Modern Kitchen Upgrades to Boost Your Home’s Value in 2023

As a real estate agent in my 20th year working in the Portland metro, I have seen every possible style of kitchen, from those that seem to be “frozen in time” and never updated after being built or up to a certain decade to high-end remodels complete with the latest technology, and everything in between. A common saying among real estate agents is, “kitchens sell houses”, and with the way we live at home, with meals, activities and socializing revolving around the kitchen, and the reality that updated kitchens are the number one priority for prospective homebuyers, this adage rings true. Remodeling Magazine’s Cost vs. Value report for 2022 reveals that the national average return on investment (ROI) for a minor kitchen remodel with midrange materials is about 71.2%. They separate kitchen upgrades further into two more categories – midrange major kitchen remodels and upscale major kitchen remodels – with the ROI decreasing as costs increase, making it clear that budget kitchen upgrades are not only easier on your wallet, but provide the best bang for your buck. And here in the Oregon, you’re in luck because the average return on investment is higher than the national average, at 77.9%, and highest in the country compared to regions outside the Pacific (Washington, Oregon, California and Alaska).

The Kitchen Upgrades that Matter Most

Because you’re unlikely to recoup 100% of your expenses on any remodeling project, the ideal projects to take on are the kind you can enjoy for awhile before you’re ready to sell. My goal with this article is to help you focus on the key upgrades to make the most profit from the smallest possible investment to increase your home’s value. These tips will be beneficial whether you are looking to sell in the short-term or planning ahead to increase your home’s resale value.

Replace or Refinish Kitchen Countertops

One feature that instantly elevates the kitchen is updated countertops. The most popular materials are granite and quartz (with quartz being the top choice), and if you can afford to install them, they are a worthwhile and long-lasting addition to the kitchen that buyers will immediately appreciate. Concrete and stainless steel are more budget-friendly materials that are popular for a modern kitchen aesthetic. And while you’re upgrading your counters, consider installing an undermount sink if you don’t have one already. The kitchen sink is another feature buyers pay attention to in this all-important room in the home. Overmount sinks now look dated in contrast to the more visually attractive, often larger undermount sinks.

However, if installing a new sink and countertops is not in your budget, there are other enhancements you can easily do yourself to instantly transform their appearance. Simply replacing the old grout around an overmount sink can do wonders to make it appear clean and well-maintained. And if you have dated or worn counters and can’t afford to replace them, there are several options for either refinishing or resurfacing. First, if you have less-desirable tile counters, you can scrub the grout and apply a sealant to brighten the countertop’s overall appearance. And if you would like to create an entirely new surface on an existing countertop for less, you can cover it with a layer of concrete or epoxy. More options include using a countertop refinishing kit for a stone-like appearance or applying either laminate or a wood overlay to the existing countertop to achieve a more affordable butcher block look.

Choose Energy-Efficient and Environmentally Friendly Kitchen Appliances

Since the pandemic, people have been spending more time in their homes, which has led to an increasing desire for features that support wellness and sustainability. Kitchen appliances are one of the first features buyers notice, and they set the tone for the entire kitchen. When replacing appliances, opt for models with the Energy Star® label and buyers will appreciate both the monthly energy savings and lighter impact on the environment. When it comes to stoves, consider replacing a gas stove with an electric alternative. According to a 2022 Multnomah County Health Department report, gas stoves pose a health hazard – especially to children and the elderly – by emitting pollutants into the air, even while turned off. According to Energy Star®, radiant electric stovetops are much more efficient than gas at 75-80%, compared to 32% for gas. Induction cooktops are the most energy efficient at 85% but also more expensive. Many cities have already moved to ban gas hookups in new construction, including Eugene. With growing awareness of associated health concerns and the same possibility in Portland’s future, it would be wise to make the move to electric. And to make switching easier, starting in 2023 the federal Inflation Reduction Act will provide up to an $840 rebate for a new electric stove. There is no proof yet that an elective stove will produce a higher home value than a gas stove (which are still desirable by many), but with the press this topic is getting in the Portland, Oregon area, it is likely to have an effect in the near future. Keep it in mind.

Refresh Kitchen Cabinets

Cabinets occupy a fair amount of surface space in the kitchen, so naturally their appearance can make a big impact on a buyer’s overall impression. And unless cabinets are falling apart, there’s no need to replace them, making this not only one of the most transformational, but also one of the easiest and most budget-friendly fixes in your entire kitchen. Simply swap out dated knobs or handles with more modern-looking hardware for an instant upgrade. If the cabinets themselves are worn-looking, refinishing or painting cabinets is a growing trend among sellers for its affordability, and it also has less of an environmental impact than replacing them, especially when using low- or no-VOC paint. If you are doing the project yourself, prepare the surface well by cleaning and sanding for the best results. If the cabinet boxes are sound but the fronts are outdated, a final option is to reface kitchen cabinets with more modern-looking doors, which is easier and less costly than tearing out old cabinets and starting over.

Let the Market and Your Agent Be Your Guide

To stretch your remodeling dollar the farthest and for the most financial return, you want to strike a balance between keeping expenses low and choosing quality materials. A good guide for these decisions is consulting the listings of other homes in your neighborhood, plus homes at a similar price point in your area and getting a sense of how your home compares. Then you can prioritize exactly which improvements will make your home stand out from the rest. And no matter what improvements you choose to make in your kitchen, the advice we always give our clients is to clean, paint, and weed. These are the things that always take a home’s visual appeal from good to great, and in the housing market, first impressions matter.

We’d Love to Tour Your Home and Give Advice

Our top 1% sellers agents have decades of experience working in the Portland metro and we’d be happy to tour your home and consult with you on the best upgrades for your home and budget. Take advantage of our thorough knowledge of the Portland market and schedule an appointment at 503-714-1111 today! We’d love to help you sell your home faster for the best possible price.