Return of Investment for Kitchen Remodel

Apr 13, 2010 | Ask the Contractor, Design Ideas, Kitchen

TrendMark on HGTV's Bang for Your Buck

HGTV’s Bang for Your Buck Raleigh Episode

Now that the February 19th episode of HGTV’s Bang For Your Buck has aired, TrendMark’s thrilled to know that its remodel entry, the Agraz kitchen, had the greatest ROI (return on investment) of the three kitchens featured on the show! After analyzing the elements of the three Raleigh area remodels, Vern Yip, HGTV’s professional interior designer, announced that the Agraz project would bring 101% return on their investment, as compared to 84% and 90% for the other two kitchens shown on the program.

What made the difference in the value of the projects? It’s all about choices! When you begin a major remodel project, there are generally several criteria: you want to update, you want to redecorate, and you may want to add elements that you currently don’t have in your kitchen. There are so many products on the market today – each with its own special appeal – that making these choices is not really easy. Here’s where a professional remodeler can provide the guidance needed to select quality products that have long-term value while coming together to create the kitchen of your dreams.

What gives the results long-term value? Regardless of whether you’re remodeling a home for your long-term stay or you want to sell it, you should still be concerned about the effect your efforts will have on the worth of the home. Nothing increases the value of a house like updated kitchens and bathrooms! However, as Vern Yip pointed out, “Don’t be too taste specific.” For instance, a kitchen with a bright red stove — maybe an element you love — might not generally appeal to other homebuyers. Your choice to save money by not putting in those granite countertops may turn away potential buyers should you try to sell the home.  Even if you stay in the home for the long run, you may still regret not investing in that granite upgrade.

Yip provided a list of other items that can maximize your remodeling investment:

  • Adding square footage is a major element; opening up a kitchen by removing walls is always a winning strategy;
  • Using neutral materials so that the décor can be altered with the use of accent colors in window treatments, cookware, towels, area rugs, or dishes is preferable;
  • Where possible, add nice custom materials. Scrimping on a faucet or range hood can ruin the overall look of the kitchen.

The value of a professional remodeler is really critical when a homeowner is trying to get the most out of their budget. By nature of the remodeler’s extensive experience in many other similar (as well as contrasting) projects, professional remodelers have concrete answers on remodeling value and which choices will bring the most bang for your buck. They have exposure to a wide range of products and sources that may be unknown to the homeowner, which can often transform a potentially mediocre remodeling effort into a WOW project!

The Raleigh Kitchen Remodel episode of Bang For Your Buck will be on again on April 14 at 2pm, May 2 at 3 pm, and May 14 at 2p; see HGTV’s Bang for Your Buck Website for complete listing!

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