With the warmer months upon us, it is a great time to complete some remodeling projects. By working on your kitchen today, you can add value to your home, save money in the long run and enjoy a nice space in which to cook and eat.
U.S. News and World Report noted that a minor kitchen remodel can add 82.7 percent of the project's cost back into the home's value. A big reason for this is that many prospective home buyers may overestimate the cost of remodeling a dated kitchen. So if your kitchen looks and performs like new, then you may be able to add significant value to your home.
However, like any home improvement investment, it is important to make sure that you are putting your money into investments that will show you the greatest returns. If you are operating on a budget, it is even more important to make sure that you're targeting the right improvements to enhance the value of your home.
Tankless water heaters
The green and sustainability movements have been taking the world by storm, and there is no reason they can't apply to your kitchen renovation. You may have already thought to invest in an energy efficient dishwasher or refrigerator, but have you considered your water heater?
Hot water tanks can be quite wasteful and depending on how long you've owned one, eating away into potential energy savings. This is because they constantly use energy to keep water warm. On top of this, because they are often installed in the basement or a utility closet, it takes time for the hot water to reach your kitchen sink, meaning they could be wasting water during this waiting period.
Electric tankless water heaters avoid this problem, because they are 90 percent smaller than hot water tanks, meaning they can be installed at the point of use, rather than in the utility closet. This means that they can heat the hot water on demand, so the hot water reaches the user as soon as it is needed. Further, an electric tankless water heaters only expends energy when needs to heat water, rather than wasting power as the water sits in the tank.
Obviously, a kitchen renovation is a much larger project than replacing a couple of appliances,but by making this simple investment, you can improve the value of your home in the long term, while saving money on your energy and water heating bills in the process.