When considering your ROI (Return on Investment) for your kitchen, is a remodel or a renovation the way to go? There are varying factors. First, I want to be clear… Whether you are upgrading your vehicle, improving your home, or elevating your child’s college, if cost is a major factor, I advise you take a few things into consideration. You’ve heard the old saying, “You never want to be the most expensive house on the block.”  Why is this? The answer is quite simple. If you set the standard, (most expensive home on the block), understand, the neighbors around you get to play catch up. For every improvement neighbors add to increase their bottom line, it slows the process of your value increasing.  How does this analogy play into a remodel or renovation? 

Since the two words are often used interchangably (when they are not the same), lets decipher between the two. A renovation is (usually) a smaller project entailing inprovements such as changing cabinets, faucetts, sinks, floors; painting walls, and making improvements to the look of the home while the structure remains the same, and the original intention of the room remains the same. For a remodel, the process is more involved. Walls may be knocked out or windows cut in. A room may need new plumbing or gas lines added in another area because the cabinets are not where they were before.