1. A New Kitchen
A new Kitchen:
If you are looking for the best bang for your renovation dollar, kitchens and bathrooms are still considered to be the projects with the highest potential to add or maintain value in a home.
If you are considering selling your home in the near future, talk to a REALTOR® for tips on how to make your home more appealing and “saleable.” You may find that a new kitchen is not in your best interests and a fresh coat of paint and some minor repairs are all that’s needed. Because renovating a kitchen can be one of the more expensive projects a homeowner will undertake, you’ll want to consider the length of time you expect to stay in your house.
According to the Appraisal Institute of Canada, if you are remodeling your kitchen as a face-lift prior to selling it, it’s recommended that you spend no more than 10-15% of the cost of your house. If you are going to remain in your house for more than five years, you can spend 25% or more – and in most cases you will recoup the cost of the renovation when you sell.
How much will it cost?
Keeping costs down
Regardless of what you do budget, don't skimp on design, appliances, or labor. These are the basis for a functional kitchen and you should get the best you can afford. To keep costs to a minimum, use stock cabinets instead of custom work, laminates instead of solids, and hang on to your current appliances, if you can. Also try to keep your existing plumbing and electrical and don't make structural changes to the room.
Planning ahead in detail will also save you money. Any changes or corrections halfway through the process will be expensive.
Tips for low cost kitchen makeovers
Resurface or repaint old cupboards
Use more glass
Change your hardware
Floor and wall facelifts
If you plan to completely remodel the kitchen, be honest about your ability. You may want to leave this important job in the hands of an expert who can do the work quickly and professionally. A kitchen designer/contractor can suggest unique ideas and come up with creative solutions to particular problems. Finally, be sure to get at least two bids on the work you plan to do and compare these carefully.
The above article is brought to you by Joey Khan and the source of information is by the Ontario Real Estate Association (OREA). Please feel free to contact me.
Joey Khan, REALTOR®
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