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What is the average return on kitchen remodel investment?

For example, if you spend $30k to upgrade, how much can you reasonably expect to get back when you sell?
  • June 17 2011 - US
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Answers (3)

As Thomas noted in his answer, the cost vs. value report is a good place to start to get an average estimated return.

But there are many additional variables to consider, so no one can give you a "one-size-fits-all" answer. However, there are many ways to maximize your project's return.
 
One way would be to work with a remodeling contractor (preferably a design/build contractor) who is well established in your community. He should be able to advise you on what kitchen remodels and/or upgrades are typical for your neighborhood, and offer guidance on getting the most value for your money.

The contractor should be asking detailed questions not only about the remodel itself, but other factors such as how long you plan to remain in your house, etc. Your answers will help him determine what remodeling options to present to you. If re-sell value is your primary objective, you need to let him know that.
 
Obviously, your return on any remodel changes if you're putting your home up for sale in the next couple years vs. remaining in it for the next 20 years.

Also, you can attend open houses in your neighborhood to get an idea of how your current/planned remodel kitchen compares. A local real estate agent can also help advise you on the current market values.

But when remodeling - if you stay with a classic design, good quality products and craftsmanship, and don't over-improve for the neighborhood, you stand the best chance of maximizing your investment.

Finally, there's no price tag on your personal enjoyment that comes from having a beautiful and functional home to live in! :)

Hope this helps!
  • June 27 2011
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There's several web sites that can give you a very good idea of your ROI (Return On Investment) value for different projects. The problem with those is that their values are very general and not specific to a location, not even to a concept or design.

If you are concern about your investment for resale value I would strongly recommend hiring a Designer first but if you can not afford [hotlink removed by Zillow moderator]

  • June 18 2011
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Hi Jossy,
 Check out this website for reports on National and Regional remodeling averages. These compare COST vs. VALUE (return) which will give you a fairly good idea of return. The main link will take you to national averages, but you can select your specific region with the drop down in the little box...
 These numbers ARE averages, so you have to consider many other factors as well... Some things to consider are:
1) Your homes level of quality and upgrades vs like homes in the area
2) Your location.
3) The extremely weird real estate market we are in right now.
4) Design, Style, & Color choices you make (your taste might differ than what potential buyers are looking for)

The list of variables can go on and on...
 
My one major piece of advice to everyone would be:
  HIRE a Professional Kitchen Designer to help you make the choices that are correct for your remodeling goals. Any additional costs associated with a designer are easily made up by the help, advice, and direction a designer will bring to your project. A designer can usually save you money on materials and product purchases too through their industry connections, and also by helping you stay focused on smart budget choices. A designer will also help you avoid the costly mistakes that often occur when a professional designer isn't involved.

 Good Luck!
 Thomas
  • June 17 2011
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