However, the best reason for a kitchen remodel is increasing the value of the home for you. In December, the National Association of Realtors and the National Association of the Remodeling Industry jointly published their first ever Remodeling Impact Report. They found after completing a kitchen remodel that:
- 90% of homeowners said they had a greater desire to be at home.
- 86% said they experienced increased enjoyment at home, and
- 93% acquired a major sense of accomplishment after the project was complete.
Nonetheless, the report showed that a kitchen upgrade and a complete kitchen renovation are the number 1 and number 2 projects with the most appeal to buyers, respectively. Of projects that add the most value to a home resale, a complete kitchen renovation is in the first place, and a kitchen upgrade is in second.
A kitchen upgrade that costs $30,000 adds an estimated $20,000 to a home’s sale price. A complete kitchen renovation costing $60,000 increases the value of your home by an estimated $40,000. The only projects that come close to increasing a home’s sale price are bathroom renovations or addition.
If you would like to talk more about how a kitchen remodel can help sell your home, or need more information, please contact us.