Kitchen Remodeling in Troy MI – Add Value and Life to Your Home

by | May 13, 2020 | Home Improvement

If you are searching for a way to increase your home’s value, chances are you are considering what investment will be best in Troy MI. Major home improvement and remodeling projects are not an inexpensive endeavour, which means it is essential to recognize the value of your dollar. Since kitchen remodeling in Troy MI is a major home improvement, it also provides a pretty significant return on investment. Based on the actual housing market as well as the type of improvements that are made, remodeling your kitchen can boost the home’s resale value quite a bit.

How will Your Kitchen Fare?

While they can be quite expensive, major kitchen remodeling in Troy MI projects will provide a significant cost-to-value ratio for a homeowner. According to a recent report, kitchen remodeling fares better than bathroom remodels in regard to home value. In fact, a kitchen remodel will provide a return of almost 69 percent, whereas the bathroom remodel will only offer a 57.2 return. Additionally, kitchen remodeling will rank well in terms of increasing the home’s value when it features a quality design.

The Role of the Market

The strength of the housing market will also have a direct impact on the ROI of the kitchen remodeling investment. An anaemic housing market can take its toll on the resale value of all homes, while a more robust market will help to ensure maximum ROI for these types of remodeling investments.

Minor Remodeling Projects

In most cases, minor kitchen remodeling will include new drawer fronts, new cabinet doors, new countertops and appliances. There is no change to the floor or plumbing and other improvements are minimal. If you are on a tight budget but desire a new look, then changing the kitchen cabinets will provide immediate value. A kitchen that is painted and new cabinets are added will provide a pretty nice return on investment when you decide to sell the home.

No Profit, but Additional Advantages

It is important to remember that these improvement projects will not provide you with actual profits. In fact, you may never recover the initial cost of this when you sell your home. However, it will help your home sell much faster in Troy MI. It will also allow you to sell your home for a larger amount in a good market. Try to keep this in mind when making improvements and ensure you add features that will benefit you while in the home.

For more information about how a kitchen remodeling project can increase your home’s overall value in Troy MI, contact Acorn Kitchen and Bath, today.

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