With the current volatility of the housing and lending market, many homeowners are staying in their current residences rather than purchasing larger homes. Families that may have planned to stay in their present home for just 5 or 6 years, are finding themselves staying there a decade or more. So, to increase the beauty and resale value of their home, they are upgrading their homes by redesigning their kitchens or bathrooms.
A bathroom renovation can add a 100% return on investment (ROI) to the value of a home, and a kitchen redesign can add nearly 95% ROI, according to the NY Home and Garden Show. Not to mention, an updated kitchen or bathroom design is appealing to new home owners, who won’t have to invest the time, money and effort into updating the room on their own.
As you know, the kitchen is the heart of a home. Whether you are throwing a party, or just chit-chatting with family, people mainly congregate in the kitchen. So a kitchen designed with comfort and accommodation in mind, can dramatically increase the value and sale-ability of a home. Function and convenience is paramount of course, but to implement family-friendly and comfortable features into the design as well, like new kitchen sinks and/or kitchen faucets, which will make it even more appealing to future buyers.
The same goes for bathrooms. Unlike kitchens which are a “meeting place” for the family, the bathroom is a place for solitude and private time. So with that in mind, aim to make the place as comfortable as possible. Utilize modern fixtures such as bathroom vanities and add space-saving storage.
As said before, you can expect roughly a 100% ROI on your kitchen or bathroom redesign. So, if you spend $5000 on a new bathroom, you can add $5000 to the selling price of your home. With that in mind, what do you have to lose?
Products to help you upgrade or redesign you kitchen and bathroom: