Most prospective buyers are very keen and precise about the kitchen when it comes to buying a home. Major kitchen renovations will result in good returns on investment depending on the real estate market you are targeting.
When doing a kitchen remodel for a house, you want to rent or sell out the estate. It is recommended to hire a kitchen renovations expert to do the job. This is because contractors are experienced in handling various home improvement projects. These services will save you time. Besides, but the effort to do it yourself, particularly if you have no experience in kitchen renovations, may be disastrous.
Once you find a reliable contractor, try and describe what you want the kitchen design to look like and the amount of financial resources you intend to dedicate to the project. By doing this, the contractor will help you calculate the average cost of the project and how long it will take to complete it. To get a good return on your kitchen renovations, it is crucial to budget for every renovation cost that the house may need besides the kitchen. The bathrooms, bedrooms, and sitting areas may require remodeling. So, take all these factors into consideration.
Tips to budget for your kitchen renovations
Here are important tips to implement to ensure your kitchen renovations boost the overall value of your property.
- Set aside approximately 15% on unexpected costs. A fixed budget may hurt you in the long term as most renovations never cost the same as you would picture
- Know how much you are willing to spend. These will help when it comes to renovation allocation if the kitchen is not only the room that may require renovation. Get a loan only if you are sure that the home selling price will appreciate.
- Your neighborhood is also a factor considered during the budget. Is it upscale or modest? You might end up over-improving a kitchen space that does not fit the neighborhood class of living. These will result in losses as a result of low house pricing.
- Break down the total project cost. Know what percentage will finance labor, appliances, windows, fittings, and other fixtures. By having a breakdown of the, you will have an easier time and stick to your budget.
- Make a list of priority areas you need to remodel first. By knowing the most important areas to start renovating, you may start with the little you have and continue on other areas as time goes by.
- Shop using the advice given to you by the contractor. This is because they are experienced and know what materials are authentic and affordable as well. Most contractors will even tell you the best suppliers to rely on when buying some of this material. You may not be skilled in the renovation sector, and having a contractor’s advice will save you a lot and help you avoid making mistakes when buying different products in the market.
- When going shopping, make sure you stick to your plan. Most people go over budget because of not sticking to their original plan. They end up buying other products which may look better or cheaper than you initially wanted. Changing the budget in the middle of the project may cause the total renovation cost to increase exponentially.
- One way to cut costs on your budget is by doing some of the work yourself. Not everything in kitchen renovation requires experience; a few minutes of research, and you are good to go. Renovation processes like flooring, changing the cabinet, and wall painting are easy to handle by anyone.
Have a detailed plan of how you are going to pay for the kitchen renovations. The most popular method is home equity loans because of how tax-deductible they are. Other payment options may include taking a personal loan, savings, and seeking investments from investors. If you are taking a personal loan, be mindful of the interest rates and other fees that may come with it.
The contractor will also advise you on what other tools and appliances you may need when the renovation ends. Follow the advice they give closely to avoid any mistakes that may cause losses at your cost. Depending on your design preference, the contractor may start working on your kitchen and turn it into a dream space.
Kitchen renovations that could boost your home’s value
Here are some of the top kitchen renovations that could boost the value of your property.
Cabinet repainting
Kitchen cabinets are expensive during renovation but have no costly charges on installation. With a budget, you can get up-to-date kitchen cabinets that bring a new vibe to the room.
New kitchen countertops
Countertops are the focal point in the kitchen space and need to stand out from the rest of the room. It is why it is crucial to budget for good countertops. Formica and granite are some of the materials that are less costly but provide a modern look to the kitchen. Thanks to modern manufacturing technology, materials like these feel more expensive and make them perfect for sparking a dated kitchen. Other countertops include laminate countertops, quartz countertops, and stone countertops.
Kitchen appliances replacement
With the help of your contractor, get energy-saving model appliances for your kitchen. These will save you a lot when it comes to utility bills and energy costs. Some appliances that you need to check out include a fridge, oven, microwave, and cooker. The best part about them is that they are readily available in the market and go o sale for great offers and discounts. Energy-efficient appliances will also serve longer than other appliances.
New kitchen sinks
If you want more bang for your buck, new sink installations are a feature most potential buyers are keen on. Do not let it lack style with a modern look as well.
Ensuring light fixtures are functional
A lighting system will set a tone for the room, and hiring an electrician for this may be the best idea. They will help you with the rewiring to add new features and designs. Some examples of lights you can try include task light, pendant light, and under-cabinet lights. They have different functions and features to suit your needs and bring lighting all around the kitchen space.
Replacing old kitchen floor
Depending on the design you want the kitchen to look like, there are many flooring options to choose from. These include hardwood floors, stone floors, wooden floors, and tiles floors. The floor will be important when selecting what theme you want the kitchen model to go with if you will also update the décor.
Windows
Depending on the design you have, renovate the windows as perfectly as you can. Ensure there is enough natural light in the house to attract potential homebuyers who may love natural lighting. Get efficient windows for any window replacements needed and leave them as clean as possible.
Painting the walls
Walls are essential during renovation and may require complete wall makeover if they are faulty or maintenance if discolored. Ensure you choose a color that will set a tone and make it a stylish accent wall. Use authentic paint wall for the entire wall and be creative with the design.
Improve your property’s value
All these factors will count when determining the selling price of the house. Try also estimating the price range you are targeting to sell your home. It is important to have an average price you are targeting in the market.
With a good kitchen renovations contractor, you can be assured of a better selling price for your property as a result of the quality work done on the kitchen remodel. Though other factors might come to play when selling your house, having a modern kitchen will be an added advantage when the time for selling the estate comes.
