As Milton kitchen designers, we have a lot of conversations with our clients about budgets. Every project has a budget. Pragmatically, people want to know if the money they’re spending to upgrade the kitchen will ultimately be worth it.
There are a couple of ways to answer that question. If you’re planning on selling your home within the next three to five years, it’s helpful to know that the average ROI on a major upscale kitchen remodel is 54%. That means you get more than half of your money back when the home is sold, at least in current market conditions.
What if you’re not planning on selling your home anytime soon? Then it’s good to know that kitchen renovations top the list of ways to increase the value of your home, particularly if the rest of the home is in good shape.
In fact, House Beautiful, a magazine focused on the needs of the upscale homeowner, says that if you’re planning on being in your home for more than five years, invest what you can afford for the look and upgrades that you want.
A Special Note on Kitchen Renovations for Older Homeowners
If you’re planning a kitchen remodel that allows you to age in place – living independently as long as possible without needing to go into senior housing – it’s absolutely cost-effective to integrate the necessary upgrades now and let the savings play out over the long term. A well-built kitchen might be quite an investment but when compared to the costs of senior housing, it’s surprisingly affordable.
If you have questions about renovating your kitchen to ensure independent living is possible, talk to your Milton kitchen designer. Ever since the Baby Boomer generation began retiring in 2012 the kitchen design industry has developed a myriad of products and upgrades that make staying at home longer easier.
