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A New Kitchen might be FREE!

People move for a lot of reasons but a primary one is because they are unhappy with their current home.


If you’re unhappy with your current home and your kitchen is at fault then I’d like to show you some “magic math."


Let’s look at selling costs. Most people experience a significant net decline in wealth when they move. Marketing your home for sale and buying a new one accounts for a 6% loss that cannot be attributed to the value of the home - in other words, your 500k New England Home is worth 500k (minus any mortgage liability) as a wealth asset. The moment you list and sell it you’ll need to give $30,000 of that to your real estate agent meaning you lost 30k in wealth on the exchange.


How about them moving costs? A web search may put your local moving cost at around $3,000 to $5,000 dollars but that does not count all the eating out during packing and unpacking, the new furniture needed where the old didn’t fit, and any painting or basic remodeling at the new place to match your desired style. For most, moving is closer to $20,000 when accounting for the details.


Grief, pain, and stress are worth something too! Chances are, moving will introduce a variety of stressors into your already too-busy life. Think address changes on all your bills, bank accounts, and insurance policies. Think potential school and utility changes. Have you worked through a new cable account recently? Will there be a future therapy bill required to restore your addled brain!


You get it. Now for the magic math.


On you’re average home, you will probably experience a $50,000 net loss to your current home wealth not counting grief and pain.


Now let’s look at your kitchen. If all you need is new cabinets, counters, and kitchen flooring to move your satisfaction meter, you can expect to pay between $23,000 and $30,000 but get a home value increase of close to the same amount.


Maybe you need a bit more. Your kitchen remodel involves opening up an adjoining wall, replacing flooring in an additional room and some extra drywall and interior decorating love. You may have jumped up to between $45,000 and $65,000 in cost but you’ll still recover 75% of that in appraisal value meaning your still saving $40,000 over a move.


In an outside case you really decide to go all out, adding an outdoor patio and grill area, throwing in some new windows and doors and adding upgrades to your cabinets - kind of like when you quoted your significant other the base price for your new Volvo before adding the heated 99 way adjustable leather seats, turbo charger, and Bose sound system! Maybe you’re now out $100,000 but you’ve still added $60,000 to your home value and are still $10,000 less than a moving.


Remodeling can also bring temporary grief and stress but the Eagle process will make sure that you don’t fall into that category. Our in-house design team and finance can also help make achieving your dream kitchen….well - a dream! So, you can basically say that a new kitchen might be FREE!


Contact us at icostello@eagleinteriorsgroup.com to get started.

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