If you’re planning to put your home on the market, you likely want to maximize your very limited time and extra cash. It may be a seller’s market, but that shouldn’t stop you from fixing up your home before you list it.
Do you know which space adds the most value when it’s time to sell?
As you know, kitchens sell homes. The kitchen is the heart of the home- we spend more time in it then any other living space – and home buyers are looking to be ‘wowed.’. What you might not know is how to create a space that seals the deal. If you update your kitchen’s finishes and stage the space properly, your home won’t be sitting on the market for long. Here are eight ways to prep your kitchen for resale.
One of the biggest returns on investment in your home comes from a kitchen remodel. An upgraded, attractive kitchen can make your home irresistible. It’s estimated that a new kitchen can add 4 to 7% value to the average property, so if you have the budget this is the most important room to tackle. Ideally, your kitchen renovation should earn a 70-80 percent return on investment when you sell your home. But this depends on the features you choose, how much you spend remodeling and whether your priority is to create a dream kitchen for yourself or a kitchen that will appeal to potential buyers. Whether you’re on a budget or not, here are a few items you simply cannot overlook!
Remodeling for resale means choosing materials that appeal to the masses. Here are seven ways to prep your kitchen for resale.
Talk to a real estate professional.
Ask a local real estate agent (hi! That’s us!) about kitchen must-haves in your neighborhood. Find out what attracts buyers, and what repels them. Research what is being marketed by the real estate professionals in your area and buy those. Sometimes, it is simply a finish color that is important; sometimes it is a brand name.
Cabinets are one of the first things buyers will notice about your kitchen.Reface or, if finances allow, replace worn kitchen cabinets. A can of paint really can do wonders to freshen up a kitchen if the cabinets are in great shape. A do-it-yourself paint job can cost less than $100 (plus hours of tutorials). If you don’t think you can pull it off, hire a professional. Expect to pay a pro anywhere from several hundred dollars to $2,000.
However, if you have cabinetry that needs reviving, save money and replace only the doors. Older cabinets are often solid maple or oak and will look quite nice with refaced doors.
Go for granite.
Here’s the deal: No matter the price range of your home, buyers expect to see granite countertops. It’s already as standard a finish as stainless steel. If you have dated laminate countertops, now is the time to upgrade. Keep in mind the price tag when you choose granite: there’s no need to go for the most obscure, high-end slab. To the buyer: granite is granite—what tier that granite is rarely makes the to-buy-or-not-to-buy discussion.
Quartz countertops are a hot commodity right now and will certainly help sell your home. Some may even argue that quartz is the new standard instead of granite.
So what will it cost? An entry-level granite costs around $45 to $55 per square foot installed. Quartz normally runs $65 to $85 per square foot installed. While that isn’t chump change, it’s a small price to pay for a sold home.
Replace your cabinet hardware and faucet.
These are minor upgrades that can boost your kitchen’s curb appeal for typically around $500-$1,000. The type of finish you choose ultimately depends on your kitchen’s style. Oil-rubbed bronze will do the trick, though stainless steel and chrome are more trendy choices.
If you don’t currently have cabinet hardware, consider investing in a style that suits your kitchen. Our clients have found some great and affordable options on Amazon. The hardware can give your cabinets an entirely new look and feel. It’s an additional cost but, very minimal for the impact it carries.
Invest in matching kitchen appliances. All black, white or stainless steel will give a kitchen a current look. Unless you are planning on staying in the house for seven to ten years, don’t waste finances on designer appliances. While saying good-bye to old-school appliances, why not swap them out for sleek new energy-efficient ones? An appliance with an Energy Star label has been certified by the government to use 10-50 percent less energy and water than conventional appliances. Home buyers love this amenity and are seeking it out while searching.
Floor the buyer.
Select a good quality floor for visual impact for the prospective viewers. Consider replacing if your current flooring is worn and dated and the rest of the kitchen is in much better shape. If you need to replace your flooring, consider this: hardwood is king when it comes to resale value. It’s the floor that buyers look for when they’re house shopping, and it will instantly increase the value of your kitchen.
Add some ‘Wow!’ features.
Convenience items impress homebuyers. Go for extra drawers, a pull-out pantry (tall or in a base cabinet), or soft-close drawers. Lighting, such as under-cabinet fixtures, will add ambiance and show off materials in the kitchen.
No matter what changes you make in your kitchen with resale in mind, never compromise the architecture of your home. When you sell your home, buyers fall in love with the exterior of the home first. That will engage them. If someone really likes your traditional home and you put in a contemporary kitchen, you are setting yourself up for such a niche market of a buyer who is willing to live in a traditional exterior home and who will be happy with a very contemporary kitchen.
A show-stopping kitchen is the way to capture the heart of your future homebuyer.
7 Ways to Maximize Your Homes’ Sales Price – Catalyst Home Team