Wednesday, 4 May 2011

Cash in on Your Kitchen and Bathroom

Often our clients at PROJEKT HOME are curious to know what type of home renovations will provide the greatest return on investment and the advice is almost always the same – look no further than your kitchen and bathroom. Many of the homeowners that Paul K. Stewart has worked with have exponentially increased their home’s value through a well-planned kitchen and bath project.

Whether you are planning to list your home soon or are waiting for the recession to come to an end, these two areas of your home are the best to invest in for your future. Paul K. Stewart states “prospective buyers will look at the kitchen and bathrooms as the number one priority when choosing a home, especially in a buyer’s market”. Many real estate agents agree that a new kitchen and bathroom make the difference between selling and not selling.

Paul K. Stewart warns that people should not fall into the trap of believing that because of the recession, now is not a good time to start renovations. In fact, a survey conducted by CMHC revealed that Canadians spent $28.5 million on renovations in 2009, with the majority going toward kitchens and bathrooms. These Canadians, he notes will benefit from lower prime interest rates.

Even for homeowners who are not planning to move, kitchen and bath renovations can enhance their lifestyle. J. Walker Smith, president of the Yankelovich Partners research firm believes “homeowners today are looking at the home as a “command center,” a place to live, work, and function as a beehive of activity and engagement.” And kitchens are the hub of our command centre therefore they must be not only stylish but functional.

Remodelling your kitchen and/or bath can be a time-consuming and intimidating job, so be sure to work with a skilled professional who specializes in renovating these rooms and who can provide anything from simple advice to total project management.

Paul Kenning Stewart is a Toronto based designer with over 25 years of experience and the founder of PROJEKT HOME.  He has managed both residential and commercial design projects and specializes in  kitchens and baths. He also has extensive experience with exterior enhancements such as landscaping and curb appeal and is a member of NKBA.