The heart and soul of a home is the kitchen and many times the houses that are for sale have kitchens that are outdated. This worries buyers who are thinking about the immediate expenses that they’ll have to incur after they buy a home. So if you are going to sell your home in the near future, should you spend money to update the kitchen or sell it as is, giving a credit to the buyers? The answer to this question will be a combination of what funds you have to update, the time needed to update, the housing stock conditions in your market, and the target market for your home.
Do Just the Appliances Need Updating?
If you home was built in the 90’s and everything has been updated other then the appliances, it makes sense to update the appliances and give your home an advantage over other homes in the real estate market.
Does Everything Need Updating?
If you home is stuck in a decade (70s,80s,90) then you are better off to just price your home lower by the amount it’s going to take to update it to present standards. Also make sure to check out the competition in the area and match the house stock around you. If you are competing with new construction in your area than you need to go low or update to sell.
Is Your Home a Candidate for First Time Home Buyers?
If first time home buyers are looking at your home, they may not know what it costs to update or have any extra cash other than the monthly mortgage payment. For first time home buyers, it’s almost always best to update the kitchen so they won’t need to finance the project themselves.
Call a Professional for Advice
Many realtors can take a look at your home and give you advice. They also know many home stagers that can get your home looking just right!
Tom Reese has 20+ years experience in helping his clients sell their homes for a price that sells and makes them a profit. Tom has helped his clients buy and sell property in every neighborhood in Northern Kentucky and Cincinnati.
About Tom Reese
Helping my clients attain their dreams has been the foundation of my success. With my strong attention to customer service, I have earned my clients continued support and referrals. Put my enthusiasm and dedication to work for you!
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Tom may be new to rapping but he’s not new to real estate!