The Best Kitchen Renovations for ROI
Posted by Justin Havre on Sunday, October 31st, 2021 at 7:16am.
Before Riversong homeowners start picking out the latest smart refrigerator, it can help to consider the average ROI of each change they make for one of the most important rooms in the home. Along with the bathroom, the kitchen is a way to show off the hardware and gadgets that will ultimately leave the most lasting impressions on future homebuyers. Learn more about what those buyers are looking for before prioritizing any remodeling plans.
Minor remodeling jobs tend to have a bigger ROI than larger remodeling jobs. No matter what the market value is of a home, it's somewhat constricted by the surrounding property. In other words, there is a certain amount of leeway when it comes to price range, but that leeway would be difficult to justify an expensive renovation.
The one possible exception to this rule is if a homeowner is located in an area that has recently become wildly popular. If practically everyone on the block is investing in remodeling, it may prove profitable to keep up if the interest is not slowing down. In general though, Canadian buyers want attractive, functional, and durable kitchens where they don't have to worry about the sink leaking or the oven springing a gas leak.
Start with the Gadgets
The appliances of a kitchen have a lot to do with the homeowner's utility bills. Old appliances are inefficient, and they tend to date the kitchen pretty quickly. Buyers may not need their fridge to remind them every time they run out of butter, but it's handy to have smart home technology or a stainless steel appliance that will dispense water and ice at the touch of a button. Buyers may also want to spring for an oven that cleans itself or a microwave that can expertly defrost even the most petrified of foods.
Check the Surfaces
There are a few major turnoffs for buyers when it comes to the surfaces of a kitchen:
- Old cabinets
- Stained countertops
- Awkward spaces
- Chipped floors
Updating the kitchen can be as simple as changing out the fixtures to make the experience of opening and closing drawers and cabinets more enjoyable. Homeowners can also consider staining the cabinets, changing the doors, or sealing off cabinets to protect the home from pests and water damage.
For those who want to do something about the floors or walls, they may want to consider tile first. This versatile material offers a number of benefits to the average home buyer. For example, a honeycomb pattern is a neutral design that doesn't hide the quality of the tile.
Paint the Kitchen
Those who are watching their pennies should consider what paint can do for the kitchen. From the walls to the cabinet to the floor, a fresh coat of paint can do wonders for the look and feel of the room. Fill in the chips of the floors with inexpensive grout and then paint the whole thing with black and white square. Or opt for a neutral yellow or gray for the walls to highlight the coziness and utility of the room. Homeowners want home buyers to imagine fixing dinner, enjoying coffee, and relaxing at night with a cup of tea. The right colors can make it easier for homebuyers to make the connections that inspire better offers on the home.
Redoing a kitchen can be a smart way to increase the beauty of a home, but homeowners need to be careful of how they approach their improvements. Spending a lot on the latest trend may be satisfying in the moment, but it may not yield the return that homeowners are ultimately looking for. Scaling back (at least at first) can be a good way to reveal which parts of the kitchen require the most attention.