Should you consider cost or value when budgeting for a kitchen remodel? When you set your kitchen remodeling budget, how much consideration should you give to what your home will be worth after the project is complete? Kitchen remodeling can be expensive and your home is probably one of your most valuable assets. Therefore, it’s important to understand what return you may realize by investing in your home. In 2022, expect to see increased costs for building materials due to ongoing global supply chain issues. Despite this current situation in the economy, the housing market is booming and a kitchen remodel is a great investment.
Focusing on Kitchen Remodeling Cost Versus Value
We can’t always plan how long we will live in a home. For that reason, ROI-return on investment, has become important to homeowners. Cost versus value measures the percentage of your remodeling investment that will result in a higher value and sale price. The Hanley-Wood Report tracks the ratio of value over cost for 22 common remodeling projects.
How to Measure the Total Value of a Remodeling Project?
When you are weighing the costs, time, and effort of a kitchen remodel, don’t forget to add the personal value of increased functionality and making your home a wonderful place to be. If you're planning on living in your home for many years make it what you want, but a good rule of thumb used by professional remodelers is: the more difficult and costly the materials are to replace, the more neutral they should be.
What if you're planning on staying in your home for at least 5 to 10 years? Then, you are investing in lifestyle, or quality of family life in your home. As you consider remodeling your kitchen, know that buyers always value kitchens that are attractive, functional, and updated.
With CliqStudios’ multiple cabinet lines we can help you build the kitchen of your dreams in the budget you determine. So, let’s get started!