Two Words Which Will Enhance Your Home’s Resale Value; Kitchen Upgrades
Picture this scenario. Your family’s house, which you have occupied for more than 20 years, will be on the market to be sold and it will be a massive blow to all of your family members who called it Home. But despite the waves of nostalgia, you would be bidding adieu to years of amassed rubbish and kitchen knick-knacks; you wonder why you had 10 colanders in the first place. But apart from cleaning up, there is an urgent need to carry out repairs and upgrades, solely to entice prospective buyers. In this case, starting with the kitchen, one of the most used rooms in an average home, because it needs some serious TLC and can help you push up your asking price. According to the experts, the kitchen is actually the best room on your property to upgrade, that is when we speak in terms of your return on the initial investment made.
Why Kitchen upgrades matter
The 2017 Remodeling Impact Reportis a joint report by the National Association of the Remodeling Industry and the National Association of Realtors. It says that 54% of the realtors recommend that sellers finish a kitchen upgrade before even contemplating to sell a home; and 23% said that a kitchen upgrade project actually helped closed home sales in recent years. The problem is that the average American does not have mounds of cash lying around. Or what if theentire kitchen does not need beautification. So what are your options then?
Managing More on Less
The NARI/NAR report approximates that an entire kitchen upgrade costs around $35,000, but 57% of the estimated costs (i.e. $20,000) can be recovered when you finally sell the house. However, experts say that limited budgets (and low energy) are never a limiting factor as there are many small-scale kitchen upkeeps and replacements that easily boost and increase a property’s overall value. All you need to know is the size of the budget to can spend, before making any decisions.
You can never think of buying a car until you have a budget and price range in mind, something that you’re comfortable with, without breaking the bank. Else, you start looking at the most exclusive cars and then any car in comparison to those, will be termed as unacceptable. Fundamentally, do not overwhelm yourself. If you are not sure about reasonable costs, you can ask an experienced and professional remodeler to make an assessment. They will identify which projects are doable and also provide an estimate of how much damage to your pocket each mini-makeover project will cost. Here are three options for you to consider;
Should you happen to be financially well off and are considering a total kitchen revamp; one of the very widespread ROI-focused renovations, is heavily influenced by the shows we watch on the Food Network. With more homeowners trying their hand at becoming the next Mario Batali, there is a soar in the demand to get a hi-end chef’s kitchen. As we know, a chef’s kitchen usually needs a very fancy high cost, high-end appliances like a high BTU cooking range, a Sub-Zero freezer and refrigerator, multiple ovens, warming drawers, numerous sinks, and sometimes just one dishwasher isn’t enough. The home listing website Zillow reports that a modernized chef’s kitchen could increase the final selling price of your prized residence in excess of 21% of what you may have initially expected.
Of course, if you’re a high-stepper and a high-budget dreamer but temporarily on a dollar menu budget, you have to make some minor adjustments. Experts suggest taking on at least one of the following projects:
- painting and refinishing your kitchen cabinets
- out with old hardware and in with new
- fitting affordable, modern floor tiles
- redoing the old countertops
- adding additional illumination (fancy word for lighting!)
- installing a new backsplash
- replacing all plumbing fixtures
You can do all of these projects for about $5,000 depending on where you live; a pretty expansive but inexpensive kitchen facelift which will eventually get you great dividends. If you wish to sell your house, then refurbishing is likely to cover it’s cost entirely because of the enhanced resale value. It is a very affordable way to not walk away from the money, which can be offered to you when the time to sell comes.
If you think that your budget is only enough to pay for a new color job, that too works and the color you choose for your kitchen walls, really matters. According to Zillow, the wrong color and shade can result in a loss when the sale happens. In their yearly analysiscarried out about paint color, they found that kitchen cabinets which have different colors for the lower and upper halves, sell for a premium of $1,547. A simple and clean white top with black or dark blue cabinet bottom is one of the most preferred color combinations, while painting your cabinets red, frequently costs homeowners a loss of $2,310.
More inReal Estate & Mortgage
You will be Shocked to Know that THESE Celebrities can Influence the Stock Market!
Not too long ago, Kim Kardashian West took to Twitter to report the untimely death not that of a family member,...September 3, 2019
These Luxury Yachts are Nothing Like Any Ship You’ve Seen Before
There are certain new cruise ships with unique amenities, high technology design features as well as exciting itineraries that many will...September 2, 2019
Airline Tickets: How to Save Money on Them
If you aren’t acquainted with how flight tickets are priced and the explanations behind them, they can be costly. There are...August 30, 2019
Celebrity Parenting Hacks Revealed: Some of These are Just Brilliant – Part I
That parenting is tough work is not the best-kept secret especially in those awful early years when parents are sleep-deprived and wild-eyed every...August 28, 2019
These Powerful Couples Are Making It Big in Tech Industry and How!
The tech industry in the US has been thriving more than ever. By providing employment to 11.5 million workers, the tech...August 27, 2019
Move over Beyonce, Madonna and Britney… Rihanna has the Most Moolah!
RiRi or Rihanna is hailed as the ultimate Queen in the music industry. With a net worth of $600 million, she is...August 26, 2019
You May Think You Don’t Need a Mortgage Broker, But You Just Might
Buying a home is a one-off process for most people and a range of complex decisions need to be taken and...August 23, 2019
This is why 37-year-old Meghan Markle’s Pregnancy is Being Called ‘Geriatric’!
A new royal infant has arrived, as Kensington Palace broadcasted that Duchess Meghan safely delivered her baby in May of 2019. The...August 21, 2019
The Story of this American Teen who Fell for an Indian Prince has a Heartbreaking Ending
Hope Cooke, a student of Sarah Lawrence College, New York was 19 and doing a typing course in Darjeeling, India, in...August 20, 2019