To Remodel or Not Remodel – That is the Question!
The Heart of a Home
Someone once said, “When selling a home remember this: You’re not selling a home, you’re selling a kitchen.”
There’s truth in that. Kitchens are probably the most influential factor in the sale of a home. A kitchen can be a bonding area that ties loved ones together. Family and guests gather in the kitchen to cook, eat and socialize.
And kitchens are growing larger. One of a surveys shows that the average kitchen dimension could be up to 400 square feet. This is indicative of the importance the kitchen. So when you’re selling your home it’s important to consider the condition of your kitchen.
Should We Remodel?
Time to Remodel?
I met with an older couple last week who is thinking about selling their 1971 home. It’s been well cared for and is in a great location. But the kitchen is quite outdated. Formica countertops. Older style sinks. Vinyl floors. They posed several questions that Realtors get asked frequently. “Should we remodel our kitchen? If we do, will it sell faster? And will we get our money back out of it?”
Their concern is valid. No one wants to put money into a project and get less back on the return. But kitchens do help sell houses.
What Do Realtors Suggest?
I thought you might find it valuable to discover what Realtors think. After all, they are the ones who show homes, hear the reactions of those touring the home, and frequently help with price negotiations.
Maybe it won’t surprise you that Realtors do not totally agree on this issue. Some encourage remodeling to make the home more appealing and to increase how quickly the home will sell. This group admits, however, that you probably will only get back 70 – 80% of what you invest in the remodel.
Other Realtors are of the opinion that sellers should clean and shine up the kitchen but allow the buyers do the remodeling. You’ll probably sell the home for less but you may end up with more in your pocket because you didn’t pay for a remodel. This group does admit, however, that the home probably won’t sell as quickly.
Almost all Realtors agree that the kitchen is a major player in the sale of your home. As such you will probably want to:
- Clean the entire kitchen. Make appliances shine.
- Remove any wallpaper (considered old-fashioned by most people).
- Change hardware on cabinets and drawers.
- Consider installing a new faucet or even a new sink if needed.
Consider your neighborhood. Some areas demand that homes have more updates while other areas tolerate more moderate updates. If granite and quartz are the ticket in kitchens throughout your neighborhood you may want to consider doing the same.
Avoid overspending. You want to make your kitchen impressive but keep in mind that it’s easy to spend too much. You may find yourself creating a kitchen that’s out of place with the rest of the houses in the neighborhood.
To remodel or not to remodel. That is a difficult question. Whether you choose a minor or a major remodel, make sure it sparkles and shines. It will be a significant factor in selling your home.