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.