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Is It Worth Renovating My Kitchen?

Things to consider before a kitchen renovation.

Homeowners undertake home improvements to either improve their home’s resale value, or their own enjoyment of their house. The best home improvements are those that deliver on both objectives.

Americans will spend nearly $141 billion on remodeling in the first half of 2011, according to Harvard’s Joint Center for Housing Studies. If you are among the many homeowners opting to renovate rather than move, you may be wondering what renovations are likely to give you the best balance of enhanced resale value (return on investment) and immediate enjoyment.

One of the most popular rooms to renovate is the kitchen, where most families spend the bulk of their time. According to Remodeling Magazine, a minor kitchen remodel costing approximately $21,000, will return about 78 percent of its value on resale. A larger kitchen renovation, costing approximately $58,000, will recoup about $41,200, or 72 percent, depending on your demographic. Consult a realtor, or a local appraiser to analyze your specific home.

Once you've decided to renovate, several local businesses can help at all levels. on Main Street offers paints and wallpapers to completely change the look of your kitchen walls, or simply to add a trim or final touch. If you prefer a major renovation or to build an entirely new kitchen, in the same block of Main Street works with a team of designers and craftsmen to help owners install new cabinets, counters, stoves and ovens. They can also design new kitchens that work within your existing space.

There are many different options (and price points) available today in terms of cabinets, counters, appliances, backsplashes, flooring, lighting, something to fit every budget. The kitchen is the heart of the home, a major factor in determining the resale value of a home, and a renovation, if necessary, can add new life to a house.

Stan Horst April 25, 2011 at 11:32 AM
So true...the first paragraph that states the best home improvement projects are those that increase your own enjoyment of your home, while increasing the resale value. Another way to think of this is to ask yourself, "How long are you planning to remain in this house?" before embarking on any project. That way you have a clear picture of who the remodeling project is for. If I'm thinking of leaving within the next couple of years, I'll want to only choose projects that have a high recovery value, and make sure that they are done to appeal to the largest number of home-buyers. On the flip side, if I'm planning to remain for quite some time, I can personalize things a little more, and make improvements strictly for my own enjoyment. Of course, projects that do nothing to increase the value of your home should be avoided, unless you plan on never leaving. Stan Horst Publisher: BetterBenches.com
Patrizia Giassa April 25, 2011 at 07:19 PM
Funny how one question always leads to another? If you are considering a kitchen or other renovation, do not think solely with resale in mind. Unless you're about to sell - in which case do nothing without consulting your real estate agent. Most renovations should be done to please yourself first, everyone else (ie: potential buyers), second. When considering highly personal choices, such as tile and wall coverings, choose neutral tones that can be personalized with accessories. This will serve you and your home's future buyer best. As your needs and tastes change, you can change the "flavor" of your home simply by changing accessories. And, when it is time to sell you won't lose someone just because they don't have the same exact taste as you do. Keep it simple, don't overspend (or if you do, enjoy it because you may not get it back) and enjoy your renovations and home! Trish Giassa www.ChathamNJonline.com
John April 26, 2011 at 12:58 PM
If you are thinking about renovating your kitchen, use a company called green demolitions. They are nonprofit that sells whole rooms that people donate. If you have a nice kitchen they will come, take it, resell it and give you all the tax forms for a donation up to 5000.00. Check out their website @ www.greendemolitions.com

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