Modern Kitchen Upgrades to Boost Your Home’s Value
Updated 07/2024.
As a real estate agent with over 20 years working in the Portland metro area, I have seen every possible style of kitchen: from those that seem “frozen in time” 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 I find this to be true. All the meals, activities, and socializing in and around the kitchen make updated kitchens the number one priority for prospective homebuyers. The updates are also highly profitable for sellers, making them a win-win.
Remodeling Magazine’s Cost vs. Value report reveals that the national average return on investment (ROI) for a minor kitchen remodel with midrange materials is about 71.2%. They also separate kitchen upgrades into two more categories – midrange major kitchen remodels and upscale major kitchen remodels – with the ROI decreasing as costs increase. This means that budget kitchen upgrades are easier on your wallet and give you the best bang for your buck!
You benefit even more here in Oregon. The average return on investment is higher than the national average, at 77.9%, and the highest among other regions along the Pacific (Washington, Oregon, California, and Alaska).
Kitchen Upgrades That Matter Most
You are unlikely to recoup 100% of your expenses on any remodeling project, so you are better off doing upgrades you can enjoy for a while before selling. My goal with this article is to focus on key upgrades that bring the most profit for the smallest possible investment while also increasing your home’s value. The following tips are beneficial whether you plan to sell in the short term or are planning ahead to increase your home’s resale value.
Replace or Refinish Kitchen Countertops
One way to instantly elevate your kitchen is with updated countertops. The materials buyers value most are the most popular: granite and quartz (with granite being the top choice).
Refreshing Your Existing Countertops
If you can’t afford to replace counters, there are several options for refinishing or resurfacing them:
● Scrub the grout and apply a sealant to brighten the countertop’s overall appearance.
● Cover your countertop with a layer of concrete or epoxy to create an entirely new surface.
● Use a countertop refinishing kit for a stone-like appearance.
● Apply either laminate or a wood overlay to the existing countertop to achieve a more affordable butcher block look.
● If you have tile counters, replacing old grout around an overmount sink will make the kitchen appear clean and well-maintained.
Upgrade Your Sink
If you plan to upgrade your counters and don’t have an under-mount sink, this is a good time to consider one. Sinks are another feature buyers value, and overmount sinks now look dated in contrast to the more visually attractive, often larger under-mount sinks.
Choose Energy-Efficient and Environmentally Friendly Kitchen Appliances
Since the pandemic, people have been spending more time in their homes, leading to an increased 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.
Stainless steel has been a favorite for years in terms of look, but recently we have seen more color options. Regardless of which look you choose, opt for appliances with the Energy Star® label. Buyers will appreciate the monthly energy savings and lighter impact on the environment.
Regarding stoves, consider replacing a gas stove with an electric alternative. According to a 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, including Eugene, have already moved to ban gas hookups in new construction. With growing awareness of associated health concerns and the same possibility in Portland’s future, it would be wise to move to electric. To make switching easier, the federal Inflation Reduction Act provides 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 is still desirable by many), but with all the press this topic is getting in the Portland area, it is likely to have an effect in the near future, so it’s a good idea to keep it in mind.
Refresh the Kitchen Cabinets
Cabinets often take up the most space physically and visually, so they naturally make the biggest impact on a buyer’s overall impression. But unless cabinets are falling apart, there’s no need to replace them, making them one of the easiest and most transformational budget-friendly upgrades in your kitchen.
If the cabinets are worn-looking, refinishing or painting is an affordable option and a growing trend. More homeowners are repainting or re-staining kitchen cabinetry for a fresher look without having to endure the cost of new cabinetry. Many are even using bold colors or contrasts to make them really stand out. It used to be that kitchens were softer in look, but now it’s about celebrating this area of the home by attracting eyes, and you can choose how much work you want to do. You can repaint all your cabinetry or limit your work to the kitchen island.
Repainting also has environmental benefits. Painting has less environmental impact than replacing cabinetry, especially when using low—or no-VOC paint. This means that a repainted kitchen not only looks more appealing but also carries a positive story. And as color trends change, the cabinetry can be repainted to keep up with what buyers want.
When doing the work yourself, prepare the surface well by cleaning and sanding for the best results. If the cabinet boxes are sound but the fronts are outdated, refacing cabinets with new doors is easier and less costly than tearing out old cabinets and starting over.
Invest in New Handles and Fixtures
One of the easiest and fastest ways to update your kitchen is to swap outdated knobs or handles. Recently, I’ve been seeing more gold and black finishes as well as some creative brass options, but some standards still work, such as chrome or nickel. And there is a wealth of design options on the market. So go ahead and swap out the old with something new and fresh. You’ll be surprised by the difference new hardware and fixtures make.
Upgrade the Look of Your Oven Hood
If you have a unique or traditional kitchen hood, you are in luck. In recent years, oven hoods have been designed or reworked to stand out and attract more attention. They are being treated like works of art instead of bland, utilitarian kitchen additions.
You can take advantage of this trend to make your kitchen appear more up-to-date, and it doesn’t require much money or time. Color and trim go a long way.
Change Up Your Backsplash
Having a kitchen that appears modern and up-to-date sometimes means changing dated designs to new, more creative options. If your backsplash is relatively small, you can replace it relatively affordably, but you can also change things up affordably regardless of how much backsplash you have. You can repaint the tile to a more attractive, modern color or use stick-on tiles that, at the very least, reduce the eye soar of your existing tile.
Let the Market and Your Agent Be Your Guide
If you want to stretch your remodeling dollar further while enjoying the most financial return, strike a balance between low expenses and quality materials. Here are two ways to do it:
Consult other home listings in your neighborhood: See how other kitchens in homes of similar price points compare to yours. You can prioritize which changes to make so that your home stands out from the rest.
Consult your agent: Your real estate agent is always trying to obtain top dollar for your sale, so he or she will know how to prioritize upgrades in homes, including in kitchens. I have over 20 years of experience and, like I mentioned before, there is little I haven’t seen, good and bad. I know what buyers value and what brings them the most joy, which translates directly into faster sales.
Even if a kitchen upgrade isn’t in the cards for you, the advice I always give our clients is to clean, paint, and weed. These steps always take a home’s visual appeal from good to great. In the housing market, first impressions matter! But like I said earlier, you stand to profit from any work you do in your kitchen, so it is worth serious consideration.
We’d Love to Tour Your Home and Give You More Advice
Our top 1% sellers agents have decades of experience working in the Portland metro area. We charge less than the local average, but provide more marketing and services. 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 fast and for the best possible price.
