The return on investment for a kitchen remodel repeatedly tops the list of projects that deliver more bang for the homeowner’s buck.
Of course, there are a few key factors that play into determining the ROI of a kitchen remodel. Let’s take a look.
Cost (or Value)
The first factor to consider regarding the return on investment for a kitchen remodel is cost versus value. Far too many homeowners launching their first remodel tend to bargain-shop, and that’s mistake number one. Sure, fly-by-night outfits can maybe get the job done under budget – frequently with underwhelming results. Their wallets may be slightly heavier by the end of the project, but their home is now riddled with costly new problems that could take a fortune to reverse. Investing in quality materials and quality craftsmanship almost always pays off in the long run by increasing the longevity of your remodel and the resale value of your home. Keep in mind, cost is not the end-all, be-all of any remodel. A design-build remodeling specialist can help you determine the best course of action for your home.
Location plays an equally critical role in determining how much of a return your remodel will ultimately yield. For example, homeowners who live in an area with higher property values and then invest in luxury upgrades like custom countertops and high-end appliances will likely garner a greater return on investment than those families who live in an area with lower property values.
Timing Is Everything
Finally, if you plan on selling your home soon after completing your kitchen remodeling project, it’s important to make certain that all upgrades fit within current trends and styles so that potential buyers are drawn to your property thanks to its upgrades. This is where consulting with a home remodeling professional is imperative. Experienced contractors have their fingers continuously on the pulse of industry trends and fashions and can help you update your home to flawlessly fit the signs of the time.
Conversely, if you plan on staying put for years to come, that same contractor can help you focus solely on creating an evergreen design that will stand the test of time while allowing for ample wiggle room when it comes to worrying about the wants and needs of potential buyers down the road.
Make no mistake: luxury kitchen remodeling projects are neither small nor inexpensive investments. But when it comes to money well spent, the return on investment for a kitchen remodel frequently cannot be matched. Taking the aforementioned factors into account will help ensure that whatever updates you choose are efficient and rewarding for not only your family but all future families who live in your home.
Cossentino & Sons specializes in luxury kitchen remodels. Reach out to our team today to learn how we can help you.