Follow these strategies to get the most financial gain on your kitchen remodel. And if done right, a kitchen remodel can recoup much of its cost. Kitchen remodels in the $50,000 to $60,000 range recoup about 69% of the initial project cost when the home is sold.
A minor kitchen remodel of about $18,500 does even better, returning more than 75% of your investment, according to the most recent Cost vs. Value data from Remodeling magazine.
To maximize your return on investment, follow these strategies to keep you on budget and help you make smart choices.
1. Plan, Plan, Plan
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Planning your kitchen remodel should take more time than the actual construction. If you plan well, the amount of time you’re inconvenienced by construction mayhem will be minimized. Plus, you’re more likely to stay on budget.
How much time should you spend planning? The National Kitchen and Bath Association recommends at least six months. That way, you won’t be tempted to change your mind during construction and create change orders, which will inflate construction costs and hurt your return on investment.
Some tips on planning:
Study your existing kitchen: How wide is the doorway into your kitchen? It’s a common mistake many homeowners make: Buying the extra-large fridge only to find they can’t get it in the doorway. To avoid mistakes like this, create a drawing of your kitchen with measurements for doorways, walkways, counters, etc. And don’t forget height, too.
Think about traffic patterns: Work aisles should be a minimum of 42 inches wide and at least 48 inches wide for households with multiple cooks.
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Design with ergonomics in mind: Drawers or pull-out shelves in base cabinets; counter heights that can adjust up or down; a wall oven instead of a range: These are all features that make a kitchen accessible to everyone — and a pleasure to work in.
Related: Test Your Ergonomic Design Knowledge
Plan for the unforeseeable: Even if you’ve planned down to the number of nails you’ll need in your remodel, expect the unexpected. Build in a little leeway for completing the remodel. Want it done by Thanksgiving? Then plan to be done before Halloween.
Choose all your fixtures and materials before starting: Contractors will be able to make more accurate bids, and you’ll lessen the risk of delays because of back orders.
Don’t be afraid to seek help: A professional designer can simplify your kitchen remodel. Pros help make style decisions, foresee potential problems, and schedule contractors. Expect fees around $50 to $150 per hour, or 5% to 15% of the total cost of the project.
More tips on planning a kitchen remodel coming soon:
Keep the same footprint
Get real about appliances
Don't underestimate the power of lighting
Be quality-conscious
Add storage, not space
Communicate clearly with your remodelers
