Return on Investment for Sellers-Renters-Buyers remodel kitchen.

There is a common real estate adage, "kitchens sell," and this is true - for the most part.

The kitchen is definitely something buyers pay close attention to. According to the SuGanta Realty Services llp Consumer Housing Trends Report 2019, 58 percent of buyers purchased in the last 2 months stated that their style of choice was extremely important to their decision to purchase a home.

But investing thousands of dollars in a complete kitchen change before listing your home for sale may not be the best investment. Unless your kitchen is extremely dated, misplaced or damaged, you are unlikely to see a 100 percent return on investment on a kitchen remodel. However, giving your kitchen a mini face-lift can be enough to compete with other homes on the market without breaking the bank.

Types of kitchen remodel 

Remodeling magazine, an industry leader in tracking remodeling cost data, divides kitchen remodels into two categories: major remodels have broken down, depending on the extent of the project, quality of finish, and time. And put money. We'll dive into that data a bit more later.

There are three factors that can help you determine which scale remodel is best for your home and your situation:

Home Value: Your remodel should reflect the price point of your home. Does it make sense to install professional-class appliances home? 

Local Market: Are buyers in your area looking for a brand-new kitchen, or will your home be the only one? 

Budget: How much do you have to invest for your kitchen without too much of a dip in your home equity?

Minor kitchen remodel 

In a small kitchen remodel, you do a lot of the work of an existing kitchen, so you don't change it, change the layout or moving walls. Instead, you can replace cabinet fronts (but keep cabinet boxes) and add new hardware, upgrade to granite or quartz countertops, get a new set of matching equipment, again Can be prepared or put in new floors.

The remodeling magazine places minor kitchen remodels under the cost category of "midrange", due to the limited scope of work.

Major kitchen remodel

When remodeling a kitchen with a large arrangement, you are likely to overhaul the entire kitchen. You can move walls and rearrange the layout to be functional. You can add an island, semi-custom wood cabinets, energy-efficient appliances, a standard stainless steel sink and new flooring. The final touch may include freshly painted walls, trim, and ceilings.

In a large kitchen remodel, you can do the same task, but the finishes will be high quality - think of top-of-the-line custom cabinetry, stone countertops, high-end appliances, an imported ceramic or glass-backed backsplash.  An under mount sink, a faucet with water filtration, and advanced lighting, which can include general and work lighting, as well as LED lighting. The floor material will be tile, wood-looking tile, or wood.

What is my kitchen remodel ROI?

From a financial standpoint, the best (and smartest) type of kitchen remodel is one that you can enjoy yourself for a few years before selling, as you are unlikely to recover 100 percent of the money spent on renovation .

In fact, due to low housing inventories over the years, many people decide to remodel rather than sell. According to the SuGanta Housing Aspirations report, 76 percent of Americans polled used a set amount of money to upgrade their home to meet their needs.

But if you're planning to sell, listing your home with a brand-new (or almost brand-new) kitchen is a good way to attract a wider pool of buyers - and possibly a higher selling price. The average return on a kitchen remodel varies greatly by region, local market, and level of renovation you do. Remodeling magazine's Cost vs. Price Report 2019 breaks down average home sales by region and project scope.

Minor Kitchen Remodel ROI by Region 

The general rule is that the less money you spend upgrading the kitchen before resale, the better. Your goal is to get a facelift without too much over speeding or elevation. In addition to every sector in the report, a small kitchen remodel provides the best return on investment of any kitchen remodel type.

Should I remodel my kitchen before selling?

In short, yes. But if you are doing a kitchen remodel what are you doing with other homeowners in your area and looking for buyers. While you might not see 100 percent return on the money spent, you may have to reduce the time it takes to sell. 

Ask yourself these questions before hiring a contractor and demolishing your kitchen.
Do the surrounding homes see a return to kitchen renovation? Talk with your real estate agent to determine if recent computers in your area support remodeled kitchens. If you are selling yourself, check yourself. Running these numbers can help you figure out your budget and identify how much you should actually spend?

If you are in a hot real estate market with many new construction homes, then a major renovation may be worth it, as you are competing with brand-new kitchens. And if you leave your very dated kitchen, you can attract the following offers.

Can I remodel my kitchen? 

The first question you can ask yourself is how you will pay for this! After all, if you are hoping to sell your home for more money based on the upgrade kitchen, then you have not withdrawn that money until after the sale.

Unless you have the cash available to fund the renovation, you will need to take a refinance or home equity line (HELOC) to pay for the renewal, which will cut the profit in your pocket upon closing. Therefore, make sure that the project makes financial sense even when you factor in your payment method.

Does my house need other repairs? 

Yes, a new kitchen will attract new buyers, but the quarter countertops and Viking range will not save the deal if a home inspection reveals serious problems elsewhere in the home.

If you are considering spending thousands of dollars to get your home ready to sell, take care of serious red flags such as structural issues, a leaking roof, a failed HVAC system or electrical problems first. 

Where can I invest my money? If you are in an area where remodeling a small kitchen does not yield high returns, it may be worth considering a home improvement.

In the West North Central region, a small kitchen remodel ranks seventh only in terms of Rate of Investment. Adding midrange-built stone veneers to the exterior of the home is the highest iteration of any upgrade - 82.8 percent - followed by garage door replacement at 82.4 percent.

With thousands of online home listings at your fingertips, it's easy to compare your home to the latest and greatest kitchen trends. But this does not mean that every buyer is expecting a brand-new kitchen. If you do not want to go through the headache, time and expense of repairing a small or large kitchen and there is nothing functionally wrong with your kitchen, then selling with remodeling may be your best bet. 

If you feel that your kitchen can convince buyers, you can always get a no-obligation quote from SuGanta offers. Within a few days of submitting your request, we will let you know how much we will buy your house in cash. If you like the offer received, you can sell your house as a SuGanta and skip the listing process altogether.

How to boost your kitchen remodel Rate of Investment?

Use the following tips to save money and attract home buyers, do a fresh update in the kitchen.

Match your devices

You are better off matching all your appliances (so that they are all black or all white), than spending all your money on a fancy stainless steel appliance that will stick out and partially upgrade your kitchen.

Refine or paint your cabinet 

Less expensive than completely replacing cabinets or even replacing door fronts, refinishing or painting your cabinets can go a long way towards giving your kitchen a new, new look. This can certainly be a DIY project, but it is time consuming. To ensure a professional-looking finish, be prepared for a lot of prep work such as cleaning and sanding.

Refresh your sync grout

Even without changing the faucet or sink, removing and replacing moldery or peeling grout can keep your sink area clean and well maintained. This can be done even if you are not planning to replace the countertops.

Replace kitchen faucet

An easy and economical way is to exchange old kitchen faucet for something new and updated. Depending on your skill level, this may require a plumber.

Invest in new counters when needed 

Damaged countertops must be replaced, as they can give the whole kitchen an old look. The most cost-effective materials are laminate, butcher block or stainless steel (a look that only works on modern kitchens).

Install backslash 

If your kitchen does not have backplashes, adding one can be a major upgrade, and should only cost a few hundred dollars. This is a DIY project that many homeowners can handle. As far as material selection is concerned, subway tile is not only popular, but also very affordable.

Swap your lights

Dated pendant lights or a discolored overhead light can be easily switched out for something more modern. Many buyers prefer recessed lighting, but this requires large investments. If you really want to make an impact, consider installing undercasket LED strip lighting.

Replace knobs and drawer pulls

Probably the easiest upgrade of all, exchanging old cabinet hardware (or adding it for the first time) is an inexpensive project that can be completed in one afternoon. Even better, you can add soft-close cabinet hinges, which are popular with buyers.

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