Wednesday, April 15, 2015
Kitchen Remodel, How much should you spend?
Consider this. If the homes in your existing neighborhood all have dated kitchens and are fetching at or below market value, you may want to scale back your improvements if you're looking to make money off your efforts. Dated homes take longer to sell but if you have many in your neighborhood the buyers looking are not expecting to pay far more for your lavish updates. You'd think just the opposite would apply, your updates should set your home above the rest, and command a better price. Unfortunately that rarely is the case.
So what can you do in this situation? Well you might want to scale back your project. If most kitchens in your neighborhood have laminate counter tops, that is what buyers in that price point expect to find in your home. That doesn't mean you can invest in nice laminate though. Wilsonart has incredible updated styles that would surely appeal to a buyer, but save you thousands at the same time. Dated old wood cabinets in other homes on the street don't mean you're stuck either, but you may want to considered giving them a fresh new look with paint. Flooring too can be freshened up using some of the tile look alike peel and stick varieties and again save you thousands.
Here's an example of what paint can do for a kitchen, that can stand out and be noticed.