Have you been in your home for many years? Or maybe you just purchased a home that needs a bit of tender loving care. One of the projects we get the most calls for is kitchens! Whether it’s a complete gut and remodel that involves removing walls, relocating plumbing, and significantly changing the existing footprint, or a facelift, refresh or upgrade—removing everything and replacing it, a kitchen remodel can increase your health and well-being.
Our Remodel-Design-Build Team at The Cleary Company will collaborate with you to create a project scope that fits your needs and goals for your new kitchen. Let us help your space go from drab to dreamy!
We’ve been sharing information from the 2022 Remodeling Impact Report from The National Association of Realtors® (NAR) Research Group and the National Association of the Remodeling Industry (NARI). According to this study, Americans spent $420 billion in 2020 on remodeling their homes. That’s a lot of remodeling!
Let’s take a look at what the report tells us about a Kitchen Upgrade Remodel.
What does the report tell us about completing a Kitchen Upgrade Remodel? NAR utilizes a Joy score for each project based on happiness. The Joy score for a Kitchen Upgrade is a 9.8 out of 10. That score tells us that a kitchen upgrade is worth it and produces a great deal of joy! 83% of consumers would have undertaken the project, regardless of the pandemic.
Remodeling a kitchen by completing a remove and replace upgrade has a cost recovery value of 67%. “REALTORS® provided an estimate of the likely dollar value each project would add to the house at resale. In comparing that dollar value to the estimated cost of each project provided by NARI members, a Recovered Project Cost percentage was calculated.”
It’s important to realize that NARI Remodelers placed the cost estimate of a kitchen upgrade remodel at $45,000 (nationwide) and the estimated cost recovery is $30,000.
To learn more, read the full report here.
Function, Beauty, and Livable / #ImprovingYourHomeLife
A kitchen will change the way you live in your home. Creating more memories while spending quality time with family and friends. Whatever your vision is for your kitchen, we can make it a reality.
Need inspiration? Check out our Kitchens Portfolio. Is a kitchen upgrade or remodel in your future? Contact us to get started!