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Will a Kitchen Remodel Increase Your Home's Value?

Daryl Owen

Daryl is the Founder, CEO and visionary behind one of America's largest independently owned real estate firms.At the age of 21 Daryl acquired his firs...

Daryl is the Founder, CEO and visionary behind one of America's largest independently owned real estate firms.At the age of 21 Daryl acquired his firs...

Apr 29 2 minutes read

Did you know that we spend more than 300 hours per year in our kitchens*?

When you’re looking for a new home (or just dreaming about one), the kitchen can be the room that makes the biggest impact. If a kitchen has outdated appliances, a weird layout, or is noticeably cramped, you definitely notice it.

Whether you like throwing big dinner parties or the only appliances you use are the microwave and the toaster, it's important to feel comfortable in your kitchen. But they can be costly to redo, which is why so many homeowners put this off for the next owner.

Having a nice kitchen impacts more than your wallet.   According to NAR's annual Remodeling Impact Report for 2019, homeowners who hired a professional reported a 'Joy Score' of 9.6, while the Do It Yourselfers reported a Joy Score of 9.9.  I've included the average return on investment (ROI) of major kitchen remodels below, however can you really put a price on your joy?  I'll let you decide. 

Major Kitchen Remodel

The average kitchen remodeling costs were compared for 22 kitchen projects.  The cost of those projects were compared to the value retained at the time of selling in the United States:

Mid-range Major Remodel Cost: $72,513   |   Resale Value: $49,384

Upscale Major Remodel Cost: $143,333   |   Resale Value: $89,429

Mid-range Minor Remodel Cost: $24,950   |   Resale Value: $21,723

68.1%

Cost recouped from a mid-range major kitchen remodel

62.4%

Cost recouped from upscale major kitchen remodel

87.1%

Cost recouped from a mid-range minor kitchen remodel

For most, it's not just about the resale value. 

*Source: Hanley Wood Media, Inc. Remodeling

Want to know how much your kitchen is worth?

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