Before you put your home on the market, you might look at some of the renovations that you can. Those home improvement projects not only make your home more appealing to a larger group of buyers, but those renovations can also help you get more money out of your home too. This is especially important when selling your home in a buyers’ market. As there are more homes than there are buyers, those buyers can afford to be more selective. When it comes to your kitchen, there are three renovations that are worth both your time and your money.
According to Steve Aaron, a professional Realtor, you should start with some minor changes and updates that impress buyers as soon as they enter your kitchen. Aaron points out that buyers may walk into an older kitchen and automatically assume that they will need to spend $40,000 or more to update it. Even if you cannot afford to replace all your cabinets and floors, you can still make some minor changes that provide your kitchen with a quick facelift. Opt for simple changes like painting or staining the cabinets, adding a fresh coat of paint to the walls, installing a new backsplash and changing out your cabinet hardware.
A great way to grab the attention of prospective buyers and to add value to your home is with some unique features. Many buyers now want more storage, and you can give them more storage with built-in organizers that you buy from home improvement stores and install yourself. You might want to bring in a small pantry too. A tall cabinet placed along one wall shows them that they will have room for all their groceries. If your kitchen has limited space, you might consider turning one or more cabinets into a pantry area that pulls out from the wall.
When buyers walk into homes for sale, they often want to know if the home comes with the kitchen appliances included. If you plan to take your appliances with you, you don’t need to worry about what the refrigerator or stove looks like. If you will sell your home with all those appliances, HGTV recommends splurging on a few upgrades and going with stainless-steel appliances. Stainless-steel is a popular choice because it is easy to clean, has a modern look and tends to look more expensive than other materials.
”Even if you want to add value to your home without actually selling your property, you need to keep in mind that you probably won’t get out as much as you put in to those projects,” said Kitchen & Bath Factory. If you spend $75,000 on a renovation and your home is only worth $150,000 or $200,000, you might only add $40,000 to $50,000 to its value. It’s best to spend around 10% to 20% of your home’s total value on those projects. You also need to think about what buyers want rather than what you want. Couples just starting out and those with small children may care more about having extra storage and an eat-in kitchen than having granite counters and natural stone floors.
Though kitchen remodeling jobs can add value to your home, not all projects are worth the time or the expense. The more money you put into your kitchen, the less money you may get back later. Some of the best kitchen remodeling ideas include replacing your appliances with stainless-steel appliances, adding more storage and organization tools and bringing in some unique features like a built-in pantry. These simple projects may get more buyers interested in making offers on your home and get you more money in the long run.