Value of an open floor plan? Kitchen rehab advice

[Jaron Walling]

I'm purchasing a property with a bad kitchen layout, and by bad I mean claustrophobic. The property is a bungalow 2br, 1b, with a 2 car detached garage. It was built in 1930. If I take a wall down the kitchen and living room would be transformed to open concept! The property needs about $15k in rehab before tackling the kitchen (hvac, roof, windows).

How much value does this add to a property? Would you consider it a risky first time renovation project?

I had a contractor engineer check the roof structure to verify it's not load bearing. 

[Taylor Pelzel]

The potential for an open concept is a main factor I look at in every property I consider. An open concept would definitely raise the resale value but hard to put an exact number on how much it would add in value. I've torn chimneys out of walls to get that open concept. If your looking at flipping, turning a closed concept into an open concept will def pay off if you can find the right person to do it at the right price.