Increasing the Value of Your Home: Kitchen Edition

How to Increase the Value of Your Home with a Kitchen Update

1300786_51861087Look around – does your kitchen need an update? Not all remodeling projects are created equal, although kitchens can be the most costly room to redo, they are more likely to pay for themselves. But that doesn’t mean you have to spend a fortune – it’s good to know that even minor improvements can yield major dividends. And let’s face it – the kitchen is the center of the home these days. 

Assuming the layout of your kitchen is functional and has a good design, a kitchen facelift might be just what the doctor ordered.  Many experts feel a kitchen update or facelift — paint, refinishing surfaces, and upgrading appliances — will return more than a full redesign. The key to spending less is spending it wisely. Here are 3 ways to increase the value of your home with a kitchen update.

Paint
Whether you decide to paint your cabinets or the walls, putting a fresh color on those tired old surfaces is a cheap way to update your kitchen. Painting cabinets is cheaper and easier than re-facing, and it’s possible that you can finish the job in a full day’s work.  Make sure you take the time to properly clean, sand, and prime the cabinets, and use quality paint so your new look lasts.  Painting the walls just makes sense – it gives the room a fresh, clean feel and it’s an easy DIY project.

Refinishing surfaces
Re-facing your cabinets, which is replacing the doors, drawer fronts and hardware, and covering the sides and framework with stick-on veneer or glued-on plywood, costs a fraction of what buying and installing new ones would, and you can do it yourself over a weekend if you’re handy.  So if painting your cabinets isn’t a good option, perhaps re-facing is – you will have a completely new look without the mess and hassle of gutting your kitchen.  Countertops are another surface that can be upgraded and updated – and countertops make an enormous impact on the look and feel of the kitchen.  Depending on the product you choose for countertops, you may need to have them professionally measured and installed.

Upgrading appliances
Do you have miss-matched appliances? Spend some time researching what appliances make the most sense for you and your family – what your needs are for cooking and storing food and what your budget is.  Check into energy-efficient appliances as well, as they are attractive to many home-buyers and just make economic sense.

Often times, simply switching the hardware on your cabinets can make a dramatic effect on your kitchen – it can go from outdated to stylish with very little cost or effort.

However you choose to improve your kitchen, it’s important to have some idea of what your improvements might be worth, so make your decisions wisely.  In general, you can expect a 66% return on your remodel investment.  Use quality materials, call in the professionals when needed, and you’ll be satisfied with your end result.  You’ll add value to your home in the long-run and have a beautiful updated kitchen space to enjoy and use right away.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

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