When you hire a kitchen remodeling contractor, one of the most important things you can do is communicate your goals with them. Hopefully they will give you good direction based upon the reasons for your remodel.
Important Considerations When Remodeling your Kitchen
A kitchen remodel can be the single most important home improvement project you can do, especially when trying to increase the value of your home. There are some things you will want to consider depending on your goals and lifestyle. If your goal is purely financial then you will want to consider things that will increase the value of your home and make it more appealing to potential buyers. If you are remodeling to suite your life style then there might be other things to consider.
Considerations to Increase Value
As a rule of thumb you do not want to spend more than 10% of the current value of the home on your remodel in order to get a return on your investment. So here are a few things that will increase value and appeal to perspective buyers.
- Add floor and countertop space
- Use granite or quartz as countertop material
- Keep cabinets simple
- Add drawers when possible
- Go with duel under-mount sinks
Appliances are another important consideration for re-sale value. In some neighborhoods it is important to go with brand name, high end appliances. This is a great question for your real estate agent because it is not important in all areas but will make a big difference in high end areas.
Considerations for Lifestyle
If your kitchen remodel is all about you and your families lifestyle and habits then your kitchen remodel goals could be different. For example, someone who does a lot of cooking may wan to install a double oven. A family with kids might find it convenient to have a nice island where it is easy to serve breakfast, lunch, and dinner. Larger families may want to take advantage of separate refrigerator and freezer units.
How to Finance a Kitchen Remodel
The kitchen remodel project can be expensive but there are ways to finance it. You can take advantage of low interest rates and refinance your home. Depending on the amount of equity you may be able to pull out enough cash to fully refinance your home.
FHA 203K Renovation Loan
These loans are designed to help home owners renovate and improve their existing home. You can use a 203k loan for the following:
- kitchen remodels
- bathroom remodels
- home additions
TO get qualified for an FHA 203k loan click here.