Profile picture for KmahaneyII

Kitchen remodel Question.

How much does updating your kitchen increase the price of your home? We have spent around 10k on wood floors, granite counter top, all new stainless appliances and new cabinets. They are kraftmaid cabinets if that makes a differance. We bought our house for about 152,xxx dollars. I'm only asking because we plan on selling our home in 1-2 years. We only replaced our cabinets due to water damage and the tops were falling down on us. Please help. Thanks.
  • November 20 2012 - US
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Answers (6)

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  • December 06 2012
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The return for your remodel will definitely depend on the market in 1-2 years because of the constant change. Also your return will be contingent on how the rest of the home looks. If you only upgrade the kitchen and the rest of  your home needs work or updating, then this will decrease the amount of return you will gain.

There are reports that can help you with the ROI of a project for your home, but it is really up to the buyers searching for homes in your area. If they value the kitchen remodel to be worth more than the price you paid then you will find a great amount of money returned to you at the end of the sale.
  • November 23 2012
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The return on investment (ROI) for a kitchen remodel varies by location.  For example, if you live in a neighborhood where updated kitchens are the standard, then you may need to catch up to the trend to avoid your home being passed over by prospective buyers.

Also, if you plan to live in the home years after the remodel, then the important factor is that you enjoy your updated kitchen.

If you are thinking about selling your home, then your best bet in getting a more accurate estimation on your ROI, contact a local real estate agent that you trust.

Chad Gray PA, Realtor
Luxury Living Fort Lauderdale
Coldwell Banker Residential Real Estate

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  • November 23 2012
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You cannot estimate the overall value of your house just by improving the kitchen. Although kitchen being the central hub of your home most of the people renovate their kitchen just to increase the resale value of their home. I have improved almost 1/4th of total value of my house just by renovating my kitchen. I have installed [hotlink removed by Zillow moderator] which eliminated the cost of contractor, the electronic devices where kept unchanged.
  • November 23 2012
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Profile picture for DustToDreams
I am a contractor, so I may not be the most accurate source for your answer.  With that being said, I must applaud you on getting that much accomplished with a $10,000 budget!  From my experience, as remodels get more extravagant (and costly) the lower the Return On Investment becomes.  As long as your remodel is tasteful to the masses you should definitely be on the high end of the ROI scale.

Visit this website for a cost vs value report in your area.  
  • November 22 2012
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Profile picture for bcrtawas
Return on investment for a kitchen remodel, varies by location and it returns the highest percentage of cost over other types of remodeling.In most cases is approximately 75% return of the cost. The remodel you describe may give a greater return if your purchase price was based on the damaged kitchen and therefore lower than it would have been if the damage was not present.  If the damage/defects were from wear and tear over the time you have owned your home then the 75% figure is more likely. A remodel, to your taste, of an functional kitchen rarely returns 100% of the cost to remodel..after all you already had a kitchen before the remodel, it is just improved after the remodel.
  • November 20 2012
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