Everybody loves a new kitchen but don’t forget the sale appeal
A fully renovated kitchen, closely followed by a kitchen upgrade, is catnip to buyers. A study from the National Association of Realtors (NAR) finds these kitchen projects are the improvements that appeal to buyers the most.
But once a kitchen makeover is complete, owners may not feel much like selling. Owners report enjoying their home more and wanting to stay home more following kitchen improvements.
No wonder, then, that real estate agents say they often see owners renovate their kitchen two or three years before they plan to sell.
The “enjoy your kitchen while boosting sale appeal too” approach might even lead to a better renovation, believes Ines HegedusGarcia of Avanti Way Realty in South Florida. This is since owners are “completing the project for their own enjoyment and not just for resale purposes,” HegedusGarcia observes.
But owners have to be careful not to use a “look that is going to broadcast the year you did it,” warns Kathryn Bishop of Keller Williams Realty in Studio City, California.
Instead of looking to TV home shows for inspiration, ask a real estate agent for advice on what buyers in your area want, and what design trends have staying power, Hegedus-Garcia suggests.
Visit newly constructed homes nearby for insights on appealing kitchen elements in your area, Bishop adds.
Strategic upgrades might see a greater payback at the sale. “The replacement of appliances can make a huge difference,” says Nicole Galluzzo of
HomeSmart Realty Group in Lakewood, Colorado.
Indeed, the NAR study finds that while kitchen projects score highest on a “joy” measure, less than 60 percent of the cost is recovered in a higher sale price.
The biggest payback, returning 107 percent of the cost, is a new roof, according to the NAR.