Many homeowners wonder and often times will ask, "When is the best time to remodel a kitchen or bathroom?" Bottom line, the best time to remodel is right now!
The Strong Resale Market / Low Interest Rates
With the recovery in housing and in particular the resale market along the Front Range, along with low interest rates, now is a great time to remodel. You will experience an immediate bump in your home value and enjoy the benefits of a new kitchen or bathroom in the meantime.
If you are considering a large amount of work to be done, it is best to bundle it together to get the attention of contractors. They are very busy and prefer larger projects to smaller ones. One large job will be less expensive then 2 smaller ones.
80% - 125% Return on your Kitchen and Bath Remodeling
With these kinds of “probable returns on the money you spend,” Money magazine ranked kitchens and baths as the “most cost-effective renovations” to undertake. Guidelines suggest you invest no more than 15% of the home’s value on a major kitchen remodel. If you sell the house in 2 or 3 years, you will recoup most, if not all, of your money. Assuming you are financing the remodel, you are only paying for the remodel for the time you are living there.
Updated Kitchens and Baths Help Sell Houses
Realtors have known this for years. That’s why a remodeled kitchen or bathroom is frequently highlighted as a major feature in a real estate ad. Remodeling these rooms gives you increased satisfaction and positions the house for a faster resell at an optimal price.
Immediate Improvement in your Quality of Life
Regardless of the economic advantage for remodeling now, the most important reason is knowing the entire family will enjoy an improved quality of life right away, all while staying in the home and neighborhood where they are comfortable. This can’t be measured in dollars and cents, just in the wonderful memories of family gatherings and lively parties with friends in your new kitchen.