Thinking about finding a new project to spruce up your home? There are many different things you can do around the home. Some will give you a decent return on your investment and other will do almost nothing for you.
When you are planning to upgrade your home, it is important to know the ones that have the worst return on the money you put in. This will help you to find the one that will increase the value of your home the most.
14. Major Kitchen Remodel
Overhauling the kitchen may seem like a good idea because the kitchen is the selling point for many homeowners. However doing a major renovation in this room could be a major downfall when it comes time to sell the home and can be a lot of work. Major kitchen remodels are not only costly but will not go as far as you think to improving the resale value of your home.
According to Nu Look Home Designs the return on investment with a kitchen remodel is about the same as window replacement, coming in at about 74%. While this may make it seem like it is a good option, the truth is that you will lose more money on this than replacing the windows on your home because it costs significantly more to do a complete kitchen remodel.
If you want to get the most bang for your buck in the kitchen, go for small upgrades. Changing out old appliances for the new ones and making sure they match is a nice way to give a new look. Granite countertops are always nice and make a great selling point in a home.
Even something as simple as changing out the knobs and handles of the cabinets in your kitchen can make the room look fresh and new if you have a small budget to work with.
By choosing smaller upgrades in the kitchen you can still make the home more appealing without turning it into a money pit. The thing to keep in mind with this is that you do not want the style and cost of the kitchen to overshadow the rest of the home.
If your home is only worth a couple hundred thousand dollars you do not want to put a state of the art kitchen in as you will not get this back.