Should we redo the kitchen?
Published June 22nd, 2008 in Design and Decor, Repair and RenovationIs it worth it to redo kitchen? — chicagotribune.com
One of the most common questions sellers ask us is whether or not they should remodel their home before putting it on the market. The kitchen is an obvious target because it has the most features that are susceptible to changes in style and taste. Trends come and go for stone countertops, finishes on cabinets, and the look and features of appliances, and after a few years sellers may be afraid that their choices will limit market appeal.
The article linked above refers to a 2007 report from Remodeling magazine that compares the cost of remodeling projects to the amount they add to a home’s resale value. On average, mid-range kitchen remodels add 83 percent of their cost to market value, while major remodeling jobs add 77 percent.
We always tell people to consider how much they will enjoy a particular upgrade while living there, and for how long. If you are planning to move soon, you may be better off saving the money. But if you’ll be able to live in the house and enjoy a new kitchen for a few years, the cost may be worth it.