A survey on American families found that adults spent an average of 67 minutes a day in the kitchen. It’s no surprise, after all, the kitchen is considered the heart of the home. This is also why the kitchen is often a priority when it comes to home improvements. (1)
But should you renovate or remodel the kitchen? While both options add value and improve the look of your kitchen, they vary in costs, benefits, and challenges. This article will discuss the two options in more detail and compare them so you can easily decide which is right for your home.
Comparing The Two Projects
Kitchen remodeling projects involve major changes to the kitchen space’s structure, layout, and design. During remodeling, you can change the floor plan, add or remove walls, or redesign the space with new cabinets, countertops, or appliances.
On the other hand, a kitchen renovation project focuses more on restoring or updating your kitchen without any significant transformation in the layout or design. Renovation projects include repainting cabinets, replacing countertops, updating flooring, or installing new light fixtures. They are usually less invasive and more cost-effective than remodels because the goal is to maintain the original layout and functionality.
Factors That Influence Value Addition
When deciding between remodeling and renovation, you first need to understand the following factors that influence the value of each project:
Cost of the Project
Kitchen remodeling is usually expensive. It can range between USD$25,000 and USD$ 75,000, depending on the project scope, material. Your chosen remodeling company would also differ so talking to contractors for kitchen remodel projects will help you understand the cost better based on what you want to achieve.
In contrast, renovating a kitchen is more budget-friendly, with average costs ranging below USD$20,000 for modest updates. However, if you’re going for major updates, you could spend more.
Return on Investment (ROI)
A kitchen upgrade is an excellent way to enhance your house’s ROI. Statistics show that even a minor kitchen remodeling project, such as updating appliances and installing new countertops, can yield between 70% and 80% ROI. This is because people who are buying houses always look at the kitchen and bathroom first. (2)
But that doesn’t mean you need a complete kitchen overhaul to see returns. Renovations can still yield a good ROI, as they require less upfront investment while making a noticeable impact.
That said, the higher the appeal quality, the more likely clients will be interested in your home. Therefore, you must weigh which of the two options can help you improve your kitchen’s overall appeal.
Local Real Estate Market
Real estate market conditions can also affect if you’ll be fully remodeling the kitchen or just performing some updates.
If there’s a need for luxury high-end homes in your area, you might be required to fully renovate your kitchen in order to appeal to potential buyers. You’ll have to incorporate luxury features like a luxury pantry, antique light fixtures, and marble countertops.
An easy facelift in mid-market areas, however, can adequately enhance the home’s attractiveness without over-improving the property. You just have to make sure that whatever effort you give in your kitchen make-over project is in harmony with the prevailing market tastes.
Benefits of Remodeling
A full kitchen remodel has several benefits, making it a worthwhile investment. Here are some of the reasons you should do one.
It is Tailored to Your Needs and Preferences
When purchasing a home, you will receive a fully equipped kitchen. This costs less for you but restricts your customization of it. With an entire kitchen renovation, you are able to restyle the space to fit your tastes and needs. If desired, you can design an open-concept space that will enlarge your kitchen, making it perfect for guests and enhancing the flow.
It Enhances Functionality
A good kitchen needs to be very functional, and a remodeling project can help you achieve that. When you design your kitchen afresh, you’ll make it more efficient and fun. You can create a new layout that will address common challenges such as cramped spaces, lack of storage, and poor appliance placement.
Adding an island or a peninsula can create extra workspace for meal preparation and serve as a seating area for casual dining or socializing. You can also add task lighting under cabinets, pendant lights over islands, and ambient lighting, making the kitchen brighter and more inviting.
A remodel also allows you to add modern conveniences such as smart appliances, pull-out storage solutions, or a pot-filler faucet near the stove. These upgrades also add a sense of luxury and convenience that appeals to homeowners and potential buyers.
It Increases Home Value
In a recent study, 55% of consumers said a good kitchen would convince them to buy a house they would’ve otherwise not considered. This is the kind of power a kitchen holds in turning prospects into buyers. If your home is valued for less or isn’t attracting buyers, it could be time to remodel your kitchen. (3)
A remodeled kitchen would act as the centerpiece of your home, as it helps create a strong first impression for prospective buyers. When you add high-end appliances, quartz or granite countertops, and custom cabinetry, the perceived value of your home rises. It can also align your home design with current trends and buyer preferences, like having an open-concept kitchen that can attract large families.
Energy-efficient upgrades, such as LED lighting and Energy Star-rated appliances, also resonate with eco-conscious buyers. Even if you’re not planning to sell it immediately, remodeling provides a good long-term value addition.
Benefits of Renovations
There are times when you don’t need to revamp your whole kitchen. A minor renovation can still give you the much-needed upgrade. Here are some of the benefits:
It’s Cost-Effective
One of the biggest challenges facing home improvements is the cost associated with them. But with renovations, you can upgrade your kitchen with only a fraction of the remodeling cost. Renovations typically focus on updating existing features rather than making entire structural changes, which reduces the cost while boosting aesthetics and functionality.
You can refinish or repaint cabinets for a fresh, modern look instead of replacing them. You can also change your countertops for affordable yet stylish materials like laminate or butcher block.
Upgrading appliances is another impactful yet budget-friendly renovation option. Replacing outdated appliances with energy-efficient models lowers utility bills while maintaining kitchen functionality.
It Has Faster Turnaround Time and Less Disruptions
Kitchen renovations are generally quicker and require just a few days to complete. This differs from remodeling projects, which can take months. A faster turnaround means fewer disruptions, and you can use your kitchen immediately.
Renovations are perfect for homeowners who value their time and comfort. They won’t have to live in a construction zone for a long time or create a makeshift kitchen in the house. For instance, quicker upgrades, such as replacing hardware or upgrading lighting fixtures, can be completed in one or two days, and you can return to your daily routine.
You Can Retain the Current Kitchen Design
If you’re not planning to sell your house, then there’s no need to change the kitchen layout and design. Renovations can preserve the character and charm of your kitchen while making it feel updated and fresh. This is especially important for older homes, where the kitchen’s original design contributes to the overall personality of the house. Hence, you won’t be compromising its unique style or historical value.
If your home has vintage cabinetry or a classic tile backsplash, a renovation can focus on restoring these features rather than replacing them. Updating surrounding elements, like adding modern fixtures or upgrading flooring, can create a harmonious blend of old and new. This approach ensures your kitchen retains its charm, is relevant, and functional.
Preserving the existing layout can also be an advantage in terms of practicality. There’s no need to change the layout for kitchens that already work well in terms of flow and storage. Therefore, opting for a renovation project can enhance the aesthetic appeal without disrupting what’s already functional.
In Conclusion
There’s no question that kitchen remodeling and renovation projects are both excellent ways of adding value. However, you must understand the benefits and challenges of each before deciding on what’s perfect for your kitchen. With the discussion above, you can make the best decision on the types of projects to take to upgrade the heart of your home.
References:
1. Americans spend more than 400 hours a year in the kitchen: poll: https://nypost.com/2022/08/03/americans-spend-more-than-400-hours-a-year-in-the-kitchen-poll/#:~:text=OnePoll%20and%20Bosch,400%20hours%20annually.
2. Renovations That Give You the Best ROI: https://www.angi.com/articles/how-much-does-a-kitchen-remodel-increase-home-value.htm
3. Survey: Buyers Judge a Home by Its Kitchen: https://www.nar.realtor/magazine/real-estate-news/survey-buyers-judge-a-home-by-its-kitchen#:~:text=The%20design%20of,on%20a%20home.
