Kitchen remodeling is one of the best ways to brighten up your entire home. Even a minor kitchen renovation will give you an average return on investment of more than 83% when you sell your home. In fact, The National Association of Home Builders says that kitchen renovations account for 69% of all of requested home renovation projects, second only to bathroom renovations.
Although kitchen remodeling is an easy way to make your home look great, it can be a real nightmare if you aren’t careful. A few common kitchen remodeling mistakes that homeowners to make include:
MISTAKE: Making bargain hunting your biggest priority If you need to cut costs, buy generic brand cereal, cut coupons, and ride your bike to work. The updates that you do to your kitchen will stay with you through the long-run, or until you redo the work because you regret cutting corners the first time. Spending the money to have the job done right, and investing in good quality material is worth every penny that you spend while kitchen remodeling.
MISTAKE: Going overboard While a good kitchen design can add a lot of value to your home, the law of diminishing returns tells us there is a limit to the value you add in any home renovation. For example, if your home is worth $200,000, and you spend $50,000 on a kitchen that a Michelin star chef would be envious of, you’re going to have trouble getting someone to buy your home for $250,000 to get the money back out of it. (Although, if you are a foodie and would really enjoy a fancy kitchen, don’t let us stop you!) As a rule of thumb, try to keep your costs below 15% of your home’s total value if your goal is to recoup your costs when you sell.
MISTAKE: Getting too trendy In the 90’s, kitchens were decorated with floral prints and fake foliage. Now the image makes you gag. You might absolutely love a stylish look, but if you incorporate a trend into the permanent design of your kitchen, you will regret it when it goes out of style. The more prominent the design is, the more obvious it will be when it is out of date. Choosing timeless fixtures and design elements will help you maintain the value of your kitchen remodel and will make it more marketable when you decide to sell. If there is a trend you can’t live without, consider decorating with it, so that it can be changed out when the fad is over.
MISTAKE: Not paying attention to your budget Surveys show that a quarter of all homeowners anticipate spending less than $10,000 on their kitchen renovation, but only 15% of renovations actually meet that budget. Before you get started, sketch out an outline of expenses involved in your renovation. That way, you don’t get halfway through and run out of money. Make sure to leave about a 15% contingency for any unpredictable problems that may arise.
MISTAKE: Starting the work before you have a complete plan One very common mistake homeowners make when renovating their kitchen is starting work on the cabinets and counter tops before the appliances are chosen. The space needed for the stove or refrigerator should be precise, so it’s a good idea to choose the appliances that you’re going to have in your new kitchen, and then make sure the rest of the plans accommodate them. Likewise, make sure that every aspect of the kitchen is measured twice or thrice, so that you don’t end up with a shiny new stove that is one inch wider then the cabinets allow for.
MISTAKE: Not Leaving any wiggle room for Murphy’s Law There are hundreds of elements involved in a kitchen renovation. Even the best contractors can’t prevent all hiccups, there are so many factors that are outside of their control. Let yourself be flexible in your plans and your timelines, so that when an issue arises, you can take it in stride and keep going.
Do you have any questions about doing a kitchen renovation? Please feel free to get in touch with us if we can be of any assistance.