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Teresa Dessey, Real Estate Pro in Ronkonkoma, NY

Is it worth it to put in a new kitchen before I put my home on the market?

Asked by Teresa Dessey, Ronkonkoma, NY Tue Nov 29, 2011

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8
It would DEPEND on several things: (it always "depends")

Would upgrading the Kitchen make it too nice for the neighborhood; would it be over-improved?
Would the amount you invest be dis-proportional to the Value of the house?
Would you do it "right" or cut corners?
Would you do it good taste, for the Buyer's taste, (Stainless Steel, not Black or Avocado appliances)?
Would you pull Permits, so that it doesn't come back on you?

Then the answer is, YES!
It will return between 80% and 150% of your investment. (That big variance is who's opinion you ask: I say 150%, but I did Kitchens & Baths for a living in a previous life.)

Good luck and may God bless
2 votes Thank Flag Link Tue Nov 29, 2011
My answer would normally be no, but it dependes on the entire financial situation. I have my Centennial home on the market and have priced it high. I have plenty of equity in the home. I don't want to let it go for too little, but I'm competing with granite countetops which I do not have. I got a price to install the granite in my kitchen ($8000) and will go ahead and do so. This was a small investment for me to get my Centennial home comperable to the others in my neighborhood.
1 vote Thank Flag Link Tue Nov 29, 2011
I'd only agree with Ron on this one if he was the one doing the kitchen!

In my experience, no how, no way.

Here's the thing. The house almost always needs work done besides the kitchen. So the kitchen's done, what about the baths and the floors and the exterior paint and the roof and the driveway and the landscaping and the basement and the windows . . .

Even if the only thing the house truly needs is an updated kitchen, there's the utility value of the existing kitchen that's being thrown away in the dumpster. Unless there's been a fire, there's some value in those old cabinets and appliances.

You can get closer to making it worthwhile with a good architect / designer / contractor team, but I mean, really good.

So, Teresa, my answer is - no. Sight unseen, I call it a "No."
1 vote Thank Flag Link Tue Nov 29, 2011
Generally, I advise folks to drop the price rather than spend the money. However, here is a cheap fix, one which may be worthwhile: put on new handles, perhaps new doors. If the cabinets are painted, repaint them. Choose your colors well, you want to suit as many people as possible, so nothing way out there for colors. If they are stained and polyurethaned, consider refinishing.
0 votes Thank Flag Link Fri Dec 9, 2011
You have to look at the upgrade from different angles. If you have many homes on the market in your segment and there is an over supply of homes for the buyers to choose from, an updated kitchen can make your home more appealing compared to the other offerings. Kitchens and bathrooms are the two areas most buyers look at condition when purchasing a home. Look at the other homes for sale in your price range and see what the condition of those homes are in regards to kitchens. Most owners will not recover the entire cost of the kitchen upgrade in this market but you may be able to sell sooner and for a better price. Most buyers will look at a dated kitchen and reduce the offer by the amount they feel the updates will cost. So it is always part of the equation.
0 votes Thank Flag Link Fri Dec 9, 2011
Not unless you can recover most of the cost, or are willing to take a loss if you cannot.
Web Reference: http://www.golftobeach.com
0 votes Thank Flag Link Wed Nov 30, 2011
Certain improvements must be calculated very carefully. Without knowing more about the condition of the entire house, competing houses, it is hard to advise if installation of a new kitchen will be a good move or not.
Good luck!
0 votes Thank Flag Link Wed Nov 30, 2011
This is going to depend on what you plan on gaining from it. If you decide to do it, do it right. Contact me if you need any help.
0 votes Thank Flag Link Wed Nov 30, 2011
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