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24 October 2022

Consumer

This One Renovation Can Change Your Entire Home

If you're looking to improve your home life with a renovation, there are plenty of angles you could take. Perhaps you could increase the size of your living room and add a new fireplace. How about finishing your basement to create a new space for your children to play in?

While there are plenty of options, you need to balance what will benefit your family and provide the highest ROI should you choose to sell your home later. As a result, kitchens are among the best places to invest your money, with every dollar spent adding a dollar to the value of your home.

Also, who doesn't love a beautiful kitchen? It's your home's nucleus—a place to do homework, do science experiments, and entertain friends and family.

How you breathe new life into your kitchen largely depends on your budget. However, there is some low-hanging fruit, and small changes can go a long way.

Cosmetic changes and simple refacing

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A kitchen update doesn't have to be an overbearing, displacing affair; it can be as simple as replacing the handles on your drawers or changing the wall colour. There are also plenty of savings to be had by using your existing structure as a base. For example, you could keep the exact layout of your cabinets but replace all the doors and add a backsplash or new lighting. Pot lights start at a modest $80 installed, depending on where you live. You could upgrade your countertops while keeping the same layout and structure and highlight them with new appliances to change the whole feel of the room.

For those focused on cost and who are happy with the basic layout of their current cooking space, simply refacing your kitchen can cost between $4,000 and $9,000, saving at least 30% to 50% compared to the cost of a complete remodel.

Full-blown kitchen renovation

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If you have a much bigger budget, a more extensive kitchen remodel can give your kitchen a new look by knocking down walls, making an eat-in area, or building an island with bar stool seating. It generally involves gutting the existing structure to make way for an entirely new layout, which—if you've been struggling with space issues—can completely change the way the space makes you feel.

Understandably, the costs involved depend on the complexity of the changes. If you want to add a walk-in pantry or move a sink, you might need structural engineers, building permits, or tradespeople with unique skills. This could make the project more expensive and take longer. Consider that a more extensive renovation could make the space (or your whole house) unusable for a long time.

A kitchen renovation is far from a cheap endeavor, but the peace of mind that a freshened cooking space can bring your family is unmatched. However, if money is an issue, LendCare has your back; contact us today to find out how our manageable financing options can help you get the kitchen of your dreams.