Needless to say, that the heart and the epicenter of your home, the place of a magnetic attraction to all your family members is your Kitchen. Modern kitchens are not just the place where we cook and store the food, but a cozy area where we get together with our friends and family, do homework and arts and crafts with our children, it is the center of family fun and children’s art museum, computer, and discussion room. Therefore, it is no wonder that according to recent researches, it is top home improvement for the last decade in Toronto. On average, your kitchen renovation cost 15% of the value of your home of which 30% we spent on cabinets; 35% – on construction costs; 14% – on new appliances and appliance installation; and only 5% – on lighting and plumbing fixtures; 2- 3% – on paint; 1- 2% – on tiles, windows, flooring and labour.
If you are planning an impactful home improvement soon, take an in-depth look at the benefits of your kitchen renovation.
- Return on Investment
Your kitchen is the most integral and valuable areas of any property. Even a minor kitchen renovation adds a significant amount to home’s price upon resale. On average, you can recoup upwards of 74% of your initial investment in materials, appliances, and labor. According to a recent real estate research, spending 6-10% of your home’s current value on the kitchen project will get a desirable return. 90% of today’s real estate professionals report, “properties with redesigned, remodeled kitchens are easier to sell. They also usually sell for much higher asking price.”More than 41% of homebuyers consider the kitchen is the most important staging element of the search phase, which can make or break a potential sale.
- Energy Efficiency
Based on a recent survey, replacing of outdated appliances decreases your annual utility bills by more than $1,500, especially if your appliances are over ten years old. Installation of the following eco-friendly kitchen appliances can significantly increase your home’s functionality:
- Custom-create lighting solutions
- High-tech dishwashers
- Coffee machines, toasters and microwaves
- Humidity- and temperature-controlled wine chillers
- Different extractors to fit your unique arrangement
Even if you are not planning to sell your home soon, kitchen renovations can solve array of problems:
– lack of the functionality;
– new inviting and inspiring atmosphere;
– special needs for disabled family members.