How do I get the best ROI on my kitchen remodeling project?

To get the most value from your kitchen remodeling, make these your goals: to create additional space or the illusion of space, repair or replace damaged features, and make the kitchen an easier or more pleasant space to work in. There are many ways to approach these goals

 

Depending on how much you are willing to spend, your kitchen remodel can be upscale, midscale, or minor. Upscale projects can cost as much as $126,000 and often involve an overhaul of the entire kitchen. For such projects, the average ROI is 54%.

 

Midscale kitchen renovations cost as much as $75,000 and fetch a return of around 69%. If you are planning a minor upgrade expect to spend between $11,000 and $21,000, to recoup 81% of your costs. These figures partly depend on the specific changes you make to the kitchen and the location.

 

Here are the highest-performing kitchen projects to consider:

 

• Repainting the kitchen in modern colors
• Increasing storage space
• Changing the floor plan to merge kitchen and dining
• Installing new appliances
• Replacing the kitchen floor
• Replacing or refurbishing the cabinets
• Better lighting, including under cabinet lighting
• Replacing all hardware in the kitchen (plumbing and cabinet)
• Upgrading to natural stone or steel countertop