Is Renovating Your Kitchen Before Selling Worth It?
If you’re thinking about selling your home, you want to make changes that will result in the highest possible selling price. If you’ve got an older kitchen, making some upgrades could net you more money and sell your home faster.
You don’t necessarily want to go all in renovating your kitchen, spending tens of thousands of dollars. It’s important to make changes that make your kitchen seem new to potential buyers and make them fall in love with your home. You’re trying to create a wow factor.
If you’re thinking about a kitchen renovation because you have an older kitchen, consider if you need an all-new kitchen or not. Some buyers may just want to do their own renovation to put their own touch on the kitchen.
Let’s explore what factors you should consider when renovating your kitchen before selling. No matter what, discuss any potential renovations with your real estate agent before getting started.Is Renovating Your Kitchen Before Selling Worth It? #kitchenrenovation #homeselling
What Kind of Market are You In?
In a seller’s market, where houses are selling like hotcakes, you won’t have to do much work on your kitchen. Even if you have an older kitchen, it’s not recommended to spend too much in a seller’s market because you’ll have buyers interested, regardless.
When demand for homes exceeds supply, buyers will probably renovate kitchens themselves, so you don’t need to attract them with shiny new appliances or new countertops.
In a buyer’s market, however, where supply exceeds demand, sellers need to work hard to make their homes stand out. Here, you’ll want to make your kitchen stand out to buyers.
That might not mean a full renovation, but possibly new appliances where necessary, a new backsplash, or a fresh coat of paint. A lot of that will depend on your home’s price point and your budget.
What is Your Kitchen Renovation Budget?
Do you have a budget for a kitchen renovation on your home? If you’ve already got some money set aside to prepare your home for sale, spending some of that on your kitchen could be money well spent.
If you’ve only got $1,000-$1500, you may be able to paint the walls a nice neutral color and install some new laminate countertops. If you’ve got $3,000-$4,000, you may be able to replace some appliances, install a backsplash, and more.
However, no matter how much you’re spending, it’s essential to speak to your agent to ensure you’ll get a positive return on investment (ROI). You don’t want to spend money if you won’t recoup it when you sell your home.
What Season are You Selling Your House?
If you’re thinking about selling your home in the spring, you’ll need to start your renovations early to get them done before the prime selling season starts. Consider what scale of renovations to your kitchen you’ll want and get a time estimate before starting.
If your renovations will just take a week or two (painting or putting in a new countertop), it won’t make too much difference in your timetable. However, if you’re doing a major renovation, like installing new cabinets or changing the kitchen layout, it could take months.
Discuss any major renovations with your real estate agent before committing to see how it will affect your selling timeline.If you are getting ready to sell your home you might be wondering if renovating your kitchen before selling is worth it and here's the answer. #kitchenrenovation #homeselling #homevalue
What Mistakes Do Sellers Make When Renovating Their Kitchen?
Sellers usually have good intentions when renovating their kitchens for potential buyers, but they still make mistakes. The best way to avoid mistakes is to run your plan by your real estate agent. Here are some common mistakes sellers make:
Paying for Pricey Appliances
While buyers want to see newer (or brand-new appliances) when buying a home, it’s not worth spending way too much on top-of-the-line appliances. Shop around instead for a great deal on stainless steel appliances in a mid-grade trim.
Most buyers won’t appreciate chef-grade or high-end appliances, so it doesn’t make sense to overspend on them.
Knocking Down Walls
While redesigning your kitchen and creating an open floor plan is all the rage on HGTV, it’s costly and probably won’t get you a return on your investment. Focus on small improvements that don’t cost too much or cause major construction in your home.
Renovating your kitchen for selling it is different than doing it for yourself. You need to make sensible, low-cost decisions that most buyers will love.
Placing New Flooring Over Existing Flooring
Some homeowners will try to take a shortcut when installing new flooring. They’ll put new flooring right over old flooring.
This might seem like a good idea, but it creates a strange height difference between kitchen flooring and other flooring in the house.
This disconnect won’t appeal to buyers and will actually decrease your home’s value sometimes. While it is an easier solution and cheaper than removing old flooring, this is one area where you should spend the money and ensure a level flooring throughout your home.
Placing New Countertops Over Old Cabinets
Everyone can spot an old broken cabinet, and you don’t necessarily need to replace them. But don’t dress up 20-year-old cabinets with peeling paint with brand new countertops. Buyers will notice and won’t like it.
An alternative is always refinishing your cabinets and adding new stain or paint (if the wood is high-quality). Then you can feel free to put new countertops on top. The bottom line is to match your countertops and cabinets in terms of finish quality.
The Bottom Line
Renovating your kitchen before selling can be a great way to get more money for your home, but it’s essential to go about it the right way. This means figuring out a budget, determining when you want to sell your home, and avoiding common mistakes sellers often make.
The most important thing is to work with your real estate agent. Always remember to interview multiple agents to find one who can help you with your home sale.
Your real estate will have sold hundreds or thousands of homes and helped many sellers renovate their kitchens. They’ll have the advice you need on what to renovate, how much to spend, and more.
Please consider spreading the word and sharing; Is Renovating Your Kitchen Before Selling Worth It?If you are getting ready to sell your home you might be wondering if renovating your kitchen before selling is worth it and here's the answer. #kitchenrenovation #homeselling #homevalue
Reuven Shechter is the Content Marketing Manager at UpNest, where agents compete and you win.
Before joining UpNest, Reuven worked as a content writer and marketing strategist who has written about real estate, education technology, personal finance, e-commerce, and more.
Reuven’s writing has appeared on Realty Times, Mass Real Estate News, Gateway Blend’s family of websites, and many other online publications.
When he’s not writing about real estate, Reuven can be found baking a new bread recipe, taking his dogs for a walk, or planning a trip to Disney World.