A Kitchen Renovation Today on a Budget: Maximize Home Equity with Smart Upgrades
- Mary Neumann
- Apr 8, 2024
- 1 min read
Monday, April 8th, 2024
Revamping your kitchen in 2024 can enhance your home's value and aesthetics without a hefty expense. Drawing insights from industry experts, let's outline how to execute a budget-friendly kitchen renovation that can significantly increase your home's equity.
Understanding Your Budget:
Setting a budget of 5-15% of your home's total value is a practical starting point. For example, a home valued at $500,000 translates to a $25,000 to $75,000 budget range, aligning with recommendations from the National Association of Realtors® and Remodeling Magazine's “Cost vs. Value Report 2023”. Invest in upgrades with the highest ROI, like repainting cabinets or installing energy-efficient appliances, which can dramatically transform your space, as Houzz and HomeAdvisor insights suggest.
Keep the Layout; Upgrade the Look:
To manage your budget during a kitchen renovation, preserving the existing layout is key. The Joint Center for Housing Studies at Harvard University suggests upgrading materials and fixtures to rejuvenate the space without altering its structure.
A licensed and insured contractor specializing in a cohesive design that enhances your home's original architecture, maximizing appeal and equity, is recommended for extensive renovations.
Your renovation should fulfill your needs within a reasonable budget. Strategic planning and professional guidance can yield a remarkable kitchen that boosts your home's value and enjoyment.
Today's Kitchen Renovation on a Budget: Maximize Home
Citations:
National Association of Realtors®
Houzz
HomeAdvisor
Joint Center for Housing Studies of Harvard University - https://www.jchs.harvard.edu/sites/default/files/reports/files/JCHS-Improving-Americas-Housing-2023-Report.pdf
Remodeling Magazine's, "Cost vs. Value Report 2023" - https://www.remodeling.hw.net/cost-vs-value/2023/
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