I recently spoke with a long-time client of mine about a kitchen remodel they were contemplating. She wanted to know what kind of return she would get on her investment of a complete kitchen remodel. I told her she could expect about 98%, but it could be more!
If you were able to do some of the work yourself or maybe refurbish the cabinets rather than replace, you most likely would get that 100% return.
I also think it has a lot to do with size of home, and even the area where the home is located. If you have a larger home, and live in a more upscale area, you would most likely get more than the 98% return on your complete kitchen remodel, in my opinion. Buyers of those larger, more expensive homes, expect a beautiful updated kitchen. And they are usually willing to pay extra for it.
Naturally, the remodel has to be functional as well as beautiful. Installing a small range in a large chef’s kitchen won’t make sense. Likewise, you would want to install a vent/hood that will definitely do the job over a large six-burner range. And don’t skimp on cupboard and storage space! Making mistakes like this in a remodel can be costly when it comes time to resell.
Nothing is wrong with style or adding personal touches in a kitchen, but it must be functional first! The kitchen is usually the heart of the home, and being functional is key to longevity in your remodel. Trends and styles can come and go, but function and usability are forever.