Thinking about updating your kitchen or bathroom? You’re not alone—Skokie homeowners are getting savvy about where they spend their renovation dollars, and for good reason. These two rooms consistently rank as the most valuable upgrades when it comes to boosting home value and attracting buyers. In fact, a minor kitchen remodel has a national average ROI of around 96%, while a midrange bathroom remodel can return up to 67.4%, according to the 2024 Cost vs. Value Report by Remodeling Magazine.
But here’s the catch—not all renovations are created equal. What works in one market might fall flat in another, which is why understanding what adds value in Skokie’s real estate scene is key. Whether you’re planning to sell soon or just want to make smart, lasting upgrades, you can make your kitchen or bathroom not only look amazing—but pay you back, too.
Understanding ROI in Kitchen and Bathroom Remodels
Return on investment (ROI) serves as a critical metric when planning bathroom and kitchen remodel projects. This financial measure tells you what percentage of your renovation expenses you can expect to recoup when selling your home. Before demolishing that wall or ordering custom cabinets, understanding ROI helps you make smarter renovation decisions.
Calculating ROI is straightforward: divide the increased property value by your total renovation cost, then multiply by 100 to get the percentage. For instance, a $15,000 bathroom renovation that adds $12,000 to your home’s value yields an 80% ROI.
Interestingly, not all upgrades deliver equal returns. Minor kitchen remodels typically generate an impressive 96.1% ROI, making them one of the most financially prudent home improvements. Conversely, major kitchen overhauls often return only 49.5% of costs. Bathroom renovations follow this pattern too—minor updates recover approximately 73.7% of expenses, while upscale bathroom transformations recoup just 45.1%.
Several factors influence your potential returns:
- Project Scope – Smaller, targeted updates generally yield higher percentage returns than complete renovations
- Location and Market – In competitive housing markets like Skokie, modern kitchens attract more buyers
- Quality of Materials – High-quality finishes can boost resale value, but luxury upgrades often don’t pay for themselves
Time plays a crucial role in maximizing returns too. Although the national average ROI for home improvements hovers around 69%, this calculation represents immediate returns. Homeowners who remain in their property for seven years or longer typically see better long-term value as construction costs increase annually by 3-6%.
For budget-conscious renovations, consider these high-ROI options:
- Replacing cabinet fronts while keeping existing boxes
- Installing energy-efficient appliances
- Updating countertops with durable materials
- Modernizing bathroom fixtures and lighting
Remember though, ROI shouldn’t be your only consideration—the joy and improved functionality you’ll experience daily adds immeasurable value beyond pure financial returns.
Smart Kitchen Remodels That Boost Home Value
Skokie kitchen remodeling consistently ranks as a top home investment, particularly when focused on strategic improvements rather than complete overhauls. Here are a few strategic improvements that are well worth the money:
Cabinet refreshes offer exceptional value without the premium cost of complete replacement. Refacing existing cabinets (replacing doors and drawer fronts while keeping cabinet boxes) costs approximately $7,000-$12,000 versus $15,000-$25,000 for new installations. This approach yields 80-90% ROI and addresses the most visible kitchen aspect. Additionally, updating cabinet hardware and adding soft-close hinges can make the space feel more luxurious at minimal cost.
Countertop replacements deliver impressive returns, especially when upgrading from laminate to mid-grade materials. Quartz remains particularly popular, offering durability and esthetic appeal without the maintenance requirements of natural stone. A typical 40-square-foot countertop replacement costs approximately $3,000-$4,500 yet adds $2,500-$4,000 to home value.
If you live in an older home with worn carpet or low-quality laminate, flooring updates can likewise boost property value substantially.
Other practical improvements like enhanced lighting can also transform a space when it comes to both functionality and ambiance. Under-cabinet lighting improves workspace visibility while statement pendants create visual interest. In Skokie specifically, local contractors note that soft-close drawer systems ($40-$75 per drawer) and quality range hoods with proper CFM ratings ($900-$1,800) are particularly valuable investments.
Lastly, kitchen islands remain highly desirable features, creating additional counter space, storage, and eating areas. For smaller kitchens common in older Skokie homes, portable or slim-profile islands offer similar benefits with flexibility.
Bathroom Remodels That Maximize ROI
Bathroom renovations consistently deliver strong financial returns too, making them worthy investments for Skokie homeowners. Midrange bathroom remodels recoup approximately 67.2% of costs, while upscale renovations return about 60.2%. For residents in the Chicago area, this translates to tangible property value increases.
The average bathroom remodel in Skokie costs about $21,000. Of course, budgets vary based on scope. For example, maintaining existing plumbing locations can reduce costs significantly. On the other hand, changing layouts or converting tubs to showers can quickly add thousands to a remodel.
If you’re planning to sell in the near future, keep in mind that smaller updates often yield higher percentage returns. Minor bathroom remodels typically recoup 70-80% of costs, considerably better than extensive renovations.
Conclusion
Kitchen remodeling in Skokie, along with bathroom remodels are definitely worthwhile investments for homeowners. By taking a strategic, straightforward approach, you can prioritize improvements that balance financial returns with personal enjoyment.
At Moller Builders, we are your one-stop-shop for kitchen and bathroom remodels in Chicago and its surrounding suburbs. Get in touch with us today to discuss your remodel needs.
