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  • Writer's pictureL and L Kitchen Designs

Kitchen Remodel ROI (Feb 2024)

Kitchen remodels may be expensive, but will they add more value to your home long-term?


If you're like many people looking to renovate we're going to let you know how much you should expect to get back in your pockets.


In this article we'll inform you on just how much money you can expect back in your pocket after investing in a kitchen remodel.


Contents



Kitchen Remodel Trends


Most Frequently Upgraded Features of A Kitchen


  1. Countertops

  2. Backsplash

  3. Sinks

  4. Faucets

  5. Light Fixtures



Kitchen Remodel ROI


Based on the latest available data. In 2024, you can anticipate a return on investment of around 72%.


That indicates a 2% increase from 2018, suggesting a growing appreciation for kitchens every year.


To put this into perspective: If you spend $21,000 on your kitchen remodel, you'll get back about $15,200. Just for fun, if you consider this over a 5-year period, you'd end up with an additional $3,040 in your pocket.


This raises the question. What's holding you back from starting that remodel you've been delaying? Is it the expense? Considering the return on investment we've discussed, cost shouldn't be a deterrent for this upgrade!




Sources: Angi, Houzz, Zillow



What Cabinets Should I Be Considering?


When considering upgrading your kitchen your first thought may be "What cabinets should I start with?" While you have many choices, the most popular in 2024 would be as follows.


Cabinet Styles We Recommend


  • Frameless

  • Shaker Style

  • Skinny Shaker

  • Euro Style

  • Traditional Raised door Style


Click Here to View images of the cabinet styles.


What Colors Should I Select?


In 2024, the choice of colors is entirely yours to make. But there are some colors you should stay away from when remodeling your kitchen.


Cabinet Colors To Avoid In 2024


  • Grey - Grey when paired with the correct decor and design can be stunning but it hasn't been as in when compared to the last few years!

  • Light Pink - Yes we understand Barbie is still very popular but even we recommend to not make this design choice when remodeling.

  • Bright Colors - In 2024 people are keeping it natural and earthy, but some people can pull it off.


Why People Are Remodeling?


There are so many reasons people are deciding to renovate their kitchen in 2024. Besides the obvious reasons, such as a large ROI that house flippers are taking advantage of, there are a lot more practical reasons that may go under the radar.


Top Reasons Why People Are Remodeling


  1. People can't stand their current kitchen

  2. Ageing kitchen

  3. Finally having the means

  4. Improving resale value

  5. Personalizing a recently bought home


Source: Houzz



Conclusion

Should you consider renovating your kitchen? Unfortunately, we can't make that decision for you. Fortunately enough, I think we did provide you with enough information to make a decision for yourself.


If you need any help on decision making just shoot us an email, or send a message via our Instagram, or Facebook pages!


Or schedule a In person or Online Consultation here.


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