With images of gorgeous kitchens flooding Instagram and Pinterest by the hour, it’s easy to entertain dreams of an ultra high-end remodel. But experts say a costly renovation with state-of-the-art appliances and luxury finishes won’t necessarily boost resale value down the road.
“The biggest return on investment is going to be a minor remodel,” says Skylar Olsen, chief economist for Zillow. That might include putting a new coat of paint on cabinets, refreshing the backsplash and upgrading the appliances. “Still, only expect to get back $.81 for every $1 spent.”