5 Key Considerations for Renovating Your Kitchen

According to a report in The Huffington Post, when it comes to selling a home, two of the most important rooms are “the kitchen and master bath”. It sounds a bit strange. Why would the appearance of two of the most utilitarian rooms in a home hold so much importance? Shouldn’t more attention be paid to the master bedroom, living room, and entertainment room, where people spend the most time “living life”?

According to seasoned realtors, the answer is no. A home’s kitchen and master bath receive top consideration for a practical reason: They’re the rooms that cost the most to renovate. So, if you put a spacious, well-appointed home on the market, don’t be surprised if prospective buyers stroll past the home theatre room and the cozy den, as they head to check out the kitchen and master bath first.

Considerations for Renovating Your Kitchen

In this entry, we focus on fixing up kitchens to help you make smart renovation decisions that pay off in one of two ways: By helping you attract lucrative sales offers for a house you’re ready to stop calling home, or by making the residence a finer place to live, if you plan to stay. Below are 5 key considerations that should figure into any renovation plans.

  1. Fair Market Value of the Home

Depending on the materials, appliances, and aesthetic treatments the kitchen receives, the project cost could run from a few thousand dollars to hundreds of thousands.  

If you’re selling a multi-million-dollar home, performing a six-figure renovation isn’t exactly splurging. However, if you spend the same amount on a kitchen in a home that has a low, six-figure price tag, you may not recoup your investment when you sell.      

  1. Quality of Renovation Materials

Look at other materials in the home. Are there high-end products like alabaster lamp globes, mahogany wood paneling, designer wallpaper, etc? If so, it’s probably in your best interest to extend the theme of domestic finery to the kitchen. Some rooms in homes that have simple interiors can seem out of place because they appear too extravagant, while others look strange for the opposite reason: They lack the panache that exudes the luxury of the rest of the home.       

  1. Plans to Own or Sell the Home

If you don’t plan to sell your residence any time soon, you have more leverage to design the kitchen exactly the way you want. If you’re a Route 66 buff, why not install an old car seat style booth that has scaled down, tailfin accents on the sides? If you love British rock, how about having a jukebox installed in the corner that plays all of your favorite Queen classics?

If you plan to sell your home soon, these eccentric designs are probably best saved for your next residence. Focus on renovations that should please everyone, such as medium tone, solid wood cabinetry, granite countertops, new appliances, and a deep pantry that’s been converted to hold a large refrigerator that sits flush with the wall.          

  1. Choosing the Right Contractor

In addition to choosing a contractor who meets essential requirements (licensing, insurance, certifications, etc.), select one with experience working on homes like yours in terms of age (new construction vs. century home, for example) and price (e.g., mansions vs. city bungalows).

It will help prevent costly construction errors that lead to time consuming rework.

For example, an HVAC worker who isn’t familiar with Victorian homes could do this: Remove wood wall paneling in a Victorian home to install air conditioning ducts, and then discover that the home doesn’t have sufficient space behind the walls to accommodate modern ductwork. Big mistake.  

  1. Getting Everything in Writing

Most contractors are ethical, and treat you like a valued customer, but there are some bad apples in the bunch — and you often don’t know who they are until it’s too late. It’s important to get all major parts of the project in writing, specifically: project cost, payment arrangements, itemized expense list for products and services, and completion date. Ideally, making the final payment should be contingent on the work being finished on schedule.

Let Us Help You with Your Renovation Plans

If you have home renovation plans, and you need financing to see them through, consider the home equity lines of credit (HELOC) available from American Eagle Credit Union. We finance home renovation projects of all sizes on attractive terms and conditions. To review the best loan options for your plans, call us today at (800) 325-9905, or use our contact form. We look forward to hearing from you!  

Thank you for your thoughts and comments on this blog topic. We welcome hearing from you. For your security, please do not to request transactions to your account in your comments. Additionally, do not include confidential information in your comments as this communication is not a secure channel for transmission.