Jul 2012 question.
JK has certainly resolved this.
But this is still a GREAT question!
The house must be objectively evaluated for obsolescence.
if were're talking 7 ft ceilings, shotgun bedrooms, and compartmentalized living, then fixing the kitchen, with cabinets and appliances will prove to be wasted money.
If, however, the home has higher ceilings. dispersed bedrooms, two car garage, single level living and a functional (not obsolete) floor plan, you have the right bones to work with.
Next, know the ARV of the home based on recent sales in the area. Extrapolate this homes value from that data. Budget the cost of kitchen to be properly proportional to the homes value.
THIS IS YOUR 'NEW KITCHEN' BUDGET.
The data will show you can safely invest $10,000 or $20,000 or $50,000 in the kitchen without over developing or creating great imbalance.
Head to IKEA and get a "Knock Your Socks Off" solution that WILL put money in your pocket.
I love seeing the contagious smiles as buyer enters a 100 year old house and find 'Fashion Forward' design greeting them. THAT is how PASSION is created in the buyer.
Step two is helping the buyer JUSTIFY the purchase.
Step three is removing the obstacles.
Best of Success
Annette Lawrnece, Broker/Associate
Palm Harbor, FL