In addition of being one of the most popular renovations homeowners complete, the kitchen often nets the highest return on your investment (ROI) relative to other areas in your home. While many homeowners give the kitchen a minor update to keep it modern, others choose a full remodel to improve the style and function of the space, enjoy it more and make it more attractive to potential buyers.
Here are 5 popular kitchen trends with great returns:
– Smart technology: some of the latest kitchen appliances feature technology that allows you to control the appliance form your smartphone, save energy and work more efficiently in the kitchen. Imagine a refrigerator that tells you when you are running low on milk, an oven that preheats on your commute home and a dishwasher that alerts you when there’s a leak. It’s all within reach and can save you time.
– Open-space concept: consider removing some or all of the upper cabinets and store dishes, food and other items at eye-level. Utilize more efficient storage solutions in the base cabinets and outfit tall wall cabinets with pullout storage so you can easily view and access the items yo need.
– Touch technology: activate your faucet with your elbow or the back of your hand when your hands are full or dirty. Touch technology streamlines meal preparation, makes it easier to keep your sink and faucet clean and helps ensure safer food preparation.
– Comfortable gathering space: creating a comfortable seating area encourages family thong out together while dinner is cooking. Kids can do homework and your friends can socialize during parties.
– Purposeful lighting: take your lighting to the next level by illuminating the interiors or undersides of your cabinets. It combines function and style to add an element of sophistication to your remodeled kitchen.
Things to consider before you start:
– Why are you remodeling? Are you planning to sell soon, or simply want to improve the style and function of your kitchen? The answer to this question will help you decide the scope of your project and overall budget.
– How long do you plan to live in the home? If you plan to move within five years, consider a renovation that will give you the highest return on investment. If you plan to stay in the home for a decade or longer, consider making long-term functional improvements that fit your style and budget.
– Do you have or plan to have children? Choose durable, easy to clean materials for your renovation.
– Are you planning to leave in the house during the project? If you’re planning a major renovation, consider arranging accommodation off-site so you won’t be inconvenienced.
What are the costs and returns you can expect?
– The major kitchen overhaul: ROI 61.9%. Costs in average of $122,991. An upscale major renovation includes 30 linear feet of custom cabinets with built-in sliding shelves, stone countertops, ceramic or glass-tiled backsplash, designer sink and fixtures, built-in refrigerator, wall oven and microwave, commercial-grade cooktop and vent hood, under cabinet lightings and tile or wood flooring.
– The midrange kitchen overhaul: ROI 65.3%. Costs in average $62,158. A midrange renovation includes 30 linear feet of semi-custom wood cabinets, laminate countertops, standard stainless-steel sink, energy efficient appliances, built-in microwave, new flooring, paint and the installation of a 3-by-5-foot island.
– The minor kitchen update: ROI 80.2%. Costs in average $20,830. A minor update of a 200 square-foot kitchen includes replacing 30 linear feet of laminate countertops, replacing fronts of cabinets and replacing appliances with energy-efficient models. It also often includes painting and removing/replacing flooring.
Make your small kitchen appear more spacious:
– Choose light colors.
– Install open shelving.
– Incorporate patterns.
– Diversify your lighting.
– Create a mobil island.
Source: Buffini & Company 2018. https://www.buffiniandcompany.com