The kitchen is the heart of a home: a space to create memories and build relationships. Whether hosting a large family gathering to celebrate a milestone or simply hanging out with friends over the weekend, the kitchen is a natural gathering place. If you’re considering an update or thinking something more dramatic, remodeling your kitchen is one of the best investments you can make. In Columbus, Ohio, where the housing market remains very competitive, an updated kitchen can be the deciding factor for many home purchases.
There are numerous sources citing a wide range of data when it comes to potential Return on Investment (ROI) of a kitchen remodel. However, we are focused on YOU, not the hypothetical person who may purchase your home in 15 years. That said, there is data showing that the return on a minor remodel will be higher than that of a mid-range or high-end kitchen remodel. There are several factors contributing to this, but mainly because subtle updates are not as expensive or labor intensive. Zillow states that a minor kitchen remodel with a cost of $26,790 recoups 85.7% (or $22,963). Luxury remodeling projects have a lower ROI range, simply because the initial cost of the item is greater to begin with. Over-improving may reduce ROI, while thoughtfully curated upgrades can deliver significant financial benefits.
What renovations will boost value?
- Cabinetry is a key component that will boost value. Modern cabinets with custom features like pull out drawers, and soft close hinges add functionality as well as aesthetic appeal to a project. Many home buyers expect this, especially in the Columbus metro and surrounding areas.
- Countertops are another item that home buyers are looking at when walking through a space. Cabinets and countertops take up so much surface area of a kitchen, that they create a lasting impression either good or bad, on a first time visitor. It makes sense to update these.
- Energy efficient appliances also can help the bottom line, as they reduce ever rising utility costs and can increase buyer interest.
- Current buyers, especially in central Ohio, are looking for flooring that is either hardwood or quality LVP (luxury vinyl plank) that is durable yet stylish.
Local trends to consider:
Data shows that locally, buyers favor open-concept kitchens that are modernized and functional. Aging-in-place features like pull-out shelving, non-slip flooring, and handrails that are thought out in the design process are also desired. We receive many phone calls from clients considering updates to existing homes so they can age in place. They’ve created memories in these homes, and have no desire to leave. So, we assist in tailoring the spaces so that they may continue life in the homes they love. By knowing these local trends, you’ll be able to make your home more marketable and valuable to future buyers.
The majority of ValEquity clients envision staying in, and loving their home for many years. They do the project primarily for themselves. They are planning to select the finishes they want, and customize the house to work for their lifestyle, not the potential buyer in two decades. This is a real thing – the “joy factor” – and that needs to be taken into consideration as well.
Investing in the kitchen in any aspect will raise the joy factor for both current and future homeowners. This is what motivates us, producing a space that is visually and emotionally pleasing to our clients. Updated functionality, like better lighting, organizational improvements and new appliances simply make everyday life tasks more enjoyable. A visually appealing kitchen is welcoming, and improved functionality aids in more enjoyable family gatherings and entertaining.
A kitchen remodel is more than an upgrade – it is an investment in your home and ultimately, your lifestyle. While the financial return won’t encompass all of your cost, socially we can almost guarantee a massive return. A new, modern kitchen will increase market value, but maybe more importantly, will contribute to greater enjoyment of the space during family gatherings and while entertaining friends.
Ready to begin the kitchen transformation in time for the 2025 holiday season? Contact ValEquity today and let’s start the remodeling journey together and push your home’s potential to the max!
