I was reading something yesterday that got me thinking about home remodeling as an investment, instead of remodeling your home to make it more comfortable to live in. Contractors and homeowners are telling each other, how much money they're going to make off of their original kitchen remodeling investment.
If you're planning on remodeling your kitchen and getting a return on your investment, you should get some more information about kitchen remodeling costs first. How much are the cabinets going to cost and would these cabinets provide me with a better return on my investment than other cabinets.
The question here is do I want to remodel my kitchen to maximize the amount of money I'm going to get back from my home, once it's sold. Or do I want to remodel the kitchen for me and my family? These are the problems that very few homeowners ever think about.
Most of the homeowners that I run into are remodeling their home, because they want it to look and feel a certain way. They seen a kitchen at one of their neighbors homes that they liked and that's the kitchen they want in their home. They're really not worried about making a profit or getting a return on their original investment.
For those of you who are interested in maximizing your return on investment, you're going to need to do some research in your neighborhood and local community. Find out what homes are selling for that are similar to yours and if the kitchens were even remodeled.
Where the existing cabinets painted and a new countertop installed or did the homeowners just purchase new appliances. You need as much information as you can possibly get to figure out what works and what doesn't work in your neighborhood.
If you're interested in the numbers, you're going to need to do your homework. It would be extremely difficult to hammer out the exact numbers, but if you've got the time, you can make the money.