Ask the Expert
Q: If we sell our home in five years, will we get our money back that we spent remodeling our kitchen?
Kitchen remodeling continues to be one of the top areas of your home to spend money in order to see the most return on your investment.
According to HGTV, you can expect to recoup anywhere between 60 percent to 120 percent of your kitchen investment, depending on where you live in the country. Before you begin any remodeling projects, make sure your home is well maintained and in good shape relative to roofing, siding, windows, etc. No matter how nice your kitchen is, you won’t recoup any investment if there is water in your basement or your roof shingles are coming off.
Over the last few years, the importance of the kitchen has increased as many people are now saying that, “the kitchen is their new living room.” Kitchens are becoming more and more like gathering places for friends and family to meet and socialize. It’s important to note that a kitchen is an area in the home where you can tell if money has been spent or not. So given that people are spending lots of time in their kitchens, investing in this room is a very wise decision. Depending on your kitchen budget, considerations (in order of importance) should be given to first updating your appliances, then cabinets, flooring and lighting. A good kitchen designer can help you with whatever budget you have, to pull together a very nice remodeling project that will bring you many years of enjoyment as well as a good return on your investment, if you decide to sell.