‘Tis the season to be ... thinking about a kitchen remodel
At this time of the year, just like here in the Taos area, homeowners across the country open their doors for friends and family in celebration of wintertime and holiday traditions.
Not coincidentally, it is often during the holiday season that homeowners tend to pay particularly close attention to home deficiencies and think about improvements as they prepare to host their loved ones. While spending countless hours preparing their favorite holiday meals and treats, owners may often focus in on the ways their kitchen falls short, and they may begin thinking about the ways a kitchen remodel could make it more efficient, functional and welcoming.
Thirty-six percent of homeowners said that the top reason for remodeling their kitchens was to upgrade worn-out surfaces, finishes and materials, according to the National Association of Realtor’s (NAR) 2015 remodeling impact report. “Modernization of the kitchen was the second most common reason for remodeling. And, ultimately, a kitchen remodel pays off; 82 percent of homeowners said they have a greater desire to be at home since completing their kitchen remodel project,” according to the Taos County Association of Realtors (TCAR).
According to NAR’s home features survey, 53 percent of buyers undertook a home improvement or remodel project within three months of purchasing their home, and the typical buyer spent around $4,550 on those projects. Remodeling the kitchen was the most common home improvement project, as nearly half of homebuyers undertook a project in the kitchen.
Homebuyers value modern kitchen features so much that they are OK with spending more money to incorporate them into their home. Seven out of 10 homebuyers who did not purchase a home with new kitchen appliances would be willing to pay up to $1,840 more for a home with them. A modern, efficient and well-laid-out kitchen is most important for single men and married couples, as both groups placed higher importance on new kitchen appliances than other groups of buyers placed on these items.
“A kitchen remodeling project could also make your home more attractive to potential buyers when you sell your home,” TCAR says. When asked to rank the projects that appeal most to buyers, a kitchen renovation was at the top of the list of projects real estate agents feel will likely add value to the sale. “About 57 percent of Realtors also reported that they’ve recommended that their clients update their kitchens before putting their homes on the market,” said TCAR.
Contact TCAR or visit taoscountyassociationofrealtors.com to connect with a Realtor or to to learn more about buying or selling a home.
TCAR serves all of Taos County, western Colfax County and surrounding communities. For more information, call (575) 758-7411.
