Spending the amount of money it takes to update your home usually comes with months of planning, stress and rationalization. Whenever you weigh the pros and cons of a home renovation, the first question that a budget-conscious homeowner will consider is whether it will add returnable value to your home. This is especially true with a kitchen renovation, as this room is typically the most expensive renovation a home will receive. Unfortunately, that question does not have a simple yes or no answer.
At Prince & Sons, we’re constantly working on different types of kitchen renovation projects with a wide variety of budgets, so we know how quickly costs can add up and whether or not it’s “worth it” to renovate. We have put together a few tips that will help balance the scale as to whether a kitchen renovation can not only add value to any home, but your home.
If your primary goal in completing a kitchen renovation is to increase the resale “value” of your home, our team would tell you that you could be making a mistake. While a beautiful kitchen renovation could add significant desirability to your home, from an appraisal standpoint, your home value will not see a direct dollar for dollar increase. If you are upgrading your finishes, you will see a bit of an increase in value but the fact of the matter is, even if you renovate, your home will still have only one kitchen just like it had before.
Here are a few things to think through and consider before you sink a significant amount of money on a remodel.
If you’re interested in learning more about some of the benefits of a kitchen renovation, don’t hesitate to reach out to our team today by phone at 919-383-0888. You can also fill out our online form, which will help you to start thinking about the key questions that will determine what you’re looking for in a newly updated kitchen. We look forward to hearing from you soon.