While much of the country is still experiencing a commercial and residential building boom, San Jose is breaking ground in its own way. Homeowners from all walks of life have a similar demand for quality and long-term housing, but a persistent shortage in new construction is leading many would-be home buyers to stay put. That itch for a change of scenery? It’s more attainable than ever. Adding a brand new home addition, chef’s kitchen, or master retreat can do more than make you feel at home — it can add significant value to your property. We spoke with Jim Kabel, President of Next Stage Design, who gave us an inside look into the remodeling market in San Jose and gave us a few tips on what to look out for as a homeowner.
Why are Silicon Valley homeowners remodeling instead of moving?
As Silicon Valley residents search for the perfect home, the true cost of moving — both in real dollars spent, and the time and hassle you’d have to invest in the process — starts to settle in, and remodeling becomes a more attractive option. Many of our clients choose to remodel because they enjoy what they already have; they love the area they live in, whether it’s their neighbors, the schools, or the commute, but at the same time, they see that there’s room for improvement.
What are some good financial reasons to remodel instead of move?
- Cost per square foot in the area can be north of $1,000. Depending on the room involved, the cost of an addition or remodeled space with new upgrades and features could be significantly less.
- Due to recent price increases in the area, many homeowners have untapped equity. Staying put could be even more worth it than it was just a few years ago.
- Limits on mortgage deductions. Build or make improvements to your home, and see the dollars taken off of your taxable income. The same goes for state and local property taxes.
How much resale value can a kitchen remodel add to a home in Silicon Valley?
Remodeling Magazine’s Annual Cost vs. Value Report can be a useful resource in determining the value of potential home improvement projects. The return for a kitchen remodel in Santa Clara County, in particular, is among the highest in the country. Homeowners can see a 70% return for a major kitchen remodel, and 90% for a minor fix-up that focuses on gourmet appliances and modern fixtures.
Besides resale value, what can a kitchen remodel do to improve a home for current and future owners?
A kitchen remodel can add more than resale value. Even a minor overhaul can have major benefits. It can put the excitement back in entertaining, make meal prepping and cooking feel more accessible, and make it easy to enjoy one of the most vibrant family spaces in the home again.
- Wish it was easier to entertain? Consider adding chilled wine storage, a beverage center, or a large island with more usable counter space. You’ll have everything you need to host like a pro and you’ll enjoy entertaining in your kitchen again.
- Want more room for meal prep? Homeowners are typically eager to add counter space, but make sure it’s strategically placed. Make good use of your “work triangle”, the three-part space that consists of the cooktop, sink and refrigerator. If you’re taking on a larger kitchen renovation, you can have a designer look at what improvements can be made for the flow and function of this space. A minor kitchen renovation may feature updated add-ons like gourmet appliances, a larger sink, and a custom oven/cooktop.
Final Tips on Kitchen Renovations in San Jose
- Cut through the clutter; work with a designer to evaluate storage options, including pantry space, and pull-out and hidden storage. Remember to choose the storage solutions that feel convenient and accessible to you. After all, it should be designed for the way you live!
- Save space; Combine desk, bills, and homework stations by adding an oversized island. It can also function as a breakfast bar in the morning and a buffet at dinner parties.
- Open up the possibilities. Open your kitchen up to the adjoining family or living room, add more windows, and choose light and bright colors to make the new space feel as homey as possible.
Ready to make your next move? Chat with one of our remodeling experts to see how you can make your dream home come to life.