3 Kitchen Renovations that Can Increase Your Home’s Wealth

Posted by Gurpreet Ghatehora on Tuesday, March 29th, 2016 at 9:37am.

When it comes to renovations and makeovers, many people don’t understand that only certain renovations can actually increase the asking price of your home. In fact, many of the projects that people commit to before even listing their home, even the expensive ones, won’t actually get the rate of return they expect. It can be a difficult surprise for many people, which is why it’s important to research what renovations and makeovers on your home will actually increase its worth. Here are three such projects in your kitchen and why they make people willing to pay a little more.

1. Water Filtration Systems

Quality drinking water is not a big problem in Edmonton, but many people still want top quality water filtration systems in their homes. The reasons are many and complicated but, thankfully, installing a high quality system is quite simple and inexpensive. They often only cost a few hundred dollars and can be hooked up to the main water supply, making your home’s entire water much safer. New parents or people looking for a home in which to start a family will especially love the added feature, and will love that the heavy lifting and construction has been done before they moved in. Unexpected and welcome, it’s something that many people will appreciate.

2. Appliance Upgrades

Upgrading your appliances is a risky venture. Sometimes it won’t pay off, sometimes it will. The trick to being in the former category over the latter is playing it smart. The key to installing new appliances comes down to what you already have. Are they old, inefficient, and a complete eyesore? Then it’s probably time to get new ones. Are they fairly recent and have most of the options people want with new appliances? Well then, swapping them out for stainless steel versions will simply not be worth the effort. In general, only consider upgrading appliances that are over ten years old or are noticeably not working properly. For everything else, be sure to clean them up so they look their best.

3. Counter Space

The modern kitchen is more than a simple place to make food. It’s a gathering place, one that can get easily filled with all sorts of countertop appliances. People like to host parties as well, which means the kitchen has become more and more a space guests see rather than a utilitarian place for food preparation and storage. Smaller homes and older homes often don’t have great kitchen counters, both in terms of material and amount, so it can pay to have that changed. Increased countertop space is important for buyers as it helps them envision living in the home, but don’t dd it if there simply isn’t the room. Likewise for new materials. If the old material looks great and does the trick, the upgrade costs won’t be worth the investment come time to sell.

Knowing which renovations to do and which to avoid is a tricky decision, especially as so many won’t give you the return on investment you are looking for. But these three kitchen projects, if done right, could add value to your home and help you sell at a higher asking price. 

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