Will A Kitchen Renovation Really Increase Your Home’s Value?
A kitchen renovation is a great idea, not only will it revitalize the center of your home, but it’ll also increase your kitchen’s functionality and make it easier to entertain guests, but does it actually add value to your home?
When doing a kitchen makeover, this could be the last thing on your mind, but you should be aware of how much this change to your home will benefit you in the long run, if at all. Ideally, any renovation you do on your home should result in an increase in its value, but there are some things people do to stop this from happening.
So read on to find out what you should keep in mind to help make the reno worth it.
Know If You’re Renovating To Stay
If you’re renovating a kitchen for personal reasons you should be considering mostly your needs and preferences over that of a prospective homebuyer. This means you can make all the changes you want, based on your own functional needs. So if you don’t want a dishwasher, you don’t need to have one, if you don’t like cleaning the skirting, you can extend your lower cabinet doors all the way down. It’s likely that your home’s value will still go up, but not as much as if you were trying to cater to a buyer.
Know If You’re Renovating To Sell
If you are renovating your kitchen for a future sale, you should consider the renovation cost against the potential sale price. A well-designed kitchen can increase the value of your home from anywhere to 10-20%, so you can spend about 3-4% and still get a good return on your investment.
The next step is to not overcapitalize. For example, a marble countertop may be a dream for you, but your prospective buyer might not care for it. Or you could opt for a dish warming rack, but it’s a niche option for people who entertain, not the busy couple looking for a home. So make sure you make the space almost a neutral kitchen that is functional, and stylish but not too niche.
Try To Avoid The Pitfalls
One of the biggest mistakes people make is that they forget that a home is meant to be lived in. So your kitchen ideas may be super pretty with brass hardware and a hot water spout, but if nothing actually works, the kitchen won’t be functional and no one will want to use it.
In addition, don’t forget the little things. You’re going to need specific lighting in a kitchen, so it looks nice but is bright enough to not accidentally cut yourself making dinner. While you’re at it, consider what people love in a kitchen. They love storage space, useful extras, and things that make life easier without driving the cost up too high.
Don’t Bother Doing A DIY
Although you can easily DIY fix up your living room or bedroom, the bathroom, and kitchen aren’t popular for DIYs. This is because they take a lot of technical skill to put together. You’ve got to make sure the sink has good plumbing, the range hood is connected for good ventilation and that handles don’t just come off with one tug.
If you make mistakes, kitchens are also where the big damage happens. Fire, smoke damage, water damage, and electrical damage can occur if you mess up, so look to the experts.
If you want to do a kitchen renovation in Melbourne, just pick MW Homes, they’ll handle the renovations, and advise you on how to do it so your home’s value goes up, guaranteed.
