Turn Up the Heat in Your Kitchen: Remodel with Big Savings and High Returns
With decreasing home values and economy troubles, home renovation may be the last thing on your mind. However, the kitchen is one of the most valuable rooms in your home and renovating it is an efficient way to increase your home's value. The return on investment (ROI) of a kitchen remodel can be up to 95 percent on resale. Typical kitchen remodels cost, on average, around $45,000, but you don't have to break the bank in order to remodel your kitchen.
Kitchen Remodeling on a Budget
How do you remodel your kitchen in order to get the best ROI? Here are some do-it-yourself ideas to help you transform the hub of your home while you save money.
- Reface instead of replace your cabinets: Cabinet refacing is a great way to yield a high ROI. Reface your cabinets by affixing laminate or wood veneers onto existing cabinet surfaces. The cost--about a third of the expense of installing new cabinets.
- Paint or refinish your cabinets: With an average cost range of $2500 to $5000, painting or refinishing your existing cabinets is an attractive and inexpensive option.
- Change your countertops: Depending on the material, you can install your own countertops for a lot less than you would need to hire a contractor. The best DIY materials include tile, laminate, concrete, and butcher-block.
- Add new flooring: A new floor definitely contributes to a higher resale value on your home. If you're doing it yourself, opt for vinyl tile, sheet vinyl, ceramic tile, wood, or Pergo.
- Use paint or wallpaper: Transform the kitchen with refreshed walls, which is one of the easiest and most effective DIY tasks.
- Spruce up the walls with a backsplash: Add character to the kitchen walls with a tile backsplash.
The best way to save money on your kitchen remodel is to do the job yourself--but make sure you choose the right materials. If you save money on labor, you save on the overall kitchen remodeling costs. You may see an ROI over 100 percent.
HubPages, How to Save Money on a Kitchen Remodel, by C.M. Vanderlinden
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