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A Minor Kitchen Remodel Can Yield Major Return On Investment
A small kitchen remodel project can be a great investment for your home. Resurfacing kitchen cabinets, changing their hardware and making other minor improvements can boost your homeâ€™s value enough that they come close to paying for themselves.
Small kitchen projects earn a return on investment of more than 83%, according to the latest Cost vs. Value report from Remodeling magazine. That means for every $100 spent on the upgrade, a homeâ€™s value increases by $83, on average. Thatâ€™s a much better return than many owners get from other home projects, including basement additions, bathroom upgrades and even replacing the roof.
You could also consider replacing one or two appliances with new ones that have high energy-efficiency ratings, updating your floor or countertops and applying a fresh coat of paint.
Such upgrades have many benefits. Youâ€™ll enjoy your kitchen more, bump up your homeâ€™s value and maybe even command a higher price when youâ€™re ready to sell your home. Overall, thereâ€™s a good chance that updating a kitchen will make you a happier homeowner.
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