Kitchen Renovation A Major New Year's Resolution, Poll Finds

As 2016 rapidly approaches, Americans are getting back into New Year Resolutions mode, the time when people of all ages make personal commitments to themselves to improve some aspect of their lives. Typically, these pledges involve things that are done regularly: Save more, weigh less or break even on any debts owed are some of the more customary selections.

This year, something else millions of Americans are resolving to do is giving the most frequented room of their place a makeover: the kitchen space.

Based on a newly released survey performed by home appliance manufacturer LG Electronics, approximately 9 in 10 respondents said that they intend to give their kitchen a fresh new look in the upcoming year. The reasons are manifold, but among them include a desire to make their space more functional - where it’s easier to get several things accomplished - improve its aesthetic appeal and wanting to improve the value of their home should it ever go up for sale.

David Vanderwaal, LG Electronics vice president of marketing, pointed out how for many people, the kitchen is the backbone - the very nerve center of their humble abode - so it only makes sense that they want it to be everything it can be.

“The kitchen is the heart of the home,” Vanderwaal explained. “This study underscores how important it is to have a kitchen that is not only beautiful, but that works hard every day for homeowners and their families.”

New appliances highly desirable
It isn’t just the look and feel that Americans want to update regarding their kitchens; they also want “new toys” to go along with it. For example, of those who plan to refurbish their kitchens, more than half - 56% - said they also want to purchase new appliances and 4 in 10 preferred that they be built-in.

Having the resources, of course, is a make or break component to a home renovation and Americans knows this, the poll indicated. However, in those instances where consumers may not have the financial capital, they’d be willing to do without various luxuries if the payoff was their kitchen’s refurbishment. Nearly 80% of the survey’s participants said they’d be willing to sacrifice “something substantial” for an entire year for the perfect kitchen, including their next vacation, weekends, date nights or the Internet.

Hiring a professional can help keep costs down
As for whether homeowners intend to perform their renovation on their own or hire a professional, that determination also often boils down to budget. In a separate survey commissioned by real estate information firm Zillow, approximately 1 in 5 respondents who updated their kitchen in the past three years wound up spending more than they intended to. Those who used a professional, meanwhile, also went over budget - but not by the same rate as DIY’ers at 18%.

“While some DIY projects can save you money, involving a professional for larger-scale projects, especially those that require specialized skills, can help eliminate headaches and costly mistakes,” noted Kerry Kelly, home design expert at Zillow.

If a kitchen upgrade is in the cards in 2016 - whether you plan on making it a personal project, or prefer to hire an expert - it’s important that you update your homeowners insurance policy. A major renovation affects the monetary worth of an insured living space, often necessitating a reevaluation of its insured value. For more information, speak with your local Selective agent.

For information and quotes on insurance coverage, please visit Bateman Agency site. Or contact Donna Bateman at 908-271-2073.

Photo and article courtesy of Selective Insurance Group, Inc.