What Are The Best Kitchen Renovations For High ROI?

Renovating your kitchen is a great way to increase the value of your home. Homeowners are often delighted to know that a refurbished kitchen generally yields a 70 to 100 percent return on investment. But what are the best kitchen renovations? The answer depends on your lifestyle and needs. When it comes to the kitchen, some home improvement projects require contractors, while others are DIY-friendly.  Even though trends change, explore some kitchen renovations project offering homeowners a high ROI upon resale.

Give the Buyers What They Want

Keeping up with kitchen design trends will help you meet buyers' expectations when it's time to sell your home. Depending on the time that elapses, the updates may seem far less attractive to potential buyers. Homeowners should be considering kitchen renovations that have widespread appeal. Hot home improvement trends in the past have included a kitchen island, hardwood floor in the kitchen and built-in kitchen appliances. Kitchens with a contemporary look are often the most appealing to buyers.

Any home improvement should be in keeping with the style of the rest of the home. A completely renovated kitchen will feel out of step if the rest of the house looks tired and outdated. 

Kitchen renovations should not make the house feel that different from similar comps. A kitchen renovation in a home with a higher market value than the average in the neighbourhood will see less of a return. Keep in mind the home's value when estimating the potential return on a kitchen upgrade or any home renovation project.

Prioritize Energy Efficiency

Not every kitchen update will offer a significant return, but those that can save money or make for a more functional space often hold their value. Individuals living in older homes with drafts may want to consider replacing kitchen windows or upgrading home insulation. This type of upgrade has been known to yield a return of approximately 75 percent.

Energy-efficient upgrades are a great way to help sell your house faster. The environmental benefits they offer, and the potential cost savings on energy bills, can be attractive prospects for potential buyers. In addition, more efficient appliances often offer better performance and convenience than their older counterparts, making them an even more desirable feature in a home. With modern kitchens being a hot commodity in the market today, investing in energy-efficient kitchen appliances can make all the difference in helping your house stand out from the competition.

Keep It Simple: Low-Cost Projects Yield Big Returns

If you're looking to give your kitchen a facelift without breaking the bank, there are several inexpensive renovation projects you can do. Consider painting an accent wall in an eye-catching colour or installing peel-and-stick wallpaper for a quick transformation. You may also want to refurbish your cabinets by swapping out existing cabinet doors, handles, and drawer pulls for more modern variations. New countertop materials such as quartz composites are available with minimal installation cost, and they may add a touch of sophistication to your kitchen. Brightening up the space with LED lighting fixtures is another low-cost way to enhance the ambiance of a kitchen.

Capping off the smaller projects with some new appliances will make a big impact on potential buyers down the line. Saving money on kitchen projects without sacrificing quality is one way to increase the potential return. 

Choose the Best Renovations For Your Kitchen

A kitchen renovation is a great way to improve your home’s resale value while also making your life easier. While there are many things you can do to upgrade your kitchen, these three tips will give you the biggest return on your investment. Focus on energy efficiency by upgrading appliances and insulation. Remember to keep it simple with low-cost projects that have a big impact, like painting or new hardware. Finally, give buyers what they want by incorporating popular home improvements. By following these tips, you can renovate your kitchen on a budget and make it more appealing to potential buyers down the road.