Investing in a chef’s kitchen makes sense if you love to cook, enjoy entertaining and plan to stay in your home for a few years.
But if you expect to move, spending an estimated $80,000 isn’t the best financial move, as you can expect to recoup only about $60,000 of the cost, according to the National Association of the Remodeling Industry.
The bigger payoff is to give your kitchen a cosmetic update, says Yvonne Hall of Keller Williams Central Delaware.
“If you can refresh your cabinets with paint and new hardware, this may be the one thing that will help sell your home. Depending on the area of counter space, you may also consider new countertops,” she says.
At the top of the list of home improvement projects that do pay off is hardwood floors. Refinishing existing floors costs an average of $3,400 and returns $5,000. For every $5,000 spent on installing hardwoods, expect a return of $6,500.
“If you have old carpeting with hardwoods underneath, by all means, pull up the carpets,” Hall says.
▶ Primary bedroom-and-bath suite addition, 56%
▶ New garage doors, 94%
▶ Outdoor wood deck, 87%
▶ Midrange bathroom remodel, 70%
▶ Basement remodel, 75%
When making your home improvements, make the house feel light, clean and fresh throughout with a neutral palette.
“Paint, paint, paint,” advises Victoria Dickinson of Patterson-Schwartz in Greenville.
It’s one of the best returns on investment for sellers, who can expect to realize 109% of the cost of painting. A caveat: Steer clear of bold colors that appeal to a limited number of people.
Outdoors, paint the shutters and front door. Invest in curb appeal, paying special attention to the area from the front walkway to front door with an immaculate pathway and manicured lawn. Fresh mulch brings a 136% return on investment.
“Refresh, power wash and repair all as needed to create a vision of coming home,” Dickinson says.