If you’re considering a home renovation, the number one question you need to ask yourself is this: will you see a return on the money you’re putting into your home? We’d like to think that all renovations will add value to a home, but the truth is that it’s not always the case. It’s crucial that you be wise with your renovations to that you get back what you put in—if not more.
One place that you’re nearly always going to see a return on investment is with the kitchen. In fact, did you know that you can expect to see anywhere between a 50-90 percent return on the money you put into your kitchen? Sounds like a pretty sweet deal, right? Well, it sure can be. And according to the Annual BMO Home Renovation Report for Canada in 2012, about half of all homeowners planned to renovate that year, with the vast majority focusing on projects they felt would generate the biggest returns…kitchens being a top priority.
DIY and Your Kitchen—Good Idea or Bad idea?
Some people will try to squeeze every dollar they can out of their investment. To do so, they’ll try to undertake their kitchen remodel on their own. In most cases, this simply isn’t recommended. Unless you have lots of experience, chances are the project is going to be a lot more work than you anticipated.
There’s a reason why contractors charge such high rates—the work is difficult. There are so many things that can go wrong. Take something as simple as joining two pipes together under a sink. If you don’t use the right sealants and align the pipes just so, you’re looking at a water leak that could cost you hundreds or even thousands of dollars down the road. Your best bet is to bring in a construction company that knows what they’re doing. Pay a little extra up front now and save yourself a lot of time, money, and heartache in the future.
Things to Consider for Your Kitchen Remodel
Looking for some ideas of how to take your kitchen to the next level? Here are a few ideas to consider:
- Add a sink to that island. Many kitchen remodels open up the space and add an island. But imagine how convenient it would be to have an extra sink in that island. This will be a great benefit when it comes time to sell your home. But again, you don’t want to try this on your own, as the plumbing can prove tricky.
- New countertops. From the tried and true granite to custom concrete or wood grain, new countertops will make potential buyers swoon.
- More storage. You can never have too much storage. If you’re considering new cabinets, do it!
- Go energy efficient. More and more homeowners in Canada who renovate are focusing on making everything energy efficient. For example, you can install an energy efficient, variable speed exhaust fan to clear fumes in the quickest, most eco-friendly manner possible. Check the Energy Star website for the newest, most efficient models.
Get the Highest Return Possible
You’re going to make a nice return if you handle your kitchen remodel properly. Be wise, get good help, and remember to go energy efficient!
Thanks to Emily of Procraft Construction for sharing these tips.
Photo credit: homeartblog.com