Home Selling in 48323>Question Details

Jim Richards…, Home Buyer in 48323

home sales values with or without kitchen improvements

Asked by Jim Richardson, 48323 Sun May 18, 2008

I live in the Metro Detroit area. I am interested in selling my house (aproximately 400K) I need to update my kitchen. Is it better for me to spend 40K for the update, or should I forget the expense and keep the selling price lower than the added cost of the update?
Thanks for your input

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Answers

5
Absolutely go with the Kitchen Update, if you can afford it.

The returns will be great and your home will sell faster.

Kitchens, sell homes.

Ruth
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Thu Jan 2, 2014
Hi Jim,

Kitchen updates are usually a good idea if its really dated. It may make the difference between you house and another house that is already updated. It is currently a seller's market in the Metro Detroit area. Price the updates you're considering and have your Realtor give you a CMA for your home without updating it and the approximate ROI with the updates. You should also consider how long will it take for the updates to be completed and how soon you are looking to put your house on the market.

I hope all goes well.

Rose Cook, MA, SFR
REALTOR
Short Sale Specialist
National Realty Centers Inc.
1000 S. Old Woodward, STE 103
Birmingham, MI 48009
248-838-9272 cell
248-724-1234 office
248-724-1299 fax
rosecook1972@att.net
http://www.facebook.com/rosecookrealestate
http://www.finallyathomewith.nationalrealtycenters.info website
0 votes Thank Flag Link Thu Jan 2, 2014
Hello Jim,
I was just curious if you decided to do the kitchen updates or sell at a lower price?


Best Regards,
Mike Stawizky
3DX Real Estate
(248) 980-4406
Web Reference: http://moveinnow.org
0 votes Thank Flag Link Thu Dec 27, 2012
PRO: Kitchens return from 80% to 150% of the investment; particularly in a higher end home.

CON: Buyers would want a say in the Appliances and Textures for THEIR kitchen.

and the winner is:

How about having your Realtor put in the Listing that you will contibute $25,000 toward the remodeling of the Kitchen, money to be held in Escrow and released at Closing.
Discuss this with your Realtor.

Good luck and may God bless
0 votes Thank Flag Link Thu Aug 4, 2011
I would strongly suggest having a Local Real Estate Specialist tour your home and view your kitchen....they may suggest some minor improvements that may add value to your home without breaking the bank!! Kitchen and baths are top rooms for Buyers so a dated kitchen will def lower the amount you net from a buyer but there also are great "stating" tools that can help make the kitchen appear charming or less dated! I have sold many homes with what a seller thought was a hopeless kitchen to be loved by a buyer with just replaced appliances and some staging!! Please feel free to email me if you have any further questions!!! Good Luck!! :)
0 votes Thank Flag Link Thu Aug 4, 2011
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