Debating whether a kitchen makeover is worth the financial effort right now? Will it boost your home value? The answers are not always clear cut, but here’s how to make the right decision for you.
While major kitchen remodeling projects take longer to provide a payback, quick kitchen design projects can provide a quicker route to boost home value. Here are some examples:
New countertops. A $1,000 to $3,000 expense, depending on the size of your kitchen and whether you go with laminate, on the low end, or granite, on the high end. Cabinet refacing. Costs $3,000 to $7,000, based on the number of cabinets and the level of finish. Cabinet refacing also takes less time–often less than a week. For a less expensive option, try painting your kitchen cabinets. You might spend $100 in supplies or hire a painter for $400 to $700 for labor and supplies.New flooring. Can add lots of pizzazz for $1,000 to $5,000.Kitchen Remodeling: Where’s the Resale?
The good news is that kitchen remodeling remains an important focus for resale purposes, says CBS Moneywatch. Just be careful to keep it simple and inexpensive. Think about:
What level of finish fits your neighborhood? If it’s all top of the line, then you can splurge a little, but don’t go overboard. How long do you plan to live in the house? You won’t get big remodeling dollars back quickly these days, but if you are cautious about spending and plan to stay for 5 to 7 years, you should be OK with kitchen remodeling. (Besides, you can also enjoy the space during that time, so there’s value in that!)
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