From a real estate perspective, your kitchen is one of the most valuable rooms in your home and that is why so many people renovate their kitchen before putting their home on the market. This can be a significant – and expensive – business, but people don't want a retro kitchen. No, at the very least, most people want to see some improvement. According to a report by Remodeling Magazine, as reported in Forbes, small changes provide a significant return on investment with sellers returning around 80% of the cost. Large increases do not provide the same rate of return – close to 60%.
With this in mind, sellers must be aware of how they approach the renovation process. The goal is to create an attractive kitchen environment, but not spend too much. This is what prospective buyers are looking for, and how you can renovate your kitchen to benefit in the real estate market:
When it comes to improving your kitchen during the pre-sale period, one high-value element to focus is equipment. It's easy for homeowners to enter and renew cabinets with new paint or new hardware, but replacing old equipment is a tough job. The advantage is that people know what they are paying for when a listing notes that a property has all the new equipment and that will draw attention to your property.
If your equipment is in good condition or replacing it outside your budget, there are many simple improvements you can make that will make your kitchen more attractive – and this is why setting a design budget for your overhaul is very important. Among the most affordable options include adding a new layer of neutral paint into the space. This works well throughout the house and many people will repaint the whole house before placing it on the market. Fresh window treatments can also help bring space together quickly.
Brass fittings were popular during the 1980s and 1990s, but have been clearly undesirable for about two decades now. If your kitchen still uses brass fixtures, now it's time to exchange it for nickel or stainless steel. This is a relatively affordable increase compared to many others. In addition, this has a big impact because brass can make your kitchen look more ancient than other old features.
Build a Better Backsplash
The last on the list of easy and affordable kitchen improvements is an increase in your kitchen backsplash. Many kitchens have terrible backsplash designs, including very short backsplash that doesn't protect anything. If you are going to have a backsplash, it should at least serve the purpose and really keep the splash from the wall.
When updating your backsplash, don't mess with sea colors or glass or anything with angles and gaps that will make it difficult to clean. As with paint, your best bet is to keep neutral and lasting backsplash with materials such as subway tiles. In the end, most buyers want a house that is essentially an empty slate.
Repairing a pre-sale kitchen doesn't have to be complicated or expensive. In fact, this is a simple and affordable increase that may be most beneficial for the seller. In many cases, a broader renovation only costs money and forces the previous owner's style to become a new owner so don't be too fussy.