Minor kitchen remodels can boost a home’s value and earn a return on investments for about 83 percent or more. Resurfacing your kitchen cabinets or changing their hardware, applying fresh paint, updating the counter tops or replacing some appliances can boost a home’s value enough to be able to pay for themselves. On average, every $100 spent on a small remodel could increase value by $83, which is much higher compared to other home renovations.
Major vs. Minor Kitchen Remodel
Using a Bay Area general contractor, these upgrades come with numerous benefits like the fact that you get to enjoy your kitchen a lot more, increase the value of your home and be able to command a higher price for it when the time comes to sell.
You should not confuse minor remodels with major ones, which could include everything from replacing all the counter tops, appliances, vents, sink, fixtures and adding other things like a big island and new floors. These are major overhauls that could cost you up to six figures.
A major kitchen remodel by a reputable Castro Valley building contractor will also add value to your home, but not always as much as you put into it. With major remodels, your ROI will be between 59 to 68 percent, depending on the market and comps. Major remodels are better if you do them for personal enjoyment, and not financial reasons. I.e. they pay off better if you’re planning on staying in your home long-term.
What to Consider When Making Kitchen Remodels
When deciding to embark on a kitchen remodel, it’s advisable to contact a local company who specializes in Bay Area kitchen remodeling. Talking to them will also help to understand how much of the costs you could expect to recoup once you make specific changes to your kitchen. If you have one of the older homes on the block, and want to bring your kitchen up to date with the comps, a large remodel can really pay off.
It is also advisable to find out what the other homes in the neighborhood are selling for so that you know the limit to what potential buyers will be willing to pay for your home. This will help you establish a realistic budget since you want your listing price to be consistent with other houses in your neighborhood.
Paying For Those Minor Kitchen Remodels
There are several ways you could finance your kitchen remodel, from using your personal savings, to refinancing and opening up a home equity line of credit. All you need is to ensure you pick renovations/upgrades that add the most value to your home. A minor kitchen remodel is one of those instances because you’ll be able to recoup a large portion of the investment.
See Also: Top 9 Kitchen Design Trends for 2018
Contact Our Castro Valley Kitchen Remodeling Pros Today
B.A. Morrison’s construction department is dedicated to providing the highest quality service. Our team of craftsmen has helped us build a solid reputation in Castro Valley, as well as the surrounding San Francisco, East Bay Area. Contact us today at (510) 538-9817 or via our online contact form for more info.