A kitchen remodel is the home renovation project that offers the largest return on investment, said Dustin Fox, a realtor and owner of the Fox Homes Team, a group serving Virginia, Washington, D.C., Maryland and West Virginia. When the renovation is done correctly, it can return 100% of the investment.
However, he said there are limits to the amount you should spend.
“Updating a kitchen to a luxury level is not a good investment policy,” he said. “If the kitchen upgrade costs more than $135,000, then the ROI rate comes to the 54% average.”
Ultimately, he said if the update isn’t efficient, it’s not worth it.