As a homeowner, you may be wondering if you should complete a kitchen remodeling project before you list your home. You may also be wondering how much of the cost of a remodeling project would be recouped when you sell the property. Remodeling a kitchen can help you to make your property more attractive to a potential buyer and this may help you to sell your property faster and for a greater profit. However, you may want to think about a few points before you decide to move forward with this type of project.
The Style and Features
In many cases, homeowners who complete a remodeling project may be able to recoup most or all of the cost of a remodel. However, there are some variation to this and this will largely be based on the style and features you choose for your remodeling project. In order to generate the best results when selling your home, you should choose a style for your kitchen remodeling project that has universal appeal. Of course, it can be challenging to find a style and color scheme that appeals to everyone but you may enjoy better results sticking to a traditional yet upgraded kitchen with neutral hues rather than a modern kitchen with bold colors. Consider features that buyers may love, such as a lazy susan inside the cabinets, soft-close drawers or a bar-style eating area. Think about features that you will benefit from but also choose features that you think most people will be thrilled to have in their kitchen.
Your Neighborhood or Market
You also should consider the kitchens in other homes in your market. If you live in an older neighborhood, some of the kitchens in other homes may not yet be updated. However, you can browse through the photos of listings to view what others have done when remodeling their kitchens. You can spend $10,000 remodeling your kitchen or you can spend ten times this amount. If your goal is to recoup the full amount, you want to consider the value of homes in the area. It is not realistic to install a gourmet, luxury kitchen worth tens of thousands of dollars in a neighborhood that has starter homes in it.
Kitchen remodeling may make your home more appealing to a buyer; however, whether you plan to sell your home in the next six months or within the next few years, you should keep these points in mind. With each design decision you make about your property, these tips will help you to maximize your return on investment.