The two things that home buyers look for when examining homes on the market are the kitchen and the bathroom. While they may purchase a home that has less square footage than they wanted or one with a smaller backyard than they originally desired, they often walk away from homes that have outdated kitchens or bathrooms that need significant work. Those buyers assume that the homes require too much money and work. Before you launch a major renovation of your own kitchen though, look at the pros and cons of that job.
Appeal to More Buyers
The biggest benefit to a kitchen renovation is that you’ll appeal to more buyers. Simply added renovated kitchen to your home’s listing will get more buyers through the doors of your next open house. They’ll want to see what appliances come with your house, the type of counters in the kitchen and the cabinets that you chose. Renovating your kitchen will also help you appeal to those who don’t want to spend a lot of time looking for a new home and those who want to move in as soon as possible.
The downside to a full kitchen renovation is that you might opt for things that match your own sense of style without thinking about what buyers want. When you have a large family, you might focus too much on adding a eat-in feature to your kitchen that lets you share meals as a family. You might add a large island in the middle of the kitchen because you spend a lot of time cooking too. Unless other buyers will use the kitchen in the same way, they may not like the changes you made. You also risk choosing colors, counter materials and even cabinets that don’t appeal to a wide range of people.
Making a few changes around your kitchen can help you sell your home faster. Buyers know that between putting in an offer, the seller accepting that offer and the closing that it can take months before they move into a new home. If that home needs any work, they’ll need to take care of that work before they move in or deal with loud construction workers over the first few weeks or months. With a move-in ready kitchen, they can get through the process faster.
When doing a kitchen renovation, also think about how much you’ll get back. The more money you spend, the less you’ll get back from a future buyer. Learn more about renovations that are worth the money and how you can find a licensed contractor in your area to handle your project.