Kitchen Upgrades Are they Worth It?
They are numerous ways to increase your home's possible value and appeal. It could be something as small as repainting, or something extensive as adding on more square footage that can be used as a bathroom, bedroom, or etc.(make sure to get permits) One great upgrade that always stand out, is upgrading the kitchen. Upgrading the kitchen could mean new appliances, new flooring, new counter tops etc. All these things are great at improving appeal and interest. Something to keep in mind, the kitchen is one of the most used area's in most households. So if a home has a nice new kitchen that gives you one up on your competition.The new trend now for appliances is stainless steel, I am seeing that just about every buyer I talk to mentions stainless steel appliances in some capacity . If a consumer goes online to Zillow®, Trulia® or DuncanPrimeRealty.com (the website you're on now) and see a homes kitchen like below:
Which do you think most consumers will look at first? Stainless steel appliances are eye magnets when searching for a home online. Granite counter tops are also in the same category of stainless steel appliances. Granite counter tops are one of the most desirable upgrades in the kitchen today. Now we are all consumers of some sort so naturally we are looking for the best deal, or looking for a few free extras if we pay regular price on anything. Well home buyers are no different! They are looking for the best deal they can find, even if they are fully aware of the type of market we are in. They still want to find a deal, or make a purchase that they are confident will pay off in the future. Now if a home is priced right with all the kitchen upgrades mentioned above and your competition is the same style house and price the same with no upgrades. Which home do you think will sell first 9 times out of 10. Exactly, the obvious choice would be the one with the upgrades. This is why you have some homes sell in a few days and others sit for a lot longer. Now don't go run out and buy all this new stuff and expect to get all your money back, because you will not. Just because you put 10k in the kitchen does not mean your going to get it back. You may be lucky enough to get 5K of that back.
So why do the kitchen upgrades?
This is all depends on your budget and how fast you want to sell your home. If you're relocating and need to sell within the month. This may be an option to get your home sold faster with out dropping the price drastically just to sell. Another example would be that you live in a subdivision where they are 10 homes on the market and all have similar floor plans. You may do the kitchen upgrades to stand out if the other homes have not done those upgrades.
Finally, as with any upgrades weigh the pros and cons and your situation before you spend a lot of money. If the kitchen upgrades will have a certain positive return with less days on market, more money or etc. Then it's a no brainer. On the other hand if most homes in your area have the same kitchen upgrades consider something different and maybe lowering your price.
If you are in the market to sell your home, contact one of our specialist for your one on one consultation. During the consultation we will find out what your could sell for in today's market. We specialize in getting homes sold fast and for the most amount of money! So give us a call and see if we can help you today! Get you personal home value report here!