How Does Customizing My Kitchen Add Property Value To My House?

January 11, 2017 Uncategorized

Remodeling the kitchen is an excellent way for homeowners to increase functionality and aesthetic appeal for a property. By choosing the right company that specializes in custom kitchen cabinetry in Newmarket to enhance your kitchen space, you can pass the significant amount of expenses to the future owners in form of increased property value. So how does customizing your kitchen add property value to your house?

Think before remodeling

kitchen cabinetry

Basically, when you choose to customize your kitchen there is a greater return on investment than when a remodeling project is designed to fix flaws and structural issues. If your main aim is cost recovery, then you need to remodel your kitchen in a way that will accommodate the future owner’ tastes. If you are an investor seeking to enhance your property for rental purposes, you can get a return on your investment through increased rental rates which are controlled by updated residences.

Consider your location

How is the location of your house relevant to customizing your kitchen? The geographical location of your house greatly influences your kitchen custom designs to a great extent. For example, if you live in an area with very high humidity, you need to consider the type of materials to use on your kitchen cabinets and counter tops. Using materials that cannot handle high humidity means that they will not last long and therefore you end up losing on your investment.

Always consult your designer on the best materials to use on your kitchen remodeling depending on your location. Using some materials will mean higher maintenance cost for new owners and this may be a turn off to most buyers. Check around your area to find out the common materials used to build custom kitchens and their maintenance cost.

The cost of remodeling

You need to work out the total cost of remodeling your kitchen. If you are planning to take a loan for the project, calculate how much interest you will have to pay and how long the loan will take to repay. This is particularly important because this will help you to know whether the investment will be profitable or not in the long run.

If you end up paying too much interest on the loan than the return on investment then you have to rethink your remodeling designs. If you are working on a minimum budget, don’t shy away from discussing this with your kitchen designer to see how you can work within your budget. If taking a loan will pay off in the long run, then you can go ahead and invest in your kitchen remodeling plans.

Cost vs. value

Remodeling your home’s kitchen not only adds value to your property, but you also get to enjoy living in an updated home. This means that even if your initial intention for remodeling your kitchen is to increase your property value, you still get to enjoy the advantages that come with having a customized kitchen. You enjoy knowing that these expenses will be passed down to the future owners and therefore it is a win-win situation. Statistics show that a major kitchen remodel has an average recovery percentage of 70-78%. This shows that remodeling your kitchen has a greater probability of returns on cost at sale.

Don’t go overboard

Most people after hearing about kitchen remodeling automatically think of huge expenses. This is not always the case. You can choose to do a mini remodel which also helps to increase your property value. For example, you can simply install custom kitchen cabinets to increase efficiency and storage space. Add some color by repainting your kitchen walls to match the new cabinets.

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