• Corporate
  • News
  • Real Estate Experts Warn Against These Kitchen Trends

Real Estate Experts Warn Against These Kitchen Trends

  • December 19, 2019

CMG image

Many homeowners are refinancing their mortgages with today’s low rates.  Refinancing your mortgage can get you a lower mortgage rate, in some cases, and it can also be an opportunity to withdraw valuable home equity though a cash-out refinance.  When you get a cash-out refinance, you originate a new mortgage loan equal to your existing balance plus the cash you wish to withdraw.  Your new mortgage rate will also reflect today’s low rate environment plus any other changes since you financed your previous mortgage like an improved credit score or lower debt-to-income ratio. 

One of the most popular uses for a cash-out refinance is home improvement projects.  Reinvesting your home’s equity in a remodel or repair project could improve your quality of life and increase your home’s resale value.  Many home repair and renovation projects start in the kitchen.  Before you start your kitchen project, read this list of kitchen trends to avoid compiled by Apartment Therapy after interviewing real estate agents from across the country.

Granite Countertops – although many homes built or renovated in the early 2000s boast granite countertops, the trend is out.  Real estate experts recommend going more neutral with your countertops choosing marble, wood, concrete, or white quartz or quartzite.

Open Shelving – this trend has spiked in popularity in recent years, but functionally it may not have the staying power.  Do you really want to see stacks of mismatched coffee cups or a melee of spices and cans all the time? 

Closed-Off Kitchens – while you should keep your cabinets closed, open floor plans are in, and have been for some time.  Closing off your kitchen makes the kitchen itself and the entire home look smaller. 

Dark Colors – lighter colors add space and can help create a more natural flow in your home.  Darker paints and cabinetry really only work in a space that’s large enough and gets adequate natural light. 

DIY Projects – we all get sucked into Pinterest and home renovation shows, but unless you’re a professional artisan, your do-it-yourself backsplash or hand-painted cabinets won’t increase the value of your home.   

Renovating or upgrading your kitchen is an opportunity to add value to your home, when you invest appropriately.  Work with a licensed contractor to ensure your project is cohesive and up to code.  Consider replacing older appliances with new, energy efficient appliances.  Functional upgrades typically get higher returns on investment than stylistic changes.

If you’re interested in refinancing your current mortgage, check out our mortgage calculators.   Estimate your new monthly payment and find out how today’s low rates could work for you.

 

Sources: Apartment Therapy

  • Facebook Icon
  • Linked In Icon
  • Twitter Icon
  • Google Plus Icon

Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Broker and Lender #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1820).