Page 16 - Inspirations

KITCHEN REMODEL RETURN ON
INVESTMENT
Have you been in your home for many years?
Or maybe you purchased a home that needs a bit of tender loving care.
Whether it’s a complete gut and remodel that involves removing walls, relocating plumbing, and significantly changing
the existing footprint, or a facelift, refresh or upgrade—removing everything and replacing it—a kitchen remodel can increase your sense of enjoyment and well-being at home.
WHEN EVALUATING THIS RETURN ON INVESTMENT WE BELIEVE THERE ARE TWO KEY ASPECTS TO REVIEW
THE JOY SCORE
The National Association of Realtors® (NAR) Research Group produces an annual report that utilizes a Joy score for each project based on homeowner happiness. The Joy score for a Kitchen Upgrade is a 9.8 out of 10. That score tells us that a kitchen upgrade is worth it and produces a great deal of joy!
THE RECOVERY COSTS
The second way to evaluate a return on investment is to understand how much you would recover if you sold your house. Here in central Ohio, homeowners can expect to recoup between 55-73% of their kitchen remodeling costs when they sell their home, according to the 2022 Cost vs. Value Report (www.costvsvalue.com)
Whether you are doing a large-scale kitchen remodel involving moving walls or updating with a fresh new look, your return on investment will most certainly result in better functionality and livability for your family and help you sell your home.
The complete 2022 Remodeling Impact Report can be found at www.nar.realtor. ©2022 Zonda Media, a Delaware corporation. Complete data from the 2022 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.