Kitchen renovations increase the value and make your house sell

We’ve all heard the news about the dire state of the American housing market, but just because the economy is down doesn’t mean selling your home is impossible. Whether you’ve been trying to sell your home for months or have been thinking of putting your home on the market, a kitchen remodel is a surefire way to add value to your home and reduce the time to sell.

Now, just to be clear, we’re not talking about a complete kitchen remodel from top to bottom. According to the Wall Street Journal, a complete kitchen remodel (with appliances) cost more than $54,000 in 2006, and sellers only recouped 80% of that cost! A small-scale renovation is more cost-effective and doesn’t consume as much capital out of pocket. The same Wall Street Journal The article noted, “Less drastic jobs, like changing countertops and refinishing existing cabinets, pay off better…”

The appearance of your kitchen is crucial to selling your home. Of your entire home, the kitchen is probably the only single room that can make or break a sale. As California real estate agent Sherry Lee Cox said in an article on the Real Estate Network, “Buyers are generally passionate about the kitchen in any home they’re considering buying.” So, especially if you’ve used linoleum or formica countertops that look worn, it makes sense to give your kitchen a bit of a makeover if you’re trying to sell.

There are a number of small changes you can make to bring out the best in your kitchen, from replacing an old porcelain sink to adding cheery new curtains. The two best improvements you can make are replacing the flooring and installing new countertops; Not only are these remodeling jobs relatively affordable, but they also give you the most bang for your buck. That’s because in the last five to 10 years, market standards for kitchens have shifted away from synthetic materials, like vinyl flooring and laminate countertops, to wood flooring and stone countertops. For your home to be competitive in the real estate market, your kitchen must meet these standards.

Remember, it’s best not to overdo it when making small improvements as an investment. To recoup as much of your initial outlay as possible, you need to keep expenses under control. Focus on the areas of your kitchen that would benefit the most from an update, and look for inexpensive materials. For example, imported granite countertops are great, but so are less expensive engineered quartz countertops.

Today’s most desirable kitchens feature hardwood floors and solid surface stone countertops. Depending on your budget, it’s best to remodel both areas of your kitchen to keep the overall look consistent; replacing your laminate counters with granite slabs only goes a long way if your flooring is still 20 year old vinyl! The good news is that with all the different stone countertop and hardwood flooring materials available today, you’re sure to be able to find quality products that fit your price range.

In addition, it is important to keep in mind that even if you do not recover 100% of your investment, in the end the remodeling of your kitchen is worth it. Homebuyers will fall in love with your fresh, modern kitchen, while an outdated, tired, or bland kitchen might turn them off. The upgrades you make to your kitchen will invariably be what sells the house: Colorado realtor Daniel Johnson tells of two comparable homes in his area, one “with an updated kitchen, listed for $710,000, [that] recently sold, while an identical unit without the new kitchen, listed at $699,000, has had no buyers.” So, even if your investment doesn’t fully pay for itself, kitchen renovations will attract buyers and produce results. As you say Johnson, kitchens sell units.”