Homeowners Andy and Sally Kim, with the help of the Sweat Equity crew, update their kitchen with the addition of new cabinetry and a tile backsplash. With the major projects complete, the finishing touches are added, including cabinet hardware, lighting and new stainless steel appliances. The Kim's find out their hard work was well worth their efforts. With the kitchen improvement, they increased their home's value by just over $6000.
Here's the dollar breakdown in terms of equity boost vs. project cost:
Final Tally:
cabinets and hardware $6,600
granite countertops $3,600
faucet $190
tile $200
lights $190
supplies $400
labor $700
appliances $4,000
TOTAL = $15,880
realtor's estimated value increase = $22,000
total cost of material = $15,880
net return on investment = $6,120