Are you a homeowner looking to increase the value of your home, or wanting to sell your house quicker? Want to increase the value of your home before you attempt to refinance your mortgage? Want to know what type of remodel home buyers are looking for? Modern bathrooms and kitchens rank high on the want list for potential home buyers. However, which will add more value to your home? A bathroom or a kitchen remodel? Well, let’s begin by looking at both.
Why Remodel A Bathroom?
Bathrooms are all about luxury, style, and pampering. When it comes to home buyers, a master bathroom with basic amenities such as ample space, double sinks, and spacious showers, are what piques their interest. Extra amenities such as steam showers, heated floors, and whirlpool tubs, are sure to impress any potential buyer. Throw in lots of storage or ceramic tile floors and you’re sure to seal the deal. When it comes to updating half-baths, amenities such as low-flow toilets, skylights and neutral colored tile, are other items that will both increase the value and the attractiveness of your home. According to experts, a remodeled bathroom will net an average return of approximately 71% versus the cost of the remodel. That means that for every dollar spent, you will get at least 71 cents back when you sell.
The Importance Of A Modern Kitchen
Kitchens are the heart of the home. It’s where family and friends gather for meals and get-togethers. When remodeling your kitchen, keep in mind that the same thing that draws your family and guests to the kitchen, are most likely the same things that will attract the home buyer to it. When it comes to kitchen amenities, home buyers are partial to plenty of counter space, granite counter tops, and matching stainless steel appliances. Add an island counter top, and buyers are sure to be impressed. Add a prep sink and chef quality extra burner stove, and you have a chef’s dream! According to experts, the average net return on a kitchen remodel is 72 to 100% for a major kitchen remodel, and 78 to 100% for a minor kitchen remodel. Simply said, whatever money you soak into your kitchen will almost be fully returned to you upon the sale of your home. You are basically adding value and equity dollar for dollar on the upgrade costs.
Bathroom vs Kitchen Remodel
When it comes to a kitchen or a bath remodel debate, the kitchen seems to be the winner in most circles. With an average net return of 78-100% the kitchen seems to be what home buyers value most, with the bathroom coming in at a close second.
How To Remodel A Kitchen On A Limited Budget
Just because you have a limited budget does not mean that you have to give up on a kitchen remodel. Sometimes a simple face change is all that is needed in order to update the look of your kitchen. The kitchen is one of the two most trafficked areas of the home, so it is the logical choice to start remodeling. The following is a quick list of ideas that you might consider if you want to change the tone of your kitchen and home without spending a ton of cash.
To begin with, you might want to take a close look at your cabinets since they are the largest piece of furniture in the room. If you cabinets are getting old you might want to give them a fresh face by resurfacing them or coating them with a polyurethane finish. It is very expensive to completely replace cabinets in a home, but by refinishing them you will create a brand new look. You can take it one step further by choosing to add new cabinet handles and accents to the cabinets. It only takes a few dollars to replace each handle and this can easily help update the look of your kitchen.
After deciding what to do with the cabinets you might want to continue your face lift by choosing to repaint the walls. Paint is not an expensive purchase, and choosing a bright color to place against a dark accent color is a great way to bring your kitchen to life.
You also might want to take a look at the flooring that you have in your kitchen. Most people think that flooring is way outside of their budget, but if you do it yourself and have a smaller kitchen you might find that tiling is well within your budget. These days you can buy interlocking pieces of hardwood floors to make it simpler to complete the project on your own.
Things To Consider Before A Home Remodel
When you are considering a home remodel, there are several things to consider before you get started. Considering these things before you pick up your first tool, or purchase your first remodel piece, will save you a great deal of time, money, and grief in the long run. The first rule should always be to start with a plan. Determine which rooms you want to remodel, what fixtures or appliances you want to update, and what construction work (walls/ceiling/floors) will be required to complete the job.
After developing a solid idea of what you want to accomplish, your second step should be to get an estimate on the work you want done. Shop around and get a comprehensive idea of what it will cost to complete your remodel – and that includes considering every nail, piece of wood, fixture, paintbrush, roll of tape, and tool you’ll need to do the job. The reason for doing this is to make sure you have the money to complete the project. Many shocked and saddened homeowners find themselves with a partially completed remodel and no money to finish it. This happens because they did not have a clear picture of what the actual cost would be.
The third step, after deciding what you want to do and taking a look at the costs of doing it, is to make a decision. Is the remodel project within your budget? If it is, great, there’s no day like today to get started. If the project is not comfortably within your budget, you should wait until it is.
Once you know that remodeling your home is possible and practical, there are several things to consider as you get down to work:
- Take good measurements. Bad measurements will lead to a bad remodel.
- Take extra time to do prep work. A completed job is only as good as the initial preparation.
- Use the right tools. Incorrect tools will waste time, materials, and money.
- Pay attention to safety procedures. Putting an eye out or throwing out your back will severely impact your ability to complete your remodel.
- Get the right permits, lest you run afoul of the law and your insurance company.
- Build for the long run. Trendy remodels go out of style quickly, but moderation in your decor will really pay off when it comes time to sell your home.
Deciding whether to remodel your home in the first place, and then deciding which specific room to remodel can sometimes be a difficult task. When it comes to home remodeling, kitchens and baths are definitely the clear winners in increasing the home’s value. When all is said and done, and if you believe what the experts have to say, a kitchen remodel will certainly return much of the cost to you by increasing your home’s value.
Latest posts by Jason (see all)
- Scholarships For Women – Grants Specifically For Girls - June 24, 2016
- The Top 25 Millennial Personal Finance Bloggers You Should Be Following in 2017 - August 3, 2015
- Lifestyle Inflation Is A Beast You Must Tame - July 26, 2015