchen upgrade? Real estate experts reveal that house hunters aren’t looking for a breakfast nook. While cozy, this space is now more valuable when used for extra countertop and cupboard space.
Although stainless steel appliances still appeal to the masses, high-end, state-of-the-art appliances are not desired in kitchen upgrades by homebuyers. Purchasing a new “smart” fridge that connects to your home network can cost more than twice as much as a regular stainless steel refrigerator. Allocate this money elsewhere in the renovation, as potential purchasers are more likely to want to splurge on their own high-end kitchen upgrades that fit their lifestyles.
The kitchen is often a multifunctional, well-used room. Showing it love with a kitchen upgrade is money well spent. Knowing where to spend that money, especially if this isn’t your forever home, requires some research. Armed with the facts, you (and the next homeowner) can enjoy an up-to-date space while still reflecting your style and love for your home.
Spending your kitchen upgrade dollars wisely can pay off both in the enjoyment of your refreshed kitchen and in the impact at the time of sale.
For those looking to deepen their understanding and skills in home decoration and redesign, particularly in suggesting kitchen upgrades for clients, consider enrolling in Ultimate Academy®’s Decorating & ReDesign course. This course offers comprehensive training to turn your client’s vision into a reality, enhancing spaces with practical and stylish solutions.
