The design elements you choose in a home remodeling project can really make a difference in your return on investment on your home’s resale.
But it also goes deeper than just that when planning your next home upgrade. You have to also consider how much is reasonable to spend on a home upgrade in your specific neighborhood.
Letโs say you live in Chicago where the median sales price in 2016 is $240,000. Experts suggest spending between 5 and 10 percent of the assessed home value for an improvement. So, if your home will potentially sell for $240,000 than you would spend between $12,000 and $24,000 on a home remodeling project.
But what area of the home should I remodel in to get the best ROI?
The short answer is the kitchen. Certainly there are many factors that determine an ROI: the state of the market, the time of year, the age of the house, etc. But letโs focus on the parts you can control – how you design your kitchen to attract to more buyers.
There are four design components that nearly every kitchen has:
- appliances,
- wall color,
- counters, and
- cabinets.
1. Kitchen Appliances
Appliances are all about function, so long as they are wrapped in stainless steel. If youโre dishwasher is leaving crud on your plates and glasses, or your microwave is older, youโll obviously want to replace these with better, stainless steel options.
People prefer stainless steel almost purely on its aesthetic value. It looks cleaner, sharper, and more modern than the many variations of white that have dominated 90โs and 2000โs-era appliances. Speaking of white, would you be surprised to learn itโs a very popular choice for wall color.
2. Wall Color
White, ivory, yellow, and gray are in vogue in 2016 as wall and accent colors. Notice a theme in these four? They are all lighter colors, and they help reflect natural light while making your room look bigger. You can combine several shades of these colors to create interest and contrast in the space.
White makes a superb backdrop for highlighting your art or wall pieces. White goes with anything. The same canโt be said of dark or โstrongโ colors like burgundy, brown, deep blue, or green. Dark colors are not bad, per say, but should be used sparingly because they generally make the generally convey a specific mood.
They also take numerous coats of paint to cover. Overall you want to play it safe with colors when considering resale. Keep a light pallet in mind if and when you decide to paint your walls or give a facelift to your cabinets.
3. Counters
Whether you call it a facelift, a resurfacing, or a refacing, it means the same thing: replacing the doors, drawers, and wood running vertically on the sides of the doors (see KitchenRemodelingChicago.com/ย for more information about kitchen renos).
These are the parts that โfaceโ you. Many people ignore their cabinets because they think updating them means gutting and replacing everything. This couldnโt be farther from the truth. In actuality, a resurface replaces about 75 percent of what people see while keeping the frame or โcarcassโ in place.
Think of it like changing your clothes. You are the same person, but your outfit is newโand cheaper. Installing new door and drawer fronts, new veneers, and new hardware will cost half of what a full gutting will run.
4. Cabinets
When thinking of the aesthetics of your cabinets, try doors and drawers that have a flat panel design. These are sleek, modern, and will pair nicely with the light, simple colors in the space. You may also try glass doors to add depth to the room and highlight what you are storing. These do come with a bigger price tag than the flat panels, but can add much needed sophistication to your space. Looking for a cheaper alternative to resurfacing? Changing the hardware or โcabinet jewelryโ might be all you need.
Looking for a cheaper option than replacing your doors? Try some cabinet jewelry; this is the elegant hardware such as knobs and handles that are affixed to your doors and drawers. Just like with appliances, stainless steel is popular. You canโt go wrong with pewter either. Both options should only run you $100 to $200 to update the whole space.
Feeling confident about the look of your walls and cabinets? Letโs examine those countertops. Solid surfaces and pseudo stone counters like Venetian gold or Baltic went out of style in the โ90s.
Granite is popular now and seems here to stay. Chicago loves granite just as much as any other major market, and itโs easy to see why. Itโs the perfect combination of durability and beauty. You can cut food directly on it, rest pots off the stove, and even beat it with a knife, if you feel like it. Whatโs more, Granite comes in a variety of colors, which makes it ideal for the focal point of your kitchen.
Keep in mind, whatever changes you make to your spaceโbig or smallโwill affect your ROI. Weโve identified tried and true techniques to consider or use as guidance, but the decision is ultimately yours. While most listings will stay on the market for 3 to 4 months, you can certainly shorten this time, if not increase your ROI, with a few choice upgrades your kitchen!
About the Author: Steve Constable works in the home remodeling industry and graduated in 1999 from Indiana University Bloomington where he studied Fine Arts and English. He enjoys the art and science of home remodeling. In his spare time he also likes to play guitar music and is a fan of the blues. To learn more about Steve’s company on the web visit: https://kitchenremodelingchicago.com/
Here’s a sample of Steve’s work (for a celebrity):
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