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Modern homeowners don’t just treat the kitchen as an area limited to food preparation. They also see this part of the house as a place where they can communicate and have fun with their family and friends. However, you should never ignore this part of the property if you plan to sell your home. Renovating your kitchen can help increase the market value of your home.
Here are three reasons to inform you about the importance of remodeling the kitchen for increasing the curb value of your home.
Increases Return on Investment (ROI)
Many home buyers will think about everything about the cost of buying a new home. Therefore, it is only fair to set a reasonable price for your home if it offers amenities and features that add comfort and convenience to new residents.
Provide your home with a renovated kitchen. So when a home surveyor arrives, the professional can offer an excellent price for your modest accommodation.
You will clearly see the potential growth in the price of your home if you allow it to complete kitchen renovation. For example, replace an old kitchen worktop with a new model. Investing in this small remodeling project should cost you between $ 35,000 and $ 55,000. But a study states that you can get back about 60% to 80% of this investment if you sell the house with the new countertop. So if you spend $ 35,000 on this new kitchen surface, you can make an additional $ 21,000 profit after the sale.
However, keep in mind that your ROI still depends on several factors, such as the condition of the house and the current price of the property. Keep in mind that a small remodeling project will not add significant value to the house unless other areas of the house are in excellent condition.
Reduces the need for new devices
Prices are not everything when it comes to making a home more valuable. An excellent purchase value means that the customer benefits from the purchased product.
So if you add value to your home to increase its market value, you might not just want to clean the kitchen. You would also need to add new appliances as part of your kitchen renovation project.
Adding new devices such as ovens, refrigerators and mixers can increase the “joy factor” of the room. This score increases if the new residents are satisfied with the purchase of the property.
Keep in mind that home buyers will invest a lot of their hard-earned money to buy your home. This way, you can remove unwanted financial burdens from the bank accounts and wallets of the new residents if you offer your home a kitchen with modern appliances.
Add the new kitchen appliances during the price valuation of your home to increase the market value of the property. Don’t forget to include the cost of the devices to increase your ROI.
Increases demand
If you are someone about to buy a house, would you buy a house with a bland looking or fully renovated kitchen? Many buyers would prefer the latter option.
People love to enjoy the comfort of a home when the kitchen equipment is not broken, damaged or old. Opt for one modern kitchen renovation to bring additional joy to the new home owners.
Market your home by highlighting the redesigned kitchen so potential buyers can get interested in your offer. However, you may not have enough cash in your pocket for a full kitchen renovation right now. Fortunately, it is still possible to increase the market value of your home by doing small DIY kitchen remodeling projects.
For example you can:
- Swap furniture and hardware
Perhaps the table you bought 15 years ago is still in your kitchen. But this piece of furniture now has some bumps, dents and scratches. In addition, your old wooden cabinets now show signs of rotting.
Imagine the disappointment or disgust on the faces of your prospective buyers when they see these old items. Instead of trying to explain the value of these worn things, replace your kitchen furniture and hardware with new models. There are new kitchen cabinets and tables on the market today that won’t break the bank. So use this.
If you’re looking for inexpensive ways to renew your kitchen, updating the lighting is one of these solutions.
New lighting fixtures can work wonders for the room. These items are also one of the first things people see when they enter your kitchen. Install lighting that feels attractive and modern so that the whole room radiates a modern aesthetic.
You may have knowledge of painting surfaces. If so, painting your kitchen cabinets can be an excellent way to increase the market value of your home.
Repainted cabinets can be an easy and inexpensive way to turn a boring-looking kitchen into a room to spend hours while preparing food.
For example, your old kitchen could have a matte gray color that does very little to bring warm feelings to the area. Change this by painting it with earth tones like brown, green, or orange. These shades help create an inviting atmosphere in which the new homeowners can hang out and chat in the kitchen.
- Repair damaged or broken pipes
Leaking taps and pipes can give new home owners a headache. Do not try to sell the property if this problem occurs in your kitchen. Otherwise, this concern can affect the overall value of the home, thereby lowering its price.
You can repair the broken or damaged pipes using DIY techniques. If you are unsure about implementing these plumbing solutions, it is best to contact professional plumbers to deal with the situation.
Conclusion
Don’t forget to take high quality pictures of your kitchen after implementing these modern renovation projects. After all, it’s nice to hear a potential buyer say when they look at your kitchen, “It’s exactly like the picture”.
Modern kitchen renovation can help increase the market value of your home, increase ROI and increase demand. However, it is best to consider other factors such as economic indicators and the local real estate market. In addition, you should hire a reliable appraiser to determine the market price of your house. However, only perform this step after applying the right kitchen renovation solutions.
