Splurging On This Common Kitchen Upgrade Might Cost You In The Long Run

Whether you've been saving up or an accident forced your hand, renovating your kitchen can be a big (and expensive) project. Plus, with interest rates remaining high, many might have decided to simply upgrade their home (rather than shop for a new one) while they wait out the economy. Whatever your reason might be, there can be a lot of considerations to factor in when deciding on a kitchen renovation.

Another particularly important thing to keep in mind is that there are several renovations you should probably avoid if you plan on selling your home anytime soon. However, if you're looking to be in your home for the long haul, making sure to balance your budget with your dream renovation list can be important. According to the Joint Center for Housing Centers of Harvard University, home improvement project spending was steadily increasing since before the pandemic. While home improvement spending was around $328 billion in 2019, it was estimated to hit $485 billion in 2023. However, prolonged high interest rates, along with a sluggish housing market has led to a decline in home spending in 2024.

With prices up across the board for necessary renovation items like appliances, floor coverings, paint, and coatings, it can be more important than ever to make sure you can get the most out of your kitchen upgrade. This can mean paying special attention to design trends and styles, and maybe even prioritizing certain, more affordable, upgrades over others. Perhaps one of the most popular kitchen upgrade choices is a new backsplash.

Perhaps the most significant area in your kitchen that can provide a space for color, creativity, and unique style (while also being functional) is your backsplash. Popular trends in 2024 have leaned toward more color and mixed textures than the ubiquitous white subway tile trend of the last few years. In fact, according to The Kitchn's 2024 kitchen design trends, textured, glossy, and colored tiles are the "in" trends for those looking to redo their kitchen design. However, as bold and exciting as these tile choices can be, there are some potential downsides to consider. As Christopher Hanson, a Coldwell Banker real estate agent, explained to Realtor.com, "Strong personal style choices when it comes to backsplashes or colored tiling can quickly turn into a waste of money in a few years."

Like with most areas of your home, certain personal touches and/or the use of specific styles can ultimately hurt your resale value (though there is one particular home improvement project that guarantees a big ROI). Since many would-be homebuyers tend to bring their own personal style or preferences with them, having a space that already features a bold or specific trend could end up being a turnoff to potential buyers. This can make splurging on a specific kitchen backsplash not financially worth it in the long run. However, this is ultimately a trade-off you have to make for yourself on how much you would enjoy the backsplash versus how much you care about eventual resale value.

Like previously mentioned, if you intend on being in your home for a long time, then the faraway potential resale value of your backsplash choice probably doesn't matter that much (though we still recommend avoiding certain renovation projects). It's important not to overemphasize the day you might eventually sell your home over the everyday experience of actually living in it. On that note, rather than focusing on the specific color or style of your backsplash, it's far more important to consider the practically of your choice. Remember that backsplashes, especially the area directly above your stove, will be subject to a lot of wear and tear. Making sure to choose an option that's not only durable, but also easy to clean should be a top priority in your material choice.

Similarly, when it comes to installing the backsplash in your kitchen, there can be a lot of considerations, ranging from how high to have the tile on your wall to how to properly seal it. While brave DIYers might think a backsplash looks easy to install, when you factor in considerations like placement, sealing, and even design elements, it could ultimately be worth hiring a professional to make sure your kitchen comes out like you want. If that isn't in your budget, you can always try out cheaper peel-and-stick tile options, which can also give you the opportunity to live with a new color or design in a temporary way while you decide what you really want in your kitchen.