What Should You Know Before Remodeling a Kitchen?

A kitchen is the heart of any home! We all know this is true, yet somewhere while selling a home, we often tend to undervalue its importance. If you are on the verge to sell your home or are looking for ways to increase the sales for a listing, a kitchen renovation is an excellent way to pump up the selling process. It is great to attract a buyer’s attention and increase the value of a property.

Apart from being the most expensive remodeling project, kitchen renovations have been a popular trend, especially during the pandemic. The 2022 Remodeling Impact Report by the National Association of REALTORS® says that 25% of the REALTORS® had seen an increased demand for complete kitchen renovation projects during the pandemic.

However, remodeling a home should depend on the market and other factors. If you are wondering whether you need kitchen remodeling, we have the answers! Read on to learn more. 

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Before laying down a structured plan on the expenses of remodeling a kitchen, you need to identify which market you are in.

If you are in a seller’s market, where the homes are sold at lightning speed, you won’t have to spend time and money upgrading your kitchen, even with an older one. This is because since the demand for buying is more than the supply for homes, people would want to purchase them without wasting a minute. Even when the property is not remodeled or the kitchen is not renovated, people would buy it with a mindset of getting it upgraded by themselves.

However, in the buyer’s market, where the supply exceeds the demand, the sellers don’t have the upper hand. They have to work hard to sell homes. In this situation, renovating homes, especially the kitchen, is ideal. Therefore, your decisions can change a lot based on the kind of market you are in.

Various components should be taken care of while remodeling the kitchen. The prices will differ depending on what you need to remodel – from the overall plumbing and electrical expenses to kitchen cabinets and countertops. Here is an estimated range of how much kitchen remodeling can cost you:

• Minor Kitchen Remodeling Cost : You can have minor fixes here and there if you don’t feel the need to hold a big renovation. Minor kitchen updates include installing new = tiles, buying new kitchen appliances, repainting the cabinets and replacing the kitchen flooring. These may cost you anywhere between $8,000 to $15,000.

• Mid-size Kitchen Remodeling Cost: Mid-size kitchen remodeling includes installing a kitchen island, new kitchen cabinets, countertops, hardware and fancy decorative lights. It can cost you around $15,000 to $30,000, but it will be worth it in the end, considering the increased home value post-mid-size remodeling.

• Major Kitchen Remodeling Cost: Installing new countertops, kitchen cabinets and faucets, and removing existing walls is a part of the major kitchen renovation. Other tasks include installing new floorings, kitchen island and kitchen appliances, and adding fancy lighting. If you use high-end materials and kitchen components, major kitchen remodeling can cost anywhere from $30,000 to $70,000 and sometimes even reach $100,000.

Your remodeling budget will rise as you go higher in quality and quantity. Sometimes, it can even cost you a fortune to renovate the kitchen physically. Here’s an inexpensive and easy alternative to the traditional remodeling process to avoid going overboard with the budget.

• Virtual Kitchen Remodeling: Kitchen remodeling has been one of the most popular choices when selling homes. In fact, over the past few years, the demand for remodeling kitchens has been rapidly increasing since homeowners started realizing the importance of a well-designed kitchen. Remodeling a home, especially for a resale, brings in the best return on your investment. However, physically remodeling a kitchen is costly, especially if it is a major project. Here is when virtual renovation comes in handy.
  
  The remodeling process of your listing’s bathroom and kitchen can become smoother and more risk-free when you choose to do it virtually. There are several designs and styles you get to play with, giving you more time to think which one will suit best without making any commitments. You get to explore many kitchen staging ideas to make your listing look the best for attracting buyers and sell it at top dollars! Moreover, it is budget-friendly compared to traditional home renovations. Instead of investing in expensive materials and equipment, getting a virtual staging service proves to be cheaper since you do not have to physically buy materials.
  
  At Styldod, we help your buyers visualize their dream homes through our top-notch virtual renovation services. Now replacing floors or painting walls is easier than ever! Starting with only $5, get the most photo-realistic and affordable virtual renovation images with a 24 to 48 hours turnaround time! Align your vision with the result you want and think like the designer of the home to see what works best for the space.

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Home value usually refers to the value that a homeowner recovers after spending money on remodeling and other major renovations. It is believed that remodeling the kitchen has led to an increase in the overall value of the property. Even the figures are in favor of this theory.

According to the 2022 Remodeling Impact Report by the National Association of REALTORS®, among the customers who renovated their kitchen, 67% of them were found to have recovered the value from a remodeling project. The increase in home value depends majorly on the amount you spend on the remodeling project. The figures mentioned in Remodeling Magazine’s 2020 Cost vs Value Report showed how different kitchen renovations showed a change in the home value:‍

• ‍Midrange Minor Kitchen Remodel: 77.6%
• Midrange Major Kitchen Remodel: 58.6%
• Upscale Major Kitchen Remodel: 53.9%

While it is natural to think that the more you invest, the more ROI you will receive, it doesn’t seem true in every scenario. As mentioned above, the upscale major kitchen remodeling gave a return of 53.9%, while a midrange minor kitchen remodeling project gave 77.6% of ROI. Considering that lesser spending is giving you desired results, it only makes sense that the ROI increases.

Attractive images will be the first thing to entice a buyer to check your listing. There is no use in having a perfect home if the listing pictures fall dull and fail to attract home buyers. Virtual renovation can add that visual appeal with a strong potential to make a buyer’s head turn.

Try Styldod’s Virtual Kitchen Renovation Service, starting with just $5 per image! Our team of experts will help you create amazing listing photos for the kitchen. Visit www.styldod.com for more information!