If you’re considering a kitchen remodel but know you’re not going to be in your home for much longer, you may be wondering if it’s worth it. That’s a tricky question to answer. As a kitchen remodeling company, we’re not going to tell you that you’re going to get your entire investment back, however, there are other benefits to remodeling your kitchen.
Average Return on Investment
The Remodeling 2020 Cost Vs. Value Report (www.costvsvalue.com) classifies kitchen remodeling in three different categories. Briefly, these categories include:
- Minor Kitchen Remodel Midrange – Reuse cabinet boxes but add new drawer and door fronts, replace all appliances with energy efficient models, new sink, countertops and faucet and new resilient flooring. The average RIO in the Tampa area on this type of remodel is about 84% and averages about $22,000.
- Major Kitchen Remodel Midrange – Update layout by adding island and new semi-custom cabinets, countertop, double-well stainless-steel sink and faucet. Replace appliances with energy efficient models including built in microwave and garbage disposal. Install new resilient flooring. You’ll recoup close to 60% of your investment on this type of remodel.
- Major Kitchen Remodel Upscale – As you can guess, this remodel includes most of what is in a midrange remodel except for higher grade elements. Here you’ll get custom cabinets, real wood or wood-look flooring, a water filtration system, undercabinet lighting, tile backsplash and natural stone countertops. The other upscale elements include a built-in refrigerator and commercial grade cooktop with downdraft. Again, you’ll recoup about 60% of your investment, but you’ll spend about $132,000 which is about twice what a midrange major remodel costs.
Benefits of Kitchen Remodeling
A question we hear often is, “If I’m never going to get my money out of the remodel, why would I even consider it?” There are other benefits than just resale value. First, you’ll enjoy using your space more which means you may actually use it. Studies show that people who have a kitchen they love eat at home more than those who don’t, which equates to saving money. Second, any Realtor will tell you that if your kitchen looks dated, it won’t appeal to as many buyers. You may find that your home sells faster with an updated kitchen. Lastly, there’s the benefit of energy savings and water savings. With updated energy efficient appliances, you’ll save on your gas and electric. Low-flow faucet and water saving dishwasher will use less water.
If you’re looking for an experienced kitchen remodeling company, call Jamco Unlimited. Whether you’re looking for a major change to your kitchen or just want to update the style, we can help. Call us today at (727) 412-8524 today to schedule your free no obligation consultation in your home or our showroom.