Kitchen renovations in Edmonton are one of the most popular home improvement projects. Additionally, they have the highest return on investment (ROI). Renovating your kitchen will improve aesthetics, function and lifestyle and boost your home’s resale value.
According to recent cost vs. value data, a minor kitchen renovation can recover 85.7% of its initial cost at resale. That means kitchen renovations have the highest ROI compared to other interior home renovations. Furthermore, that number has jumped from a 71.2% ROI to 85.7% in just one year!
Let’s crunch some numbers. With those percentages, it means that you can recover roughly $25,700 on a $30,000 kitchen renovation. That is a significant return.
Why do kitchen renovations have a high ROI?
Kitchens are the heart of the home
Kitchens are important to people. They are functional for cooking and serving meals and social hubs for families and guests. An attractive and well-designed kitchen can improve the function and lifestyle of a home.
Additionally, kitchens have an emotional appeal. When designing your new kitchen, you’re likely picturing yourself cooking, entertaining, and spending time with loved ones in a beautiful new kitchen. That is why kitchens are considered the “heart of the home.”
Great kitchens increase home value
Because kitchens are so valuable to people, a modernized and attractive kitchen can increase a home’s actual and perceived value. Buyers are attracted to upgraded kitchens with modern appliances, quality finishings, and a functional layout. And when you add that emotional connection to a beautiful new kitchen, it translates to a willingness to pay more for the kitchen and home they’ve connected to.
On the other hand, an outdated or poorly designed kitchen can negatively impact your home’s value and marketability. Investing in kitchen renovations in Edmonton ensures that your home meets your expectations now and buyer expectations in the future.
Energy efficiency
More people are concerned about the energy efficiency of their homes. Unfortunately, the kitchen is a significant consumer of energy – especially if it is outdated. A green-minded kitchen renovation can include highly efficient appliances, lighting, and plumbing fixtures. These are functional improvements that can reduce energy use, save on monthly utility bills, and increase appeal to environmentally conscious buyers down the road.
Kitchen Renovations in Edmonton
Peak Improvements is a full-service renovation company in Edmonton that offers interior design, project management, and construction services. They’ll work with you to help you design your dream kitchen, ensuring every aspect of it will add value to your lifestyle and property.
Start planning your kitchen renovation with Peak Improvements!
