Kitchens are one of the features buyers compare most closely when they’re shopping for a home. Also, studies by the Appraisal Institute of Canada show that Kitchen renos are the second most profitable project, behind only painting and decorating. Here are cost estimates for some of the low-cost kitchen upgrades that will make your kitchen more enjoyable for you and more appealing to buyers:
1. Hardware.
Replacing cabinet hardware, such as handles, knobs, and hinges is a quick, DIY way to enhance kitchen space. According to HouseLogic.com, an average kitchen is 200 square feet with 30 linear feet of cabinetry, which equates to about 40 handles and knobs. Averaging between $2 and $20 per knob or pull, a home owner can expect to spend from $80 to $800 for this enhancement.
2. Faucet.
There are myriad options today in terms of height, spouts, pullout hoses, and folding necks, with quality faucets starting at around $200.
3. Lighting.
Adding an LED undercabinet light can have a dramatic effect for about $75 to $100.
4. Organization.
Buyers today choose functionality over elaborate decoration. Practical storage in the kitchen will go a long way. Over-the-door hooks, baskets in the pantry, drawer organizers, wall hooks for pots and pans, and stackable shelves for cabinets will add appeal, typically for less than $100.
5. Countertops.
Laminate can mimic the contemporary look of granite at a significant discount. The cost for an average kitchen with 30 linear feet of laminate countertop is roughly $1,500; the same space in granite would be about $3500.
Finally, check out http://urneighbourhoodrealtor.blogspot.ca/2012/03/kitchen-can-help-sell-your-home.html to see the results of a recent study showing what is most important to buyers.
Please contact me if you have any questions or would like a home market evaluation.
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