If you’re planning to sell your home in the near future, you may be wondering which home improvements will offer the best return on investment (ROI). A new roof or energy-efficient windows are always a good bet, but if you really want to get the most bang for your buck, consider kitchen remodeling. You can try here Kitchen Remodel Contractors
Kitchen remodeling is one of the most popular home improvement projects because it typically offers a 70% ROI, according to Remodeling magazine’s 2020 Cost vs. Value report. That means if you spend $10,000 on a kitchen remodel, you can expect to recoup $7,000 of that when you sell your home. Not too shabby!
And while some kitchen remodels can cost upwards of $100,000, you don’t need to spend that much to see a significant return. In fact, even small kitchen remodels can go a long way in terms of improving your home’s value. Here are a few kitchen remodeling ideas that will give you the biggest ROI.
- Reface Your Cabinets
One of the quickest (and most budget-friendly) ways to give your kitchen an updated look is to reface your cabinets. This involves replacing the Cabinet doors and drawer fronts with new ones that coordinate with your existing cabinets. You can also add some new hardware for an even more drastic change. Cabinet refacing typically costs around $6,500 and offers an ROI of approximately 82%.
- Paint Your Cabinets
If you love your existing cabinets but they could use a little sprucing up, painting them is a great option. For this project, we recommend using a semi-gloss paint for durability and easy cleanup. You can also choose from a variety of colors and finishes to create the exact look you want for your kitchen. Painting your cabinets typically costs around $2,000 and offers an ROI of approximately 80%.
- Add New Hardware
One of the easiest ways to breathe new life into your kitchen is to simply add new hardware to your cabinets and drawers. This could include anything from new knobs and pulls to hinges and latches. You’d be surprised how much difference such a small change can make! Adding new hardware typically costs less than $200 and offers an ROI of approximately 80%.
- Update Your Backsplash
A backsplash is both functional—it protects your walls from splashes and spills—and aesthetically pleasing. If your backsplash is outdated or in poor condition, updating it is a great way to improve both the look and value of your kitchen without breaking the bank. Replacing a backsplash typically costs less than $1,000 and offers an ROI between 50% – 75%.
- Install New Lighting
Proper lighting is essential in any room in the house but especially in the kitchen where cooking and food prep take place. If your kitchen lacks adequate lighting or if its fixtures are outdated or damaged, now is a great time to install some new lighting. This could include anything from pendant lights over an island or peninsula to undercabinet lighting or even recessed lights in the ceiling. Installing new lighting typically costs between $500 – $2,500 depending on the type and number of fixtures being installed and offers an ROI of approximately 50%.
These are just a few ideas to get you started on your kitchen remodel. No matter what type of changes you decide to make—big or small—you can be sure that you’ll see a nice return on your investment when it comes time to sell your home down the road! And if you need help getting started, our team at Lion Group Construction would be more than happy assist you with all your kitchen remodeling needs! Contact us today for a free consultation!