by: Art Mancino
President of Artistic Kitchens & More
Not so long ago, homeowners would never remodel a kitchen or a bath, replace siding, or add a swimming pool solely to enhance the resale value of their home. However, today an increasing number of homeowners are beginning to realize the importance of investing in their homes to enhance the resale value.
Although homeowners still focus on home improvements based on need, return on investment has now become a major consideration for most as well. Some home improvements can pay off dramatically better than others when the time comes to sell. So before homeowners decide on any such projects, they should know which ones are the most likely to reward them in the end.
Over the years many independent appraisers, real estate agents, builders, and architects have been consulted with regards to home improvements and return on investment. And they all seem to agree that a remodeled kitchen or master bathroom is a homeowner’s best bet. Moreover, the consensus among realtors is that the kitchen and master bathroom are the two most important rooms in the house. They are the ones that most perspective buyers look at first.
By acclamation, a newly remodeled kitchen is the most profitable project a homeowner can undertake. The kitchen again has become the nerve center in many homes, the focus around which most activities revolve. Significantly, family rooms now often are put near the kitchen instead of in the basement, and real estate agents will tell you that a newly remodeled kitchen that ties in well with the rest of the home will bring the biggest smile to a buyers face. The average value added, if a home is sold within 5 years of the remodeling project can be as high as 120% of the cost.
In terms of value, bathroom remodeling is not far behind that of kitchens. Average value added by a bathroom addition or remodeling is 75 to 100 percent of the cost.
Remodeling options for the kitchen and bathroom abound. Elaborate kitchen and bathroom remodeling projects, although sure investments, don’t necessarily garner the best return. Many homeowners are seeking options to conventional remodeling methods to increase their return, and kitchen or bathroom vanity cabinet refacing are fast becoming two of the more popular choices.
With cabinet refacing, existing kitchen cabinets or bathroom vanities are recycled. Rather than tear out and discard the old cabinets, new solid wood or veneer is applied to the face-frame, and matching custom made solid wood ¾” doors and drawer fronts, decorative handles, and self-closing hinges are added. This completely updates the décor of the kitchen or bath without the expense, time, and inconvenience of replacing with new cabinetry. Refacing takes a matter of days instead of weeks. In addition, there are many more wood species and varieties available with refacing than new cabinets.
It is important that homeowners planning for improvements spend time researching all of the alternatives. There are many remodeling options like cabinet refacing that can further improve the investment in your home. It is smart business to discuss these options with your contractor before you begin your home improvement project.
Art Mancino is President of Artistic Kitchens & More llc., specializing in custom refacing and complete kitchen remodels. He can be reached at 770 998-0248 or email@example.com