When renovating a home, there are many different projects to choose from. Will you tackle the outdated bathroom or replace the flooring? What about updating all the light fixtures throughout the house? For homeowners, the options often feel endless. However, one room, in particular, is an extremely popular choice among homeowners deciding to put a bit of work into their home, and that’s the kitchen. In fact, recent studies from Harvard University’s Joint Center for Housing Studies found that about 25 percent of money spent on home renovations is spent on renovating and remodeling kitchens. It turns out, people nowadays want a new kitchen.
As the hub of the home, it’s no surprise that homeowners are willing to go above and beyond to bring their vision of a new kitchen to life. From updating cabinets and countertops to replacing dated appliances, there are certainly many projects that can be tackled during a kitchen renovation, and they all go a long way to adding value to a home. Though experts like HGTV recommend homeowners who have no plans of moving to remodel their kitchens based on their personal preferences, those planning on moving in a short time should opt for trending styles and neutral color pallets. In terms of appliances, stainless steel is still very popular, so much so that an estimated 72 percent of homeowners chose stainless steel appliances for their kitchen remodels in a recent survey.
In addition to appliances, cabinets are another kitchen feature that homeowners aren’t shy about spending a little extra cash on. Often times, people spend nearly 35 percent of their remodeling or reno budgets just on new cabinets alone, and for good reason. New custom cabinets can go a long way in making a room look fresh and new. They have the ability to make an otherwise dated space look and feel more modern. And with all the styles and colors available, including eurpoean kitchen cabinets, modern kitchen cabinets, and italian kitchen cabinets, homeowners can easily find the look they’ve been looking for. At the moment, one of the most popular cabinet colors is white, with about 42 percent of people likely to install white cabinets over wooden ones.
So just how much money are homeowners willing to spend on a new kitchen? Well, according to Harvard University, homeowners spend about $310 billion on kitchen repairs and remodeling projects each year. What do you think? Do you have any renovation or remodeling projects planned?
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