Anytime we set money aside in an investment, whether it’s a long term retirement account or the family’s rainy day or vacation savings fund, we are concerned with return on investment. Maybe we’re not as worried about accumulating a great amount of interest on that vacation fund because we’re going to turn around and use it right away in the next six months, but we sure don’t want to lose money on it either. The same can be said for investing in home remodeling projects whether we’re planning on staying in our house for the long haul, or we’re doing a little updating prior to listing our home for sale.
Studies show the national average home kitchen remodel cost over $58,000 last year with about a 68% return on investment, or another way to look at it is money recouped in resale values. That was for major kitchen remodels. For the smaller update or “facelift” kitchen remodels costing under $20,000 over 72% of the cost was recouped in resale values.
According to Remodeling Magazine, here’s what you get with your average $20,000 update kitchen remodel:
So if you’ve got a tight budget and still want to freshen up the kitchen there is a way to do it without breaking the bank. Visit this site for some great new kitchen looks to inspire your Cedar Lake, Munster, or Valparaiso home remodeling project.