More and more kitchens are being remodeled and people are paying more than ever before, according to a recent study by Houzz. The online real estate company found that the average kitchen remodel has jumped by 14% in price, growing to $40,000; however, many are opting for smaller-scale projects as well. Read on to learn about the top reasons why people are choosing to renovate now and if it’s the right decision for you:
COVID-19 Pandemic – As more and more people began working from home, either in a hybrid environment or completely office-free, they began to finally start addressing the projects they’ve been putting off for years—most notably their kitchens. These kitchen projects have ranged from DIY to expert-driven contractors gutting people’s homes.
Working From Home – Closely connected to our first reason, as more people were working from home, they made the decision to remodel to have a nicer setup as stay-at-home orders caused them to cook more meals at home and spend more time with their families. Additionally, the work-from-home lifestyle has jumpstarted the popularity of different design ideas, such as discarding the open-space concepts that have been popular for several decades in favor of more confined spaces (likely to provide more privacy as families have juggled kids and careers from their homes). People have also been making the decision to focus on storage space in the kitchen, with a rise in cabinetry remodeling.
Competitive Housing Market – This aspect works for both buyers and sellers in different ways. For buyers, many are finding that their local housing market is pricing them out, so they’re looking to purchase fixer-uppers they can remodel to create their dream home. On the flip side, due to the increase in the housing market, many sellers are finding that they want to receive top dollar for their homes, and one of the prime ways they can earn more money is by investing in a kitchen remodel.
Cutting Energy Costs – Many people are discovering that their kitchen appliances and fixtures are severely out of date, costing them hundreds more per year on utility bills like water and electricity. As people spent more time at home, many found that their kitchens were making their bills soar. With an assortment of energy-efficient options ranging from sinks to ovens to lighting, many homeowners bit the bullet to lower their utility bills in the long run.
Remodeling your kitchen is an exciting time, but it can also be stressful—especially if you’re doing something yourself for the first time. Unfortunately, far too many DIY remodelers quickly find that not everything can be completed without an experienced contractor. Whether you’re looking to remodel and need a consultation, need that new sink you bought installed or need a leak fixed, a premier plumbing service in Boulder, CO is just a phone call away!