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Hello,
Just a little tid bit ad here, and that is what the 2008 Realtor.com Value to investment shows! Basically on a kitchen remodel, there are several plateaus! Some include, minor or major remodel, and middle or upper home price ranges, that all bring different pricing value on your return. Generally speaking Kitchens are about 60-78% recoverable. Good Luck, and if you are in need of more help, just let me know!
"Mr Ed" Alvord, Realtor
In my opinion the answer would be no. What a remodeled kitchen will do for you is be more appealing, be more competitive, all of which will bring you a buyer faster. Which is great because of the number of homes that are on the market, the more positives you have the better off you are. The downside of that is that the chances of you getting all of your money back is not great, and getting more than your money back is even lower. In my opinion take what you were going to spend on the remodel, and knock it off the sales price. The lower the price of the home, the more people who can qualify for the property. Not only that but if your home has been on the market for a while if you remodel and keep it around the same price range the buyers who are active right now have already seen your property and probably won't go back even if it has been changed. If you reduce the price you will have a whole new set of buyers who have not yet seen the property. Just like everything there are good and bad to both sides of the coin, and in the end it all depends on your situation and what your goals are on which is the best decision for you.
You could see a good return on your investment if the remodel is done to today's standards. Most buyers are looking for solid surface countertops, tile floors, neutral paint (no wallpaper), upgraded lighting, upgraded appliances (50/50 on gas or electric) and faucets. You can easily outspend the resale value of the remodel. You indicated you are in the 73159 zip code so your home is most likely under $175,000. I would not recommend spending more than $7,000 on a new kitchen if possible. What work can you do yourself? Small areas are very easy to tile. Countertops are better left to a professional. Look into 2cm granite with enhanced edges. You can find it around $35.00 per foot installed.
Absolutely! Kitchens are one of the best places to invest dollars because you can get back most of what you invest there. Make sure that the finishes are top grade for the value of your home and then make sure that your realtor markets the improvements and takes new pictures. An updated kitchen is something most homebuyers are seeking and this should help you sell your home in a timely manner.
Generally, the best place to invest remodeling dollars is in the kitchen and baths. You didn't state how much the home is listed for. In a high-end neighborhood granite (stone) countertops are expected, along with stainless steel appliances and tile floors. If you home is in a more modest neighborhood, you could sink a lot of money into remodeling that you will not recapture. Remember; buyers are looking for value, not necessarily the lowest price.
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