Here’s the hard truth: nothing decreases the resale value of your home like an out-of-date kitchen. Potential buyers will immediately start calculating how much updating the kitchen will cost, and add that to their mental calculations around buying your home. On the flip side, a freshly remodeled, modern kitchen will significantly increase your home value. In short, the kitchen return on investment is huge.
So How Much Does A Kitchen Remodel Increase Home Value?
According to a 2023 survey from Remodeling Magazine, the ROI on a kitchen remodel can average anywhere from 31.7% to 85.7% depending on the size of the project. This, compounded with overall housing market appreciation means one simple thing: your kitchen remodel pays for itself.
Not to mention the value of all the joy your new kitchen will bring – priceless.
The “Wow” Factor – Where to Focus Your Kitchen Remodel
Once you’ve decided a kitchen remodel is in your future, the next thing you’ll need to decide is what aspect of the remodel you want to focus the most of your attention (and hard-earned dollars) on. The calculation for that is simple: you want to focus your remodel on the upgrades that have the highest returns. These include:
Cabinetry
Cabinetry should be one of the biggest parts of your remodel and, according to Forbes, take up roughly 29% of your budget. This is not a part of your remodel that you’re going to want to DIY, especially if you’re going for a sleek, modern look. Imprecise installation can lead to major problems down the line. At NOLI, we specialize in a modern look for your cabinetry that melds timeless design with our Cincinnati clients’ personal preference, using materials like wood veneers instead of plywood for a custom look that is lighter, more eco-friendly, and more durable.
Countertops
Move over quartz: sintered stone is here to stay. You’re also going to want to focus any kitchen remodel updating your countertops, and we at NOLI just love this sintered stone look. It gives you the same modern, sleek look as a quartz countertop, while also being more durable and heat resistant. Sintered stone also uses less silica than quartz and contains no resin, meaning it is an eco-friendly option for anyone who wants that elegant granite look.
Appliances
While you’re upgrading your cabinets and countertops, it’s also smart to consider incorporating modern appliances right into their design. In the modern Italian style, appliances are hidden in plain sight to work with the reality of your space while still serving their function. (Timeless Form + Function = Modern Italian Design.) Just check out how we hid all appliances in this Hyde Park Cincinnati residence.
Flooring
Turns out, what’s under your feet has as much to do with increasing your home value as what’s on your walls. In fact, updating your kitchen flooring during a remodel has an extremely high ROI – up to 70%-90% depending on the material and design!
In short, you want to spend the majority of your budget on the things that are meant to last the longest.
Now it’s time for the final burning question that’s probably on your mind…
How Much Should I Spend on My Kitchen Remodel?
Traditional wisdom says you should spend about 10% of your total home value on your remodel cost. At NOLI, we recommend anywhere from 5% – 20% depending on what you want to do. For example, if your intention is to flip or rent your home, we’d recommend a 5%-10% spend. If the kitchen is for your forever home, we’d recommend something more like 10%-15% or even 20% if you’re looking to incorporate the highest-end products.
Of course, your remodel’s cost will ultimately reflect its scope. A major remodel includes major cost factors smaller remodels do not, like demolition, electrical, and plumbing that will always drive up the cost. Small, mid-grade remodels costs can range between $25,000 and $60,000, whereas larger and high-end remodels typically reach or exceed $200,000, when you include all remodel services and relevant products and brands.
Regardless of what you have in mind for your modern kitchen, NOLI is here to help you create the remodel that is right for you. We work with our clients during every step of the process to create elegant, bespoke results that seamlessly blend their aesthetic with modern Italian design principles and style.
Contact us or visit our Cincinnati showroom to get your dream remodel conversation started.
