Cost-efffective Kitchen Renovation Ideas: How to Get Your Money Back Upon Resale.
A complete kitchen remodel can run from anywhere from expensive to exorbitant depending on the taste and budget of the homeowner. Remodeling Magazine's annual Cost vs. Value report says homeowners recoup only about 70 percent of kitchen renovation costs when selling their homes.
Nationally, homeowners who spent around $57,000 on a major kitchen renovation only recouped 72 percent of the investment, while homeowners who opted for the highest-quality materials and spent more than $111,000 recouped only 63 percent.
With this in mind, it is best to spend money wisely when planning a kitchen renovation.
Cost-Effective Kitchen Remodeling Projects
Four wallet-friendly kitchen renovation jobs:
- Cabinet Refacing
- Removing a wall
- Installing wood flooring
- Installing vinyl flooring
Brand-new cherry, oak, or maple cabinetry adds a "wow" factor to any kitchen, but even basic new custom cabinetry can cost $20,000 or more. Many kitchen contractors have carved a niche in the remodeling industry by refacing old cabinetry, which can be done for 30 to 50 percent less than the cost of new cabinets.
Removing a wall is one of the easiest ways to improve kitchen space. Newer floor plans often have kitchens that are open to living and dining rooms, while many older homes sequestered the kitchen space from the rest of the house. Knocking down half-walls or partitioning walls takes little skill and can be completed by most homeowners without the need to hire a local contractor. However, make sure you are removing a non-load-bearing wall--that is, a wall that doesn't support the weight of the roof. You may have to hire a drywall contractor for sheetrock patching and touch-up work.
Engineered wood flooring--Pergo is an extremely popular brand--not only looks sharp in the kitchen but it costs a lot less than real wood flooring and is installation-friendly. Many homeowners prefer to tackle this job themselves. On that note, new vinyl flooring with a complimentary pattern and color also dresses up a kitchen and costs a fraction of tile, granite, or hardwood flooring.
Other cost-effective kitchen remodeling ideas include replacing an outdated faucet in the kitchen sink versus replacing the entire sink, and installing new doorknobs and cabinet handles. Laminate counter tops provide an excellent upgrade for the cost, as do appliances purchased from a retail outlet. Outlets often sell new appliances such as dishwashers and stoves at savings of 40 to 60 percent.
By avoiding extravagant purchases, you can completely renovate a kitchen and still see solid returns upon resale.
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