Consider a minor kitchen remodel for return
Posted on Friday, December 30, 2011 at 10:59:30 PM
If a homeowner is looking for a high return investment, they may wish to consider a minor kitchen remodel. Home improvement loans are available for homeowners looking to invest in their property.
Minor kitchen remodels cost $14,773 on average, according to This Old House magazine. On average, the resale value of that kitchen remodel will be $13,039. That is an 87 percent return rate! Sometimes, smaller more pointed renovation, such as this, will lead to a higher return rate in the housing market.
Projects that may be included in this remodel include, back splashes, counters, cabinets or flooring. A complete kitchen remodel will typically run $38,769 and have an 80 percent return rate, reported the source. Simple math says the small project may be a better option for homeowners looking a great bang for their buck and are considering selling their home within five to eight years.
These returns can vary between markets, materials, taste and regional specific factors. However, national averages are favorable for homeowners considering a small specific kitchen revamp.