Kitchen Remodeling-How Can You Maximize the Return on your Investment

by Kirk Bangstad
Face Your Kitchen Columnist

Kitchen remodeling in some parts of the country will raise resale values more than those same projects will in another part of the country. If you're in LA, you should consider yourself lucky. When was the last time you heard that you were lucky to be living in L.A.? Yeah, you may have to spend half your life in traffic, but your kitchen remodeling project should pay for itself as it raises the value of your home. According to Remodeling magazine, the return on investment for a major kitchen remodeling project in L.A. is on average 105%. The ROI for the same remodeling project in Philadelphia is only 62%.

Maximize your Profits by Refacing your Kitchen Cabinets

If you don't live in L.A., but still want to make a profit on your kitchen remodeling project, you should consider refacing your old kitchen cabinets instead of installing new ones. Kitchen cabinet refacing generally costs about a third of the cost of new kitchen cabinets. Kitchen cabinet refacing involves adding a wooden or laminate veneer onto your kitchen cabinets and then installing new hardware. In essense, by cabinet refacing, you're keeping your old kitchen cabinets but making the surfaces look like new. The finished product can look just as impressive as an entirely new set of kitchen cabinets.

So yes, living in L.A. does have its benefits, but you don't have to live there to earn your money back on a kitchen remodeling project. With kitchen cabinet refacing, you can increase your potential profit margins without sacrificing a quality end result.

Source

• CBS News

About the Author
Kirk Bangstad is an artist manager and singer working in Chicago, IL. His previous experience includes consulting for technology companies in the Silicon Valley and serving as a field director and publicist for a statewide political campaign. Kirk holds a B.A. in government from Harvard University.