There is no doubt that the kitchen is the central space in the home. Statistics show that the average kitchen remodel costs almost $64,000.
Whether you are seeking to simply expand the living space or revamp the entire home, updating the kitchen can add that extra element to the overall look of the house. However, the common question is, “Is it necessary to update the kitchen before selling the home?”
Most people seek to own their dream houses. They often look for homes that look perfect including the kitchen.
Updating the kitchen has a proven record of a high return on investment. If you’re planning to sell your house, then it is high time you invest in updating the kitchen to give you a high return on investment.
Benefits of Updating your Kitchen
- 1. Attract modern buyers –
Very few people might find bygone era design very appealing. With the growing trends in interior design, modern buyers often opt for houses with kitchens that follow the latest trends. Also, modern buyers look for eco-friendly utilities
Therefore, updating your kitchen as per the latest trends can enable you to attract those buyers who are looking for a classy and efficient one.
- 2. Sell the home faster –
As said earlier, the kitchen is the most important area in your home. By updating it, you will have better chances of capturing its beauty, so you can advertise your property in a better manner. This you help you acquire customers effortlessly and sell the home at a faster rate.
- 3. Increase your home value –
When selling your house, your objective would be to obtain high return on investment. If an amount is invested (depending on the needs & expected returns) in updating and enhancing your kitchen, it is likely to add value to the house and helps you acquire desired return on investment.
- 4. Get a better deals –
Potential buyers will envision themselves in the kitchen. Although they don’t expect it to be perfect, a kitchen will “wow” factor is likely to fetch you better deals than the kitchen that is contemporary styles and is worn out here & there.
Although updating or revamping the kitchen is vital before selling the house, there are a few factors that must be considered before working on the look of your kitchen.
Key Decision Makers
The most important aspect to consider is your target price range. For instance, it doesn’t make sense to invest $85,000 on kitchen in a $330,000 home if you simply won’t be around to enjoy its look and usability.
Similarly, if your house is already of high value, investing in your kitchen and making it very expensive for the buyers may not be fruitful.
Also, kitchen in an upmarket home need not be updated as long as the layout is functional and open and functional. This is because, at higher price points, the buyer may want to personalize things as per his/her taste.
Another major aspect to consider is your location. If your home lies not so close to downtown, you will have to prove to your potential buyers that your living space is worth the purchase and commute.
For instance, if you are minutes away from downtown, you can invest some amount and make minor improvements in your kitchen.
However, if you are not very close to the town, then reconsider investing in the kitchen as you would be running out of buyers on expecting high price from them.
So, how do you update your kitchen at lower cost & accomplish high return on investment?
- Work on cabinets – Replacing or working cabinets might not be in your budget. But freshen up the cabinet can add new look to the kitchen as a whole.
- Replace drawer pulls and doorknobs with stainless steels or classic finishes to give a brand new look.
- Paint cabinet with dark shades and eye-catching colors. You can also consider adding soft shades to decor the cabinets.
- Replace doors or glassware with glass fronts to give a custom look.
- Paint the walls – Painting job in one task that tops the list when planning to update the kitchen. It is one of the inexpensive ways of enhancing the look of your kitchen. When you are choosing colors, it is always wise to choose newer and lighter shades as they can give open and expansive feel. You can also opt for neutral colors or maybe citrus shades, which are quite popular in modern days.
- Replace outdated backsplash – If you haven’t changed your backsplashes for a decade, then it is high time you replace them. The backsplash can make a solid statement or blend as a background. Select wood, creative blend of glass or flash glass mosaic and title to leave a lasting impression on your potential buyers. If glass mosaic doesn’t fall within your budget, you can choose easy-peasy stick options.
- Replace flooring – Replace the broken title or refinish the wood floors. When it comes to wooden flooring, hardwood is the king. It has high resale value and is something potential buyers often look while making a buying decision. However, quality hardwood isn’t something that everybody can afford. In such case, you can choose less expensive wooden like flooring like porcelain and vinyl tile, etc.
- Update lights – Lighting is a key factor that creates an open and inviting space that captures buyers’ attention. Replace outdated, dim and broken lights with brand new ones. If there are pendant lights ensure they meet the latest trends. If they aren’t modern, shop for some lighting fixtures that are affordable yet attractive.
Updating a kitchen is not merely about replacing flooring and lights, painting, etc. It is also about keeping the kitchen clean and proper staging.
Arrange the tables, chairs and decor such that it gives an open look, not closed & cramped. Use fruits, flowers and other inexpensive decors and make it worth buying.