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The Kitchen and Home Remodeling Market is Growing

Date: Monday, October 23, 2023 3:36 PM EDT

The global remodeling market is projected to reach $5.46 billion by 2029, and that means kitchen remodels aren’t going to slow down anytime soon. In fact, it appears that more homeowners are getting their kitchens remodeled now than ever before.

According to one survey, 83% of new homeowners made improvements, and 33% remodeled their kitchen. That’s a significant investment considering the average cost of a kitchen remodel ranges from $23,452 to $68,490.

Why do homeowners remodel their kitchens?

When most homeowners look at what they want to remodel first, it’s usually the kitchen, bathroom, or both. These are the two most important rooms in the house because that’s where people spend the most time during their waking hours.

Most people aren’t willing to deal with an ugly bathroom for long, and the same goes for the kitchen. Homeowners want an uplifting, aesthetically-pleasing space to prepare and eat their meals. Nobody wants to cook in an outdated, ugly kitchen.

When homeowners buy their properties, they don’t always get exactly what they want in terms of the layout and other elements throughout the house. The only way they can get close to their dream home is by remodeling, and naturally, they usually start with the kitchen.

The kitchen is a central location where people gather to cook, connect, have a snack, and eat dinner. For most people, the kitchen and dining room are connected, and if the aesthetics and design aren’t desirable, people won’t even feel comfortable eating dinner. Anyone using the dining room for a project will also feel less than inspired just being next to an ugly kitchen.

The bottom line is that people remodel their kitchen so they can enjoy the time they spend in one of the busiest rooms in their home.

What do people change in their kitchens?

While every job is different, there are some common things people do when remodeling their kitchen. For example, the most common renovations include:

  • Changing hardware, knobs, and handles
  • Refacing or replacing cabinets
  • Replacing appliances
  • Re-doing the floor
  • Remodeling the backsplash
  • Painting

People who don’t mind spending a little more money often perform the following renovations:

  • Moving plumbing to support a different arrangement for the sink(s) and appliances
  • Adding a kitchen island or bar
  • Cutting out a wall to create more visibility between rooms
  • Changing the overhead lighting
  • Replacing the countertops
  • Widening existing countertops

Some people who don’t have enough space inside build an outdoor kitchen that serves as an extension of their standard, indoor kitchen. There are several advantages to having a kitchen in the backyard, beginning with design possibilities. If you get a modular kitchen system, you can create just about any design you wish and have it fit in your existing space. Check out the RTA Living blog for some functional outdoor kitchen ideas.

Other advantages are having more space and preparing and cooking outside for party guests. There’s nothing more frustrating than having to run back into the house periodically when you’re trying to grill something outside. Having an outdoor kitchen also encourages people to spend more time outdoors with their families.

To take things a bit further, some homeowners remodel their kitchens with eco-friendly materials, install Energy Star appliances, and get low-flow faucets. This adds a bit more to the overall cost of a remodel job, but for people who are committed to staying as eco-friendly as possible, this is a must.

Remodels have slowed a bit, but they’re not going to disappear

Despite some reports saying that kitchen remodels have slowed down a bit, it’s not significant. New homeowners will always look at their kitchens and bathrooms to see what they can do to make them better. Almost nobody is truly satisfied with their kitchen as-is when they purchase a home. The remodeling market won’t ever disappear, even if it does slow down briefly.

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Comments

Angry Old Lady 8 months ago Member's comment

What is this crap?  Or should I say spam?  Are you now taking a few bucks to post links?

That's against the site terms of use.  Reported to site admins.