Remodeling isn't cheap, and getting something back for the money spent is often a client concern. When planning your project, keep in mind that the cost of installing a new kitchen can be recovered when the home is sold - it's an investment in your home's equity. After 10 years, a new car may be worth very little, but a kitchen is often worth much more than the original investment.
Real estate agents and appraisers see the return value of the upscale project (80% vs. 67% for the mid-range price point) as greater. That's because upscale features are now almost a requirement in upper-tier homes. The price difference in specing granite vs. other types of materials for countertops, for example, may be $5,000, but it can make a $20,000 difference in the asking price, because of the perception about the quality of the home. |