Best Remodeling Investments-- Kitchens Are HOT!
Considering a remodel but are concerned that the investment
might outweigh the value added to your home? If you are
considering a kitchen remodel, it could be an excellent
investment.
I have always told my clients considering putting their homes
on the market, that kitchens and bathrooms sell homes. A recent
report from National Association of Realtors (NAR) agrees. In
late December, the NAR released the 2005 Cost VS Value Report
for home remodels. This study looked at cost data, resale value
and percentage recouped for 18 different projects in 58 housing
markets across the United States. With major, mid-range kitchen
remodel, a homeowner can expect to recoup almost all of their
expenses with an average 92 percent return on investment. This
is up from 66 percent in a similar study in 2002.
Before a considering remodeling your kitchen, you need to
understand "Why" you are undertaking this project. Is it because
you trip over yourselves in the kitchen in a home you love and
plan to stay in forever? Or is it because you plan to move and
the 1970's orange counter and olive green appliances are too
ugly to get the best price for the home. The approach to the
perfect remodel will be different if you are planning to stay in
the home for the long term.
Family Lifestyle Inventory
If you are designing the perfect kitchen for your family, take a
lifestyle inventory. This is a process where you answer
questions to understand what will be the most important needs
specific to your family for the new space. It will help you and
your designer to incorporate important details into your plan.
Consider cooking habits: One cook or two? Baker? Left-handed?
Do you do dishes as you cook? Lots of Gadgets? Buy in Bulk? One
oven or two?
Consider eating habits: Family gatherings? Everyone for
themselves? Eat outdoors? Need morning sunshine? Entertaining?
Other Considerations: TV in kitchen? Computer or home office
needs? Homework? Laundry? Will the family grow? Older relatives?
Handicap Accessibility requirements?
All of these are things to consider when making a decision on
whether and how to remodel your kitchen. Work with a designer or
use a remodeling design software that will take into account the
important specific needs of your family.
Trends for Today's Kitchens
For a remodel to add value at resale, you must consider current
needs and trends. So what are the hot for trends for kitchens
today?
Open to Family Room or Great Room
Maple cabinetry is a first choice. Cherry is a close second.
Painted or enameled are also desirable. A variety of heights,
lots of moldings, cabinetry looks and no soffits are the trends.
Modern Stainless Steel Appliances. Cook tops separate from
ovens.
Breakfast Bar/Informal Eating Area and multi-level counter
tops.
Office/Communication area
Access to Deck or Patio for Outdoor Entertaining.
Stainless steel sinks with instant hot water systems.
Pantry or Other Easy Access Storage.
Multiple types of Lighting (Bright for tasks, Indirect for
mood).
Windows for Natural Light
For natural wood flooring oak is the first choice for
durability.
Laminates are also very popular.
Granite or Quartz-based granite clones for counters or islands
(Zodiac, Cambria, Silstone). Too expensive to do the whole
kitchen in granite? Consider just the island in granite and the
bulk of the counter in a complimentary colored laminate.
Ceramic tile back splashes.
Stick to Your Budget
It is easy to get caught up in the remodeling process and go
over budget. Take time from the start to reflect on your
family's needs and reasons for the remodel. Consider options
that make the most sense for your family, budget and
neighborhood. Make certain that the kitchen isn't build way
beyond the quality and value of the rest of the home. Remember
remodeling for family use will cost more than a remodel for
resale.
If remodeling specifically to put your home on the market, take
into consideration the quality and condition of the home. A good
Realtor who knows your market can assist you here. If you are in
an upscale neighborhood where homebuyers will expect high-end
quality, don't make discount-store decisions. Likewise, if your
home is in an area of modest or lower value homes, skip the
cherry cupboards and granite counters. Understanding the market
place you are in will help you to recoup the most from your
investment.
Spending a little extra time in the planning stage can reduce
the headaches and heartaches of a construction project that does
not meet expectations. Taking your time will allow you to make
the wise decisions that add value to your most important
financial investment, your home.
Copyright 2006 Teri Eckholm