Tips to increase your kitchen's value
Tips to increase your kitchen's value
by guest contributor and home remodelling experts Jon Labelle & Tatiana Paratchuk from Kitchenland
Year after year, kitchen renovation projects top the list for the best return on investment. Annual surveys of the Appraisal Institute of Canada back this claim with significant statistical data showing that 75 to 10 percent of expenditures in the kitchen are being recovered when homes are sold. Even if you're not planning a move anytime soon, following fashionable, current trends when you update your kitchen will yield big payoffs now and when you sell.
Many buyers over-estimate the cost to improve an outdated kitchen and will likely move onto the next property if yours needs too much work. Even some minor updates can change the entire look of the room and eliminate that concern. Spending approximately 25 percent of the home's value on a kitchen remodel will keep the home price in line and earn significant rewards.
Where to Start
Like most projects, determining how much you want to spend is the best place to start. Whether you just want a minor update or a complete overhaul, there are some awesome kitchen trends for 2015 that can be incorporated and give your kitchen a modern, attractive feel.
1. Cabinets and Hardware
In addition to being the focal point of the room, cabinetry provides storage, workspace and the foundation for the room's design. New cabinets can be pretty costly, so it's wise to consider all your options. A full tear-out with a high-end selection of solid oak or cherry cabinets can cost up to $50,000. Depending on the overall cost of the home, that investment may prove too steep. Alternative choices such as composite wood or mid-grade painted wood cabinets with newer features can still add great value without the hefty price tag.
If you're a little more budget-conscious and your cabinet boxes are in good condition, refacing or refinishing the cabinet doors and drawers will also work. Replacing the doors and drawers, and refacing the cabinet boxes with a matching veneer, or refinishing the existing surfaces will give you a like-new, attractive finish also. Adding some pewter or nickel-plated hardware will give your kitchen a modern feel without breaking the bank.
Natural stone and quartz countertops like Caesarstone continue to be highly sought-after investments, so it'll be a wise choice when remodeling your kitchen. If you're trying to decide between quartz vs. granite countertps, Caesarstone quartz surfaces are gaining popularity due to their non-porous composition as well as their scratch and stain resistance. In addition, they have four times the flexural strength and twice the impact resistance of granite while never requiring sealing. Not only will this selection add value to your kitchen, it will provide a beautiful, maintenance-free surface for you to enjoy for as long as you own your home.
If you're getting your home ready for sale, a fresh coat of paint will go a long way toward increasing its value. The kitchen, as the heart of the home, should be bright and inviting. Choose popular shades that are light and airy like white, ivory or gray. These colours will have a calming effect on this overactive space, and adding colour accents will create some interest without overpowering the room. Try to tone down some of your personal colour preferences. Although your favourite colour might be candy apple red, it might be a little too much for prospective buyers.
There are many popular flooring options that will provide a strong return on investment. While hardwood is definitely a head-turner, laminate flooring is undeniably a strong contender. These durable, floating floors come in a wide variety of styles, including wood and ceramic tile looks, and cost half the price of the real thing. The best part? Installation is literally a snap, thanks to snap-and-lock technology that requires no nailing.
If your budget allows, opting for exotic hardwood is an excellent selection. Wide plank, reclaimed hardwood and Brazilian cherry are among the most unique and stylish designs being chosen today. This luxurious look will add beauty and exceptional value to your kitchen workspace.
If you haven't shopped for lights in a while, you're going to be pleasantly surprised. From pendants to under-cabinet lighting to vintage, drum-style chandeliers, you'll find this small change will have a huge impact on your kitchen decor. Bright coloured glass shades and unique patterns are all the rage for hanging pendant lights over islands. They're reasonably priced and can be changed out easily for an updated look any time. Under-cabinet lighting is perfect for illuminating the work area and also adds ambiance to the room. There are many new retrofit kits available that mount into existing recessed or can fixtures, so installation won't necessarily require an expensive electrician.
Large or small, kitchen updates always equal added value. With so many amazing products on the market today, it's easy to get carried away. If you're getting ready to sell your home, make some simple changes first. Even these will add big value. If you're just ready for a change, always remember keep the overall cost within 25 percent of the home's value in order to receive the maximum return on investment.
Special thanks to home remodeling experts Jon Labelle and Tatiana Paratchuk from Kitchenland.