Many homeowners are in the process or repairing or otherwise remodeling their homes. Whether they’re choosing to renovate their entire house at once or a few rooms at a time, bathroom and kitchen remodels continue to be common requests.
In 2015, for example, Harvard University’s Joint Center for Housing Studies expected that 25% of the money spent on remodeling would be allocated for bathrooms and kitchens. During the following year, Harvard University estimated that $310 billion would be spent by homeowners to address repairs as well as remodeling. This was an increase of 8.6% from 2015.
When homeowners are remodeling to put their house on the market, even a minor kitchen remodel can increase their home’s value and bring a substantial return on their investment. This is estimated to be an average return of 82.7%.
Some homeowners are choosing more substantial remodels, however, and are totally renovating their kitchen’s style. A modern kitchen design, complete with contemporary kitchen cabinets, is popular. So, too, are European kitchen designs with Italian kitchen cabinets.
Contemporary kitchen cabinets provide much-needed space for dishes, pots and pans, and other essential items. As a result, homeowners usually spend an average of 35% of their budgets on these practical storage features. In addition to wall-mounted cabinets, many homeowners like to have kitchen islands with additional storage space underneath.
A recent survey showed that 42% of the participants preferred white, rather than wood, cabinets in their kitchens. When it came to kitchen appliances, however, 72% of the participants chose stainless steel.
Homeowners within a variety of age brackets choose to remodel their homes. In 2014, for example, it was predicted that Millennials would be just as likely to renovate their homes as other generations. Remodels for couples planning to age-in-place are also expected to be more in-demand.
When homeowners plan to live in their homes for over 5 years, HGTV recommends that they should focus on remodeling for personal comfort. Having a modern kitchen with high-efficiency appliances and other amenities may be on this list of remodeling requests.
Whether homeowners are repairing, remodeling, or totally renovating their homes, kitchen remodels are usually at the top of their list. In addition to having new cabinets and other important kitchen features, homeowners may also choose new counters, window treatments, and lighting.