Will Updating Your Kitchen Help Sell Your Home?
BLOG Contribution by Erik Tammaru, Realtor with the Eric Stewart Group of Long & Foster
One question I often get as a Realtor is, “Will updating my kitchen help me sell my home and make more money?”
My answer is normally, “Yes!” I tell my clients that we like to recommend upgrades that will get you a good return on investment (ROI). For every dollar you put in, we’d like you to get two back. If you are three years out or less to selling your home, I’d recommend certain updates or upgrades to your home. Here are three reasons why:
- Why not fix up that kitchen you’ve been unhappy with now, and enjoy it for a time before you move? I’ve had so many clients tell me, “Erik, now that I’ve finally gotten my house to where I like it, it’s time to move!” Things like kitchen or bath remodels take time and can be costly, but if your home is really outdated – flooring, cabinetry, countertops, tile-work – a makeover will help you sell your home.
- Updated kitchens are a good ROI. A recent client of mine had their Gaithersburg home appraised and then called me to sell their home. Their kitchen was greatly in need of updating, as well as the main level flooring. Cabinets were over forty years old, old gray Formica countertops looked dated, and the carpeting and floors were in sad shape. I recommended vendors from our Preferred Vendor Guide and they put in new cabinetry, countertops, and laminate floors – all for about $20,000. We went on the market and the home sold in three weeks for $60,000 more than it had appraised before the upgrades. I’d say that was a good ROI!
- Updating your home in neutral colors (walls, floors, and upgrading older kitchens, and baths) are proven sellers of homes. Buyers today have watched HGTV and are looking for these kind of homes. An upgraded, sharp looking home will be more attractive and normally fetch offers quicker than those that aren’t.
If you are wondering what needs to be done in your home, we are the experts! I will be glad to give you a free assessment, make suggestions, and provide vendor information to help you prepare your home to sell for the most amount of money. Even if you are far out in the process, getting it done will enable you to enjoy your home now, then sell your home for more $$ later!
This blog was written for the Eric Stewart Group by Erik Tammaru. For more information about Erik Tammaru, find his biography here.