According to Moving.com, a major upscale kitchen remodel returns 53.9% of the money invested. Remodeling your kitchen with mid-range fixtures has a 58.6% return on investment. If you do a minor kitchen upgrade with mid-range fixtures, you'll see a 77.6% ROI.
Spacious and modern storage units were found to be the best kitchen feature to increase property value, with 72% of experts choosing this. This is followed by fitted energy-efficient appliances, with 66% of expert approval.
If you are looking for an easy way to instantly increase the value of your home, then adding a kitchen backsplash is a great idea! A backsplash will not only add charter and charm to your home, it increases the value of your biggest home asset—the kitchen! The good news is that tile doesn't have to be expensive.
On average, this trend alone can boost a home's value by $1,547. By painting your kitchen cabinets and then pairing them with some new hardware that dollar amount can increase significantly.
Having white cabinets in your kitchen will make your home more appealing to potential buyers and could increase its resale value by thousands of dollars. If you're thinking about selling your home and want to make it more attractive, white kitchen cabinets are a great choice.
Remodeling your kitchen increases home sale value. According to Remodeling Magazine, in 2021, minor kitchen renovations like replacing appliances, repainting, countertop upgrades, and new flooring typically recouped 72.2% of their cost in the home's resale value.
As a rule of thumb, a kitchen renovation budget should be around 3-8% of a home's value. Therefore, if your home is worth $500,000, you can safely spend between $15,000 and $40,000 without overcapitalising.
“A broad rule of thumb is that you should spend about 5 to 15 percent of your home value on kitchen renovation,” says Dan DiClerico, a smart-home expert for HomeAdvisor, a home improvement platform in New York City. “So, if your home is worth $300,000, you should spend $15,000 to $45,000 on the kitchen.
Your home's proximity to grocery stores, public transportation, schools, and restaurants affects your appraisal value. In general, the higher the market value of your location, the higher your appraisal value.
So how much value does a new front door add? According to Remodeling magazine, replacing your entry door has an average ROI of 74.9%. With that ROI, you could potentially add three-quarters of the front door cost back into your home's value.
The higher the home's value, the more buyers will expect to see high-end appliances in place. Lower estimated values will cater to buyers who are on a tight budget, and they may not like the idea that they're paying more for a house due to its luxury appliances (which many of them might feel indifferent too, anyway.)
Crown Molding can lead to increased home value and a positive ROI depending on how much you have invested in the project. Many homeowners want easy projects that will increase their resale price, and you can do that by adding crown molding.
“Consider white tile, chrome or nickel fixtures, a white porcelain shower and tub, and efficient low-flow toilets and new piping,” says Dogan. “A renovated bathroom can add up to $50,000 to the value of your home,” for a dream renovation with top-of-the-line additions.
Your kitchen could be less valuable on resale According to a recent study by an online real estate company, homes sold in states with warm yellow-colored kitchens are sold with the highest value premiums. In total, they went up by $1,360.
Almost a third of home buyers — 32 percent – want white cabinets, not much higher than the 26 percent who prefer a medium brown cabinet color (Figure 1). Significantly smaller shares of home buyers want dark brown cabinets (13 percent), gray (10 percent), beige (8 percent), or black cabinets (5 percent).
Light neutrals are the most popular choice, with 27% of survey respondents reporting that having a white kitchen would make them more likely to buy a property, followed by 22% who would be swayed by a light grey kitchen. More surprisingly, bold colourways like black and dark blue also made the list.