How a Kitchen Renovation Increases the Value of a Real Estate Property

For most families, the kitchen is the heart of the home. This is why a working kitchen that is clean and fully organized will always be attractive to prospective buyers for a real estate property.

For this reason, older homes with a renovated kitchen will always have a higher property value than a home of the same age that has yet to have a remodeled kitchen.

How a Kitchen Renovation Increases the Value of a Real Estate Property

Personal Finance website DaveRamsey.com explains why an upgraded kitchen raises the value of a residential property. “It’s no shock that buyers are willing to pay more for high-end finishes and thoughtful upgrades. According to a recent survey, 80% of homebuyers placed the kitchen in their list of top three most important spaces. And of buyers who bought homes without certain features, 69% of those surveyed said they would have paid more for new appliances and 55% said they would have paid more for granite counters.” The continuation of the explanation can be found here.

Caution in the Renovation

The increase in real estate property value though should not mean investing too much on a kitchen upgrade. Moneycrashers.com says spending way too much for a fancy kitchen that may not match the whole home can ruin the chances of the home getting sold quickly at a cost that recoup the investment.

“Get the biggest bang for your buck on a kitchen remodel by looking at color. Fresh paint, in modern colors, can go a long way towards updating the look of your kitchen. Plus, paint is relatively cheap. You might want to consider using low-VOC paint; this makes your kitchen more eco-friendly, and helps your family avoid breathing in dangerous chemicals, like benzene, that off-gas from regular fresh paint.”

The rest of the explanation can be found here.

Upgrading kitchen equipment will also raise the value of a property. Badly needed updates in the stove, microwave, oven, refrigerator and dishwasher will go a long way.

 

Realty Davao
Mt. Tres Marias Dinaville Subdivision, Ma-a, Davao City, 8000 Davao del Sur
(082) 284 5494
https://realtydavao.com/

The post How a Kitchen Renovation Increases the Value of a Real Estate Property appeared first on Realty Davao.

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