As they spend money on these things, they end up ignoring or delaying the bathroom and kitchen renovation; only to when it becomes absolutely necessary due to a serious problem, such as pipe leakage and drainage problems.
This blog is specifically directed towards the audience that follows this path and sometimes, even raises the question, “Is renovating/remodeling the kitchen and bathroom worth the investment?”
Let us tell you that YES, it is.
Contractors and real estate agents say that bathroom and kitchen remodels/renovations continue to be the best investments that one can make in ones own home. These 2 areas are said to bring the most significant payoff, particularly when if you decide to sell your house.
Even minor remodeling of your kitchen will add about 80% of the money spent to the current value of your house. The director of the remodeling futures program at the Joint Center for Housing Studies at Harvard University, Kermit Baker, is of the view that bathrooms and kitchens are the areas buyers should tend to first. This is why experts suggest investing in remodeling and/or renovating kitchens and bathrooms despite knowing that these areas are also the most expensive ones to revamp.
Kitchen Renovation/ Remodel
According to reports, a $19,000 investment in kitchen renovation/ remodeling will add around $15,000 to the overall home value. Not a bad deal, is it?
When we talk about kitchen remodeling/renovation, stainless steel appliances and granite countertops are always a huge hit. A fresh coat of paint and new cabinets are some other things that will add value to your house.
Bathroom Renovation/ Remodel
The bathrooms comes second to a kitchen when it comes to deciding the value of a house. Since bathrooms are more prone to wear and tear from everyday use as compared to other areas of our houses, they need to undergo a renovation/remodel much more quickly. A $16,000 investment in bathroom renovation/remodel increases your home’s value by about $10,000, which is a 65% return. Marble or granite countertops, proper lighting, under mount sinks, and new fixtures are what buyers mostly look for in bathrooms.
While kitchen and bathroom renovations and remodeling are definitely an investment worth making, make sure you do it keeping in mind the neighborhood you live in. Decide on the amount of this investment according to the area and other houses around. If you overspend on your remodel or renovation, you may not see that return on investment only due to the location of your home.
But, how do you know what’s the right amount to spend on a renovation/remodel?
Ask the professionals at Aspire Renovations! They not only have great ideas, the right equipment and extensive knowledge in this industry, they also know the limits. An experienced contractor can easily tell how much should be spent on a particular area keeping in mind the value of the area, neighboring houses, and other factors that contribute towards deciding the value of a house.