The kitchen has some of the more noteworthy features of the home, making it one of the more interesting areas to explore for homebuyers. Owners who want to spruce up their kitchen now in hopes of selling it for a higher price later may want to conserve their budgets by focusing only on the renovations that net the highest returns.
A Rule of Thumb
Every buyer will have their own idea of what makes a kitchen valuable, and these priorities can change based on everything from age demographic to yearly income. However, when experts boil the market down to its fundamental basics, they find that larger kitchen remodels are not worth their high price tag. Homeowners should instead opt for minor remodels if they're looking for a high ROI.
Replacing or updating the appliances is a smart move for two main reasons:
- Aesthetics: Old appliances can make the kitchens seem unattractive on a number of levels, especially if a kitchen has white appliances against white walls. Stainless steel or sleek black appliances can make all the difference and can even help both the current and future homeowner save money on utility bills.
- Functionality: People want versatile ovens, microwaves, and refrigerators. A french door refrigerator with a top freezer doesn't just look modern, it's also exceptionally handy for the home cook who wants maximum efficiency when they're in the kitchen.
There's no need to replace the cabinets and counters entirely, especially if they're made of quality materials. (The only reason why replacement is recommended is if severe cracking is posing a bacteria hazard or if the surface flaws are too large to cover up.) Homeowners are often shocked at just how different their kitchens look and feel after swapping out the outdated pulls on their drawers for a more modern fixture. Painting and sealing the counters can also be both cost-effective while preserving the returns for future buyers. This is also a great DIY project!
Most homeowners know when the floor is starting to deteriorate based on appearance alone. The cracks, stains, and scratches that have accumulated over the years can be a big turn-off to the new buyers, which is why painting or replacing it can have a major impact. Owners who would prefer to replace the floors can consider tiles as a way to squeeze the most out of every investment dollar. These versatile squares, available in practically every material, can hold their own against stains and water alike.
Homeowners who want luxury without having to pay top dollar should investigate their area for scrap materials. Some construction companies will buy slabs that are too large for the project, and then sell the excess at reasonable prices.
Whether renovating a bathroom, bedroom, or kitchen, painting is always at the top of the list for high ROI renovations. The fresh color can produce a striking change and give an old kitchen a brand-new glow. This option is especially recommended for those who can't afford top-quality appliances or limestone granite flooring. When it comes to kitchens, pastels tend to have the best results for home sellers (though owners may want to stay away from white or cream). As tempting as it might be to go with a bold color to help the kitchen stand out, experts recommend owners stick with yellow or gray.
Renovations of any kind are important to Nolensville new home buyers. They prove that the owner walked the walk when it came to maintenance and care. However, going overboard when it comes to a kitchen remodel can also backfire. A home market is only so flexible, meaning that buyers will be working within a relatively small price range. It's not practical to invest $40,000 into a kitchen remodel when the average home sale price in the area is only $150,000.