Make Kitchen Remodeling A Priority When Preparing Your Home To Sell
Planning to sell your home this spring? If so, you may be thinking ahead to improvements that will make your home more appealing to buyers so that it will sell quickly at the best price. While you may be reluctant to spend money on a home you are leaving, you can increase the value of your home by concentrating on the kitchen – not only the center of food preparation, but often the social center of a home.
Be Moderate In Your Renovations
If you have prepared to sell by watching HGTV shows such as The Property Brothers, Fixer Upper, or Love It or List It, you may be convinced that if you do a major kitchen remodel that includes knocking out walls and adding high-end touches, you will drastically increase the value of your home. Data from Remodeler’s Magazine, which publishes an annual Cost vs. Value study that shows the rate of return on resale for popular home-improvement projects, show that very few projects have a rate of return that approximates 100%.
Your goal in making upgrades is to create a kitchen that is clean, well laid out, and contemporary regardless of the style of your home. The improvements you make may not be the same as ones you might have installed for the comfort of your family in past years. To prevent going into debt as well as making your home too expensive for the neighborhood, you should plan your remodeling with a budget.
What Upgrades Should You Make In Your Kitchen?
If you use the Cost vs. Value report as a guide, you will find that a major remodel of a functional but outdated kitchen in the West Central region, which includes Texas, might cost between $37,708-$56,329, while a minor remodel might cost between $15,264-$18,660.
In both cases you might replace the appliances with new energy-efficient models, replace laminate countertops, update the floors, replace the sink and faucet, and repaint the walls and trim. Whereas you might replace the cabinets during a major overhaul, you would just replace the fronts and the hardware in the minor remodel. You might expect an 83.1% rate of return on the minor remodel and a 64.9% rate of return on the major renovation.
For a more upscale remodel, the sky’s the limit on cost, but the rate of return falls several points below the ROI for a major remodel. When preparing to sell, you get more bang for your buck by doing a minor remodel.
Questions To Ask Before Remodeling
In planning what to upgrade, there are several things keep in mind:
- What amenities are standard for the neighborhood? If you live in an area with upgraded homes that feature stainless appliances and granite countertops, you need to be competitive.
- Who will do the work? If you are handy, you may be able to do some of the remodeling work yourself, which can cut costs. Prospective buyers love professional-looking improvements, so call in the pros if your work falls short or if you don’t have time to do a workmanlike job.
- What is the most cost-effective upgrade? When money is tight, opt for basic improvements for a kitchen upgrade. Repainting walls and cabinets offers an amazing facelift for a small investment.
Call Me For Advice Before You Remodel
A remodeled kitchen is a good selling point for prospective buyers. Before you start renovating, take a look at my tips for preparing your home for sale. Give me a call if you need it suggestions on how to proceed in order to get the best value.