Getting the Most For The Least

It's no secret that the kitchen is probably the most important room in your home.

But did you know that smaller upgrades will likely yield higher resale value as opposed to more costly ones?

The Cost Vs. Value Report 2013 (Remodelling Magazine) reveals the following national averages in the U.S. on the cost of remodelling projects with the value those projects retain at resale.

• Major Kitchen Remodel. Cost - $53,931. Price recouped - $37,139. (68.9%)

• “ Minor” Kitchen Remodel. Cost - $18,527. Price recouped - $13,977 (75.4%)

I expect the same holds true with Bahamas real estate investments.

So you may be asking why you should even upgrade your kitchen if you're going to lose out on resale.

Houses with well-done improvements tend to sell faster than homes that look shabbier. And the quicker a home sells, the more likely you are to get closer to your asking price.

Of course, not everyone has $14,000 to throw at kitchen upgrades. I've found that a lot can be done to enhance a kitchen for less – a lot less.

Here are some of the things I would recommend to those with mid-range homes:

• Make sure the room is so clean it sparkles and smells fresh. Everything should be scrubbed – floors, cabinets, counter tops, stove, microwave, fridge (inside and out), and toaster and so on.

• Replace outdated light fixtures.

• If the colours of your appliances are dated, like avocado, get competitive quotes to have them professionally refinished in a neutral tone like white or almond. A new look for a fraction of the cost.

• Paint kitchen cabinets in a neutral colour using a sponge brush for a smooth finish. Change the knobs. Consider having a professional replace the doors if paint won't cut it.

• Paint the kitchen walls in neutral colours, such as soft island pastels, and ceilings white.

• Get rid of anything you don't need in the kitchen and reorganise to show off how much space you have.

• Declutter. Remove small kitchen appliances and gadgets from the countertops and anything displayed on the fridge door.

• If your countertops are in bad shape and you can afford it, consider replacing them. If you live in a mid-range community, use mid-range material.

Your upgrades should conform to the rest of the house.

Stay within the price range for similar homes and resist the temptation to splurge on anything that really isn't necessary.

* Your leading Bahamas real estate source