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Real Estate Remodeling in NJ
What's even more uncertain than embarking on a home renovation project? It's not the installation of solar panels, adding a new shed, or even materializing that long-desired swimming pool. The greater uncertainty lies in the processes of purchasing a new house or selling your existing one!
You might find yourself in a scenario where you decide to sell your current house and transition into a new abode. Everything could seem perfect, except for the kitchen area. This leads to the necessity of a renovation project focused on the kitchen. However, the predicament arises: after already investing significantly in your house, now there's the additional expense of remodeling?
The endeavor of remodeling is exactly as it sounds – financially demanding. In the year 2021, a substantial kitchen renovation in New Jersey averaged around $80,000! This kind of project typically translated to an estimated resale value of about $50,000, indicating a recoupment of approximately 60% of the initial investment.
On the flip side, a more modest kitchen remodel, like cabinet refacing, carried a price tag of roughly $30,000 and had a resale value of approximately $22,000. This equated to a resale value of roughly 75%, showcasing a comparatively higher return on investment!
Refacing Advantages to Real Estate Sellers
As you can see, refacing is super valuable. Not only does it cost less than half the price on average, it provides a greater return on investment.
If you’re planning on selling your piece of real estate in a relatively short time frame, such as 3-5 years, then refacing is absolutely more valuable by the numbers. You can also paint the cabinets for a quick boost in value if you plan to sell sooner.
Refacing Advantages to Real Estate Buyers
Refacing can be your ticket to owning a piece of real estate. There are plenty of homes out there where everything is perfectly great!
That is, until you see the kitchen.
And the biggest eyesore is usually the cabinets. But don’t stress about dropping a salary on remodeling, just reface them and update them quicker, cheaper, and for more value!
Refacing Advantages to Real Estate Agents
Suggesting cabinet refacing as an option instead of a whole kitchen remodel may be the extra boon you need as a real estate agent to sell (or buy) some properties.
Knowing the costs and cost-effectiveness of refacing may help your client make their way into a home sooner and make everyone win sooner.
Maybe you can even contact a contractor, like us, for a free estimate and provide that information to a client about the benefits and cost of a refacing project when they’re looking to buy or sell.
Either way, everyone wins on refacing real estate.