You’ve probably heard the saying “families that eat together, stay together”. Did you know there’s actual evidence behind the words? Family dinners help build healthy relationships, and cooking at home often leads to healthier food choices, too. Great!
Not so fast.
You’ve also probably heard the saying “too many cooks in the kitchen”. Did you know there’s actual evidence behind the words? Look no further than your own home, because cooking with family is a chaotic disaster! Half the ingredients end up on the floor, the other half in the kids’ hair. Someone is crying. Someone is screaming. Someone got stabbed with a fork.
Perhaps it’s time for a bit of a remodel to make the most of your available space. Here’s a few ideas that might help inspire you.
Declutter and Organize
Start by channelling your inner Marie Kondo without having to do a whole kitchen redesign. Make the most of the space in your cupboards and pantry with extra shelves, a spice rack, and hanging door organizers. There’s even loads of organizational potential beneath your sink!
While adding lights won’t magically extend your counter, it can give you the impression of a larger, brighter space. Kitchens are a great place to experiment with interesting task and statement lighting to not only make the room functional, but create a focal point for your home. Sunken LED lights can contribute a very clean and modern look as well.
Breakfast Bar or Island
A well-placed kitchen island will provide additional counter and storage space, and is often worth the penalty of its additional footprint in your home. You can even purchase a rolling cart and move it out of the way when not in use for the best of both worlds.
New cabinets can revolutionize your kitchen’s look and feel while providing heaps of additional utility. Floor-to-ceiling designs unlock real estate that wasn’t properly utilized by older units. There’s even the potential for integrated appliances to optimize vertical use of space.
Just like cabinets, new appliances are capable of doing more than looking nice. They are typically energy efficient and might even do a better job of washing your dishes. As well, some manufacturers are releasing smart appliances that can automatically make your coffee in the morning and then send you a text message letting you know that you’ve run out of cream.
Sometimes it can be difficult to pick just one item on the list. Perhaps you’ve spec’d out fantastic cabinets but they conflict with your existing countertops, and if the countertops have to go so does your backsplash, and so on. At this point you should consider a kitchen renovation as an investment for your family and into your home. A recent survey on realtor.com shows that buyers across all age groups rank the kitchen as the most important space in a house and you can expect to recoup a large percentage of renovation costs when you sell your home. Considering all the positive impacts a functional kitchen can bring for your family, this proposition might be the best option.
Kitchen renovations don’t have to be incredibly expensive. A budget-conscious approach can involve replacing cabinet fronts, counters, and updating your appliances. Alternatively you can opt to replace everything, including the kitchen sink.
Before beginning a renovation it pays to have a plan, and that plan should include a solid understanding of your budget. Fortunately you have some options and Benson Mortgages can help out.
2nd or 3rd Mortgage
Your home is an asset and as it grows in value you can get access to that additional equity and use it to your advantage. A 2nd or 3rd mortgage lets you do this without having to sell your home by borrowing money against that increase. A typical reason people choose this option is to renovate in order to further increase their home’s value and appeal before selling it – that’s why these mortgages are often referred to as “renovation mortgages” or “home improvement loans”.
Refinancing a mortgage means you pay off your existing loan and replace it with a new one. There are many reasons to refinance a home and also several market signs to look out for, such as a drop in interest rates. The Canadian real estate market has continued to be strong throughout the coronavirus pandemic and interest rates are low. If it has been a while since you paid attention to your mortgage and current rates it is definitely worth your time to consider the options available to you. Feel free to give our team a call and we will show you what’s available!