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You want to sell your home for top dollar. You know your kitchen is out of date. The question is, will the money you spend on kitchen remodeling be worth the return you’ll get? The guide below will help you decide: Should I update my kitchen before selling my home?
Small Changes Can Make a Big Impact with Kitchen Remodeling
Kitchen remodeling doesn’t have to be expensive. You don’t have to completely demo the kitchen and start from scratch. You may only need some simple changes to make a big impact in your kitchen. Replace the hardware and the light fixtures. Thoroughly clean all of your surfaces. Put a fresh coat of paint on the walls. These changes may be enough to refresh your kitchen.
If you want to go one step further, you could do a direct replacement of cabinets and countertops. This is a 10-day program we offer at O’Hanlon Kitchens, Inc. We remove your existing cabinets and countertops and change them out for new ones. The general layout of the kitchen remains the same, but the bulk of the products are completely new. It’s a fast-paced version of kitchen remodeling that will catch any buyer’s eye.
Check Comps in the Area before Remodeling
Before you update your kitchen, look at the comps on the area. Specifically, look at similarly-sized homes in the area that have recently sold. Did they have remodeled kitchens? If so, how much did they sell for? Is there a noticeable difference in price between the updated kitchens and the outdated kitchens?
It’s possible that your neighborhood doesn’t merit a newly remodeled kitchen. Buyers in the area are not expecting all brand new features. At that point, remodeling would not yield a high return on investment. On the flip side, this may show you that you do need to remodel your kitchen. If all the other homes in your area have updated kitchens, you’ll need to do the same to keep up with the market. Otherwise, your home will stay for sale for a while because buyers do not want to spend time or money on remodeling.
Calculate Your Approximate Return on Investment
It’s time to crunch some numbers. You may want to talk to your realtor to get a true depiction of return value. Consider how much you can sell your home for in a remodeled state versus its current state. Compare the two prices. If your kitchen update will cost much less than the potential return, it’s worth the effort. If all it’s going to do is make you break even, you may want to test the market for a few weeks before committing to a remodel.
Consider Your Potential Buyer – What Will They Expect from Your Home?
After evaluating your return on investment, you also need to consider the buyer. What do new buyers expect in your neighborhood? Do homes typically sell to young couples looking for a fixer upper? Or do they sell to settled families that want turnkey homes? Thinking about your audience will confirm if you should update your kitchen.
What Should I Do If I Want to Update My Kitchen?
You’ve decided, “Yes, I should update my kitchen!” Now what do you do? Contact the kitchen remodeling experts at O’Hanlon Kitchens, Inc. to get an estimate for your remodeling project. Give us a call at 443-285-0558 to schedule an in-person consultation. We can help you find the right solutions for your budget and your future return.