Improve your pricing: upgrade your kitchen
If you are planning upgrades to your home for 2016, you can't go wrong investing in your bathroom and kitchen. When talking kitchens, there are so many options that it can be hard to tell which ones will give you the best boost should you decide to sell your home in the future.
Six kitchen upgrades that may improve your price
If you have a moderate to generous budget for your kitchen upgrades, here are a few of the changes that will give you the best return on your remodeling investment.
- Open it up: Open floor plans are very attractive to buyers. If you have the budget and square footage to bring down a wall and increase flow from the kitchen to the rest of the home, it could be worth considering. The one downside to this option is if you will lose a significant amount of storage space or counter space, it may end up turning buyers off instead.
- Go to the island: If your kitchen doesn't already have an island, you may want to consider adding an island with storage options in the bottom. Adding an island with cabinets and storage not only increases useable counter space but also adds more storage space to your kitchen.
- Upgrade appliances: Upgraded appliances are a key element buyers look for when choosing a new home. While stainless steel finishes are the most popular for appliances these days, they show streaks and fingerprints easily. Stick with classic white or black for a sleek look that is timeless. If you can afford the more high-end brand appliances, you'd do well to consider Sub-Zero, Wolf, Thermador, and Miele brands.
- Give cabinets a facelift: If your cabinets are structurally good, you may want to consider having them professionally refaced instead of completely replacing them. Refacing cabinets is about 1/3 of the cost of replacement - allowing you to afford the more high-ticket items on your list while still refreshing the cabinetry.
- Update countertops to granite: If you don't already have granite countertops in your home, this is one upgrade you can't afford to leave off your list. And you don't have to break the bank on this upgrade alone. Granite is available in a variety of types and price points. To a buyer, granite is granite, whether you spent $2,000 on it or $10,000, they generally won't know unless you tell them.
- Add light: Updating lighting fixtures is a great upgrade and can be done at a variety of price points. However, adding more lighting will give your home value even more of a boost! Add lights underneath cabinets or in glass paneled cabinets to display special items or make counter space easier to see.
Common Sense Disclaimer
When considering any upgrades to your home, you want to keep the average home values in your area in mind. If the average home value is around $150,000 in your neighborhood, spending $50,000 or more to completely remodel just one of several rooms in your home could possibly price your home out of the local market when you have finished all of your desired remodeling projects throughout the house. Over-spending on upgrades can make it difficult to sell your home at a price point that recoups your investment. You'll want to keep your upgrade investments in line with what you can reasonably expect to get back with increased home value when you're ready to sell.
Knowing which kitchen upgrades give you the most bang for your buck can help you select options that you enjoy but also boost your list price whenever you decide to sell. You'll want to keep all of your selections classic, neutral and timeless in style so your kitchen remains fresh and modern for many years to come.