A kitchen remodel can increase the value of your home significantly. Of any area in the home, kitchen remodels are the most popular in the United States. One of the biggest concerns when it comes to undergoing any remodeling project is saving money while doing it. The good news is that even a minor kitchen remodel can drastically change the look of your kitchen.
Why a Minor Kitchen Remodel Is a Great ROI
A minor kitchen remodel offers a great return on investment (ROI) because even with small improvements or changes, you can significantly increase the value of your kitchen. You should target a few areas to focus your remodel on. By targeting a few areas you can create the feel of a new kitchen without having to start from square one. A minor kitchen remodel is something that you should look at as an investment, you're spending less money than a major remodel, while significantly increasing the value of your home.
A minor kitchen remodel typically costs around $20,000, while a major kitchen remodel is significantly higher. By choosing to do a minor kitchen remodel you are more likely to see a return on that investment.
Areas to Focus On
One of the most popular areas in the kitchen to remodel is the kitchen cabinets. The Freedonia Group has projected that by 2023, the demand for kitchen cabinets will rise by 4.6%. This means that there will be around 101.8 million cabinets being purchased. Because the cabinets are somewhat of a focal point of your kitchen, replacing them can revamp the whole space.
Another major focal point that could benefit from a remodel in your kitchen is the countertops. Countertops are one of those pieces that can often be out of style. If your countertops are an older design, even if they aren't damaged, it makes the whole space feel outdated. Currently, 40% of homeowners that are thinking of or are currently undergoing a kitchen remodel are turning to quartz countertops. These countertops have the advantage of looking more expensive than they are and have a very modern look to them. If your goal is saving money, quartz is cheaper than most other countertop materials such as granite. You're saving money without sacrificing quality.
While flooring may seem like a major remodel, linoleum has increased in quality, while staying at a low price point. By installing linoleum flooring to something more current you change the whole feel of your kitchen. The great thing about linoleum flooring is that not only is it cost-efficient, but it is also easy to install on your own.
Simple Aesthetic Renovations
Not all of your renovations need to involve replacing areas in your kitchen. You can do simple projects to breathe new life into your outdated kitchen. Painting is a cheap way to change the feel of your kitchen. Even something as simple as adding a bright and bold color for an accent wall can make a world of difference. If you decide not to replace your cabinets you can simply give them a facelift by painting the doors.
Another easy and inexpensive project to do is to replace your trim. Overtime trim starts to show signs of wear and tear. Replacing your trim may not seem like it would make a big difference, but it adds to that feeling that you've just remodeled your whole kitchen.
You should look at your home for what it is, an investment. Whether you are remodeling your own home or remodeling a home to flip, you can make minor renovations to areas such as the kitchen and significantly increase the value of your home. A minor kitchen renovation is a great way to save money while creating a feeling that you have a brand new kitchen.