There are many indicators that demonstrate that kitchen and bath renovations provide the best return on investment related to real estate values. The place to start is the budget. These renovations can be very costly depending on the materials chosen for the job. At the end of the day, it has to be about how much you have to spend to get the job done. And, it is not a good idea to over improve for the neighborhood or the home. For example, it makes no sense to spend $100,000 for a new kitchen in a home that is valued at $400,000 because in all likelihood the home will not increase in value by the dollars spent on the renovation.
The good news is that there are many cost effective options specific to flooring, tiles, appliances and cabinetry to accommodate any budget. It is best to stick to neutral tones with a splash of accent colors in order to avoid buyer objections later on when the home is sold. And, be careful about doing a renovation that is too trendy, which just a few short years later will seem out of date. Patterns in tiles will make the space look smaller. So while pattern tiles can be used for accents, doing a whole wall in a pattern tile is not the best idea.
Make sure you are working with a reputable contractor. Get more than one bid and check references. Stick with licensed contractors that have been in business for years. Get the necessary permits to do the job. As the saying goes measure three times and cut once. Change orders are possible once the job starts; but they can be costly. So make sure you like the plan and design you have selected and stick with it. And, just assume it will take more time than originally projected. Allow for 10% of the budget for unexpected expenses. Once the contractor opens up the walls, there can be issued that must be addressed to complete the job.
Kitchen and bath renovations are a good investment properly done. At Paragon Home Resources, we work with our customers to recommend reputable contractors to implement home renovations. Following the general rules in this post will lead to a good and valuable end result.
