You already know that a kitchen upgrade is one of the best ways to increase the value of your property. But did you know that kitchen renovation only POTENTIALLY improves your home’s value? There is no GUARANTEE that your home’s value will go up when you upgrade your kitchen.
Why is that?
All kitchen renovations are not equal in their impact on property value. Some projects will improve your home’s value more than others because of the higher demand for those types of upgrades, explains Paramount Management.
That is why you should be intentional when choosing the specific features to renovate your kitchen. Your choice should not be guided by your likes but by what buyers want and what they are willing to pay the most money for.
A guide for choosing kitchen upgrades that pay the most
Kitchens do more than serve as a place for preparing meals. They double a place for the family to gather, receive visitors, and stockpile food. Because we spend a lot of time in our kitchens, we want them to be comfortable and functional.
You want the kitchen to have a magnetic allure to it. Prospective buyers who walk into the kitchen should feel like sitting down for a cup of coffee or a chat. The space should make people want to try their hands on some new recipes.
But which kitchen upgrades will help you get this result? The following are the most profitable areas of the kitchen to focus on when doing upgrades:
1. The floor plan
This is not just about making the kitchen bigger or creating an open plan. It is mostly about improving ease of movement in the kitchen. Prioritize the placement of the different features of the kitchen. The goal should be to improve accessibility and make it easier to navigate the room. You can do this by removing or relocating some kitchen features or redesigning the entire floor plan.
2. The countertop
Countertops are essential for both functional and aesthetic reasons. You want your countertops to be tough enough to handle all the rough treatment they will be subject to, but you also want it to be a beautiful addition to the kitchen. When choosing countertops you don’t want to overlook the longevity of this kitchen feature. Choose a countertop that will stay valuable as it ages.
3. The kitchen flooring
The type of flooring you use in the kitchen will have a massive impact on the value of your property. The kitchen’s floor creates a canvas that the rest of the kitchen features sit on. The finest cabinets, sink, faucets, or appliances will not mean much if the flooring is not durable and attractive. Money invested in quality kitchen flooring is well-spent and will often result in an ROI of 90%-100%.
4. Quality appliances
When prospective buyers look at the appliances in your kitchen, they want them to fit or improve the overall design seamlessly. Accessories with multiple settings are more valuable. Kitchen appliances should also be durable. Buyers like kitchen gadgets that are modern so they won’t have to buy new ones.
5. Kitchen cabinets
Cabinets are all-encompassing. They cover massive amounts of wall space and have a tremendous impact on the kitchen’s appearance. Cabinets are a central aesthetic component of the kitchen, but their function as storage units is even more essential. In addition to having ample space, the cabinets should be versatile in ways that people can store things in them.
Examples of the best ways to upgrade your kitchen
A. Fix kitchen cabinets
If the kitchen cabinets are still in good shape, there is no need to replace them unless you want to increase the storage room. You can reface the cabinets or repaint them. Do not neglect to change the cabinet hardware when you do this.
B. Add a new backsplash
Yellowed grout on the old kitchen backsplash will hurt your home’s value. There are several options for a new backsplash; glass, mosaic tile, white subway tiles, and more. Choose the backsplash size and tile pattern to maximize impact.
Tile flooring is the best flooring material for your kitchen. It will last for many years. If this upgrade is beyond your budget, consider using water-proof vinyl planks. Being water-proof is ideal especially in kitchens and bathrooms. Vinyl has come a long way as far as look and application. A lot of vinyl have that ‘wood-look’ appearance and comes in array of colors. No doubt you would be able to find something to fit your lifestyle.
D. Replace the lighting
Lighting can make a kitchen look bigger, cramped, gloomy, or attractive and make working in the kitchen easier or harder. When upgrading kitchen lighting, be sure to include ambient, accent, and task lighting, if you want the most impact. You can also consider increasing the natural light of your kitchen space to improve the overall aesthetics of your kitchen.
E. A new kitchen sink
Ideally, this should be a stainless steel double-sink that serves as the centerpiece of the entire kitchen. Kitchen sinks are among those areas where you cannot afford to cut corners. Apart from the size and beauty, the quality of plumbing hardware on the sink is vital.