The Money Rooms!
Kitchens and baths are the rooms where considerable money is spent in updates. In comparing similar homes, most buyers will look to those rooms to make a decision on which one to choose. A home with a new kitchen and new back, could easily be work $25-50K more in a buyer’s mind.
Obviously location still plays a key role as you cannot change the lot size or location of the log, but, you can make changes to the inside of your home. So, at times, a buyer will choose the home with the most updates over a home with a better lot, but, less updates!
Perceived value is in the buyer’s mind when it comes to the offer. But, factors such as lifestyle and personal preference also play important roles as they may not have the time or the inclination to make all the changes necessary…. in their minds. Sometimes, the buyer does not like the choices a seller makes in the updates. So, when considering putting n a new kitchen, always choose a neutral palette to work with. Bargain flooring or counters are often bargain pricing for a reason.
If you are going to spend money to upgrade, choose quality for the money rooms. These are big decisions and if you buy cheap fixtures and cabinetry, it will show. You don’t need to buy top of the line, but, shop around and buy with a buyer’s hat on and what their perception will be.
To start, check online at MLS Listings to view homes on the market to see what current trends are. You can also check with your Realtor to ask where you should spend your dollars wisely… for your home! If we can help… give us a call!
If you’re wondering what some of the trends are, visit our pinterest for ideas on… kitchens and bathrooms!