Home remodeling projects are tricky because there’s a fine line between investing in your home and throwing money down the drain. Some projects won’t add as much value to your home as you spend on them, whereas others can really pay off. You may embark on a project to add instant value before you sell, or do the work now with an eye toward enjoying the work while you live there and investing in your home’s long-term value. Either way, these ideas will help you avoid the pitfalls and add true monetary value.
1. Focus on the kitchen because it’s often at the top of buyers’ lists as they look for homes. An outdated kitchen can keep your home from selling, whereas a multi-functional one is a huge draw. At the same time, though, you want your kitchen to match your home’s overall value. Going overboard and installing a gourmet kitchen in a home in a low price bracket isn’t going to pay off, and conversely, a basic kitchen in a mansion isn’t going to cut it.
2. List the things you need, not just want, to bring your kitchen up to snuff. Browse photos of listings in your neighborhood to see what buyers are expecting these days. In addition, take note of the major issues in your kitchen now that are holding it back from being appealing. Perhaps there’s not enough counter space or the appliances are too old.
3. Repaint the kitchen in a bright, cheerful color that meshes with the rest of your home decor. This is the cheapest way to give a room a face-lift, as a $30 gallon of paint can totally change the look and turn a dingy space into a happy one. In some cases, especially if you’re looking to sell, this can be the best investment you can make in adding to your home’s value.
4. Assess the effectiveness of the kitchen work triangle, which is the shape created between the sink, fridge, and range. You want these to have effective workspaces in between them, while still being close to one another and not having other traffic passing through the triangle. Many people these days are installing ranges in islands to create a more effective work triangle.
5. Update your cabinets, either by replacing them or just reworking what you already have. Refinished or painted cabinet doors with new hardware can be just as good as new cabinets, especially if your existing ones aren’t very old and provide enough storage space for the kitchen.
6. Update your fixtures and appliances to bring these up to snuff with the neighborhood. Modern appliances will date more slowly, and matching sets look more appealing than mismatched ones. A new faucet can also make your kitchen look much more appealing.
These days, the kitchen is the heart of the home, where family members gather to spend time together. Remodeling your kitchen makes it a more appealing space to gather and cook, both as you live there and when buyers check it out. Choose the projects that will give you the most impact for your money to truly add value to your home.