Kitchen renovations are the most popular renovation for homeowners. Having a beautiful and functional kitchen will increase your family’s personal enjoyment of the space and boost your home’s resale value.
1. Improve your Home’s Resale Value
Kitchen renovations have one of the highest ROIs (Return On Investment) compared to other home improvements. According to Remodeling Magazine’s Cost vs. Value Report for 2018, even a minor kitchen renovation can have an 81% return. That means if you spend $21,200 on a kitchen renovation you can expect to increase your home’s resale value over $17,200 – think of this as having someone else paying for your reno! The kitchen is also one of the first things home buyers look at when inspecting a potential home to purchase. If the housing market is slow, a new kitchen may be the difference between sitting on the market for 1 month vs. 10 months.
2. Improve Function of Your Kitchen
A well-planned kitchen renovation is also one of the highest-appreciated improvements for families. For example, adding more cabinets or extending cabinets to the ceiling will give you more storage space. You can open up your home by knocking out the wall between your kitchen and living room to make room for a large island (and hosting a few more guests). Use this island as an additional space for cooking, storage and dining. You can even add things like built-in wine racks, speakers, charging stations, pull out recycling bins and other unique features that will improve the function of your kitchen.
3. Increase Energy Efficiency
A kitchen renovation is a great opportunity to replace your older kitchen appliances with new, energy-efficient models. Look for kitchen appliances that have the ENERGY STAR label. This label ensures that they meet or exceed strict energy efficiency standards. An eco-friendly kitchen that saves energy means you will spend less on your monthly utility bills while decreasing your impact on the planet. It’s win-win!
4. Pure Happiness
Tired of looking at your old kitchen? Are your circa 1980 kitchen cabinets looking pretty shabby? Imagine that every time you step into your kitchen your day gets just a little bit better. Image the sigh of relief every time you see your new countertop, backsplash, wall colour, flooring as well as the little details that make your space unique. You’re going to love your new kitchen!
5. Increased Comfort and Safety
When you renovate your kitchen, you can add things like better ventilation to reduce odors and heat while cooking. You can change the design of your kitchen entirely to create a more functional flow for cooking, entertaining and spending time as a family.
You can also improve safety in the kitchen by replacing older, malfunctioning appliances or creating a design that is more adaptable for where you’ll be in 5 years. Some renovations uncover wiring and safety concerns you didn’t even know existed. This is common in kitchens over 20 years old. You might also take this opportunity to upgrade the lighting in your kitchen with pot lights and under-cabinet lighting.