Kitchen redos can be pricey. That means home owners on a budget must be choosy when trying to decide what kitchen projects to spend money on and what improvements can wait.
Realtor.com® recently launched a new series “Renovations That Really Pay Off,” and their first article focuses on kitchen projects that have the best return on investment and won’t be too much of a financial burden for your clients.
New appliances like a refrigerator, stainless-steel dishwasher, and stove can have a strong pull with home buyers, says real estate pro Al Cannistra. For example, Cannistra says he had a listing that lingered on the market with outdated appliances but as soon as the owners updated the appliances, the home received two offers in the first week and the home ended up selling above asking price. Just be sure to “keep the appliances and plumbing where they are because the rule of thumb is to add $5,000 each time you relocate either,” suggests Justin Riordan, founder of Spade and Archer Design Agency
Spruce up the cabinets
New cabinets can range from $3,900 and $12,000. That’s why home owners may be better off trying to give a face-lift to what they already have, such as replacing the cabinet hardware or painting the cabinets. “If you have existing wood cabinets that are still in decent shape, instead of completely refacing them, give them a fresh coat of paint,” says Tracy Kay Griffin, designer for HGTV’s “Get It Sold.” For example, Rust-Oleum offers a Cabinet Transformation kit.
Add a charging station
Everyone is looking for a plug to charge for their smartphones, tablets, and electronics. Nearly two-thirds of remodelers say they’ve added a charging station in the kitchen for the gadgets, according to the National Kitchen and Bath Association’s annual trend report. Cabinets and drawers can be modified to add hidden power strips, for example.
A new countertop can have a big impact on the look of the kitchen. And don’t assume granite. NKBA says quartz countertops are gaining popularity. A new countertop “provides an opportunity to install a new glass or subway backsplash for additional punch,” says designer Erin Davis, co-owner of Mosaik Design & Remodeling in Portland, Ore. “A budget-friendly option is to install a 4-inch-high splash out of the same countertop material.”
NKBA’s latest report shows that wood floors are the most popular kitchen flooring. Plus, averaging $9 to $12 a square foot, wood flooring tends to be cheaper than tile too.
Source: “6 Kitchen Renovations That Really Pay Off,” realtor.com® (March 2, 2016)