An open-concept kitchen and dining room layout is also at the top of buyers' wish lists. Top finishes include stainless steel appliances, granite or natural stone kitchen countertops and white kitchen cabinetry. Most buyers are looking for extra storage space to organize and declutter their homes.
An Efficient Design
Open concepts and acres of counter space are certainly nice, but buyers want a kitchen that is equal parts fabulous and functional. Big or small, ample work surfaces, plenty of storage, and great seating areas are the hallmarks of a well-designed kitchen.
1. Updated Kitchens. Long heralded as the heart of a home, kitchens are probably one of the most important features when selling. Updated kitchens, especially if they are outfitted with stainless steel appliances, new countertops, and bright lighting, are a top priority for many home buyers.
Remodeling your kitchen increases home sale value. According to Remodeling Magazine, in 2021, minor kitchen renovations like replacing appliances, repainting, countertop upgrades, and new flooring typically recouped 72.2% of their cost in the home's resale value.
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%.
If your existing kitchen is very old, worn or out of date, then a brand-new kitchen should add to your home's value. However, if your existing kitchen is already clean and neutral, then spending a lot on replacing it may not actually increase your home's value at all.
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.
As a realtor, you might be thinking that the key information buyers want to know about your listing are the number of bedrooms and bathrooms, and how many square feet are underneath the roof. The buyers might also want to know the schools in the assigned district and if there is a swim or tennis club available.
“In 2022, affordability is the lead story followed by space.” Homebuyers, particularly first-timers, still want large kitchens, designated offices, and outdoor spaces they can enjoy in 2022, according to a recent survey by Zonda. However, many will have to align their expectations with finances.
Installing a new kitchen can add a decent amount of value to your home. The question is, how much value does a new kitchen add, and will the investment truly be worth it? According to property experts, a newly installed kitchen can add up to six per cent of the value of your home.
Purchase matching kitchen appliances
According to HomeLight's recent Top Agent Insights Report, buyers prioritize style over everything else when it comes to kitchen appliances. Shorey advises homeowners to sell their home with matching appliances, consistent in the finish, age, and brand when possible.
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).
You need to have a backsplash in a kitchen because of water, grease, and other elements that can damage or discolor the wall behind the sink and stove. The backsplash acts as a protective surface and should be made of materials that are durable and easy to clean.
As a rule of thumb, a kitchen renovation budget should be around 3-8% of a home's value. Therefore, if your home is worth $500,000, you can safely spend between $15,000 and $40,000 without overcapitalising.
The kitchen should always be one of the first projects to tackle because homeowners want to make a good first impression, and it is one of the rooms where guests spend the most time. “This renovation includes new cabinets, flooring, appliances, countertops and often, the layout, to open up more space,” Muller says.
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.