Home Buying in 12569>Question Details

John, Home Seller in Pleasant Valley, NY

I am interested in how the following would affect selling price? Would I get the money back? New kitchen appliances Hot tub Pool Thanks>

Asked by John, Pleasant Valley, NY Sat Aug 11, 2012

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Hi John, thank you for posting this great question. The issue is you're not comparing apples to apples. What will give you the greatest return on your investment or give you the highest selling price? New stainless steel appliances will set you back approximately $3,000. (and up) A hot tub, easily $8,000 and an inground pool, $40,000. In our area, pools are looked upon as a negative to some people, but a huge positive to others. I've worked with buyers who only wanted a home with a pool and were willing to pay more for it. Your timing is also important, if you're selling in the winter, buyers have a difficult time seeing the value of a pool. But if it's July and really hot, buyers are more likely to want a pool. In general, buyers are typically willing to pay more for an updated kitchen then most other amenities. Does the rest of your kitchen need updating? Sometimes just adding new appliances to an old kitchen, makes it more obvious the kitchen is outdated. Spending your money wisely on a kitchen remodel is always a great investment. If you'd like a free consultation, give me a call.

Curtis C Darragh
Legacy Land & Homes LLC
Principal Broker
Bus: 845-206-9462
Cell: 845-518-7526
curt@legacylandandhomes.com
1 vote Thank Flag Link Sun Aug 12, 2012
New kitchen appliances will likely get you the greatest return on your investment. though it won't be 100% however if you're going to use them for a year or two before selling your home there's a value there to you.

Pools and Hot tubs typically offer a much worse return on investment and many buyers see them only as a negative. In addition these items tend to require a lot of maintenance. I'd think long and hard before putting my money there.

The best return you can get if you're trying to make your house more appealing for sale, is a really good paint job.
0 votes Thank Flag Link Sun Aug 12, 2012
The National Association of Realtors, as well as other trade groups, have done research on exactly these kinds of questions, you might want to seek out the latest findings.

People who sell home improvements like to suggest that anything and everything you do "increases the value of your home." But it's not necessarily true when it comes time to actually put your house on the market and get the best possible price.

Anything that improves the kitchen, especially if it needs it, will pay back most or perhaps all, or more, than your investment. It depends on how bad things are before you remodel or replace. Check out cheap kitchen spruce up ideas on the web, too.

White appliances are coming back into style, so if your white ones look sharp, there is no need to switch to stainless appliances. But if the appliances look bad, it makes it look like you don't maintain the house in the unseen areas, either.

A pool never recoups the investment unless you live in an area where everyone has a pool (Arizona). Many people with young children just will not buy a place with an in ground pool, it's too dangerous for toddlers and too expensive to maintain. If you must have one, perhaps you could consider an above-ground model that at least can be easily removed.

Hot tubs I don't know much about specifically. All I know is that except in certain parts of the USA (California, ski resort areas), they tend to sit idle for many months of the year and they cost money to maintain too. We just returned from a resort area in the Finger Lakes, and I noticed a hot tub near us in storage on the property. The novelty wears off fast. A whirlpool tub in a bathroom would have more appeal, I suspect.

If this were my house I wouldn't bother with either water item if I could live without them. If you don't have a fireplace, though, adding one will return your investment 100% or perhaps more, according to studies I've seen. Again, search it on the web for the latest trends.

Karla Harby
Licensed Real Estate Salesperson
Rutenberg Realty
New York, NY
212-688-1000x146
0 votes Thank Flag Link Sun Aug 12, 2012
The appliance question depends on your kitchen, if you have a kitchen in decent condition, but the appliances are really bad, then it may help. If you have a really old kitchen, then the investment might not yield a good return. As for the hot tub, it's hard to put an exact dollar return, but it can make a house more attractive and enticing.

I would strongly suggest talking to your Realtor about this.
0 votes Thank Flag Link Sat Aug 11, 2012
Depends...are you looking to sell in the very near future....if so invite a few agents from different realty companies and ask for a cma, comparative market analysis, review the data, ask opinions and go from there. If you don't plan on selling anytime in the near future, make any renovations that will make your home more enjoyable to you...
0 votes Thank Flag Link Sat Aug 11, 2012
Hi John! There are a lot if variables involved regarding selling price. Sounds like you need a market analysis. Call me to set an appointment!
0 votes Thank Flag Link Sat Aug 11, 2012
New kitchen appliance can always spruce up a kitchen and potential buyers definitely like seeing the newer appliances in a home. You won't necessarily "get your money back" but will make your home more desirable up against a home with older appliances. As far as the hot tub, not all buyers will be interested in this and could be considered a negative with some.

I am attaching a the Remodeling Magazine's Cost vs. Value article that might be helpful for your future improvements.
0 votes Thank Flag Link Sat Aug 11, 2012
Largely depends on the house and the neighborhood. Would those improvements put you at "risk" of over improving as compared to other properties in the area?
0 votes Thank Flag Link Sat Aug 11, 2012
This question is too vague to give an honest assessment. On the surface, it will probably increase the value. But things to consider are the market for the area. Are you just doing appliances or other kitchen upgrades? You would want to be careful not to do more updates or additions, especially if your home already has updates, that will over update a home for the area.

If its just a pool/spa and appliances, you'll probably increase the value, but may not get it back penny for penny in a sale. My best advise, to take the guesswork out of the equation, is to invite a local real estate agent to give you a market analysis and then discuss what you would like to do and they can give you comparable driven data of what that would mean in today's market. This won't cost you a thing and will be the most accurate in taking community features, cost comparables, other emenities, etc. into the equation. Good Luck.
0 votes Thank Flag Link Sat Aug 11, 2012
It really depends on the new appliances and the pool. The greatest affect on selling price is a new kitchen or bathroom.
0 votes Thank Flag Link Sat Aug 11, 2012
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