An updated kitchen can help your house stand out for prospective buyers, which can help you sell faster and for more money. That's great news if you're thinking about selling in the future. But just because your home value goes up doesn't necessarily mean that you will recoup the total cost of remodeling when you sell.
A new kitchen can increase home value. In general, the value is expressed as the percentage of money spent on the remodel the homeowner recovers after the sale of the home. Better Homes and Gardens says homeowners can expect a return of about 52% on their investment in a new kitchen if they sell their home.
Paint your cabinets.
Cabinets are one of the first things buyers will notice about your kitchen. If your cabinets aren't in tiptop shape, a new paint might be the best and most economical way to give them a modern makeover since new cabinets can easily cost more than $10,000.
Conclusion. If you want to sell your property, the kitchen is a key factor. The white cabinets and countertops in this modern design increase the value of the home by 10%.
On average, this trend alone can boost a home's value by $1,547. By painting your kitchen cabinets and then pairing them with some new hardware that dollar amount can increase significantly.
Painting your kitchen this color could reduce resale value
According to the analysis of over 50,000 sold homes from around the country, the online real estate company found that homes with kitchens painted in warm yellow hues yielded the highest sale premium. They went for $1,360 above expected values.
Closure of facilities – public services, employment, amenities; if any of these services close, it could impact the value of your house as they're often appealing to buyers. Low school ratings – buyers pay to live in areas with good schools because they want their children to have access to the best education.
If you are looking for an easy way to instantly increase the value of your home, then adding a kitchen backsplash is a great idea! A backsplash will not only add charter and charm to your home, it increases the value of your biggest home asset—the kitchen! The good news is that tile doesn't have to be expensive.
A useful rule of thumb is a kitchen remodel should cost no less than 5% and no more than 15% of the value of your home.
Sometimes a home can take longer than expected to sell. There are a number of reasons why this could be the case including: a slow property market, lack of publicity or photos that aren't doing the property justice.
The Living Room is the Most Important Room to Stage
According to the National Association of Realtors (NAR) and their 2017 Profile of Home Staging, 86 percent of buyers say that seeing a staged living room is “important” or “very important,” a rate higher than any other room in the house.
Detailed Patterns, Warped or Damaged Cabinets
If your cabinets have detailed patterns or they are warped, chipped, cracked or have other damage to them, then painting your kitchen cabinets is not the way to go – it most definitely won't solve your cabinet problem.
Almost a third of home buyers — 32 percent – want white cabinets, not much higher than the 26 percent who prefer a medium brown cabinet color (Figure 1). Significantly smaller shares of home buyers want dark brown cabinets (13 percent), gray (10 percent), beige (8 percent), or black cabinets (5 percent).
Light neutrals are the most popular choice, with 27% of survey respondents reporting that having a white kitchen would make them more likely to buy a property, followed by 22% who would be swayed by a light grey kitchen. More surprisingly, bold colourways like black and dark blue also made the list.
Price out replacing your kitchen cabinets and painting will look better and better. The cost to paint a kitchen is typically 1/3 to ½ the cost of replacing. The paints applied to cabinets are also very durable and will last just as long as new cabinets in most cases.
With proper care of professionally painted kitchen cabinets, you can expect your newly painted cabinets to last 8-10 years. However, there are a few things that can drastically shorten this timeframe, leaving you needing them repainted 3-4 years later.
Painted cabinets are typically 15% more expensive than stained cabinets, so there is an upcharge for the clean, sleek look of paint. Making the choice between painted and stained cabinets does not have to be difficult if you know your preferences and the look you want to create.
So how much value does a new front door add? According to Remodeling magazine, replacing your entry door has an average ROI of 74.9%. With that ROI, you could potentially add three-quarters of the front door cost back into your home's value.
A pantry or a butler's pantry will add value to your property. In recent years, storage space has become an important feature in homes, and experts agree that around 50-75% of what you spent to build the pantry can be added to the value of your home.
Key Takeaways
Sellers should never discuss things like price, why they are selling, problems with the home, other offers, or closing with buyers. Anything said to a buyer's agent should be considered said to the buyer and may be used during negotiations.