If you are only allowed to update one room in your home, chances are the kitchen is your best bet. Buyers are especially demanding when it comes to the most used room in any house.
Looking at the photos of this kitchen remodel (above) I didn’t think the “Before” looked poor, in any respect. But “Wow!” would you look at the “After” photo? It’s certainly impressive. (Although, I do think those bar stools no longer fit the image of the room.)
The Courier article states:
Kitchen remodels are a popular option and can pay off. The annual Hanley Wood LLC “Cost vs. Value” report for 2007 shows that for the East South Central area of the United States, which includes Louisville, the average midrange major kitchen remodel, priced at $55,503, returned 81 percent of its cost to homeowners upon resale, while the average minor kitchen remodel, priced at $21,185, returned 85 percent of its cost upon resale.
The number, 81% for a midrange kitchen remodel, is just a bit higher than the National Average of 80.4%, which Louisville Homes Blog reported on in our 5/07 post called Home Improvement Recouping Costs. The same project in Louisville, Kentucky would rank just a bit lower at 78%.
It’s important to keep in mind the relative condition of the room prior to the remodel before undertaking the project. If the room is in terrible shape currently, the remodel makes more sense. If the room is already in what might be considered standard or average condition, the benefit will be marginally less.