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

Help the community by answering this question:


This is exactly the problem with selling a home in uSA. You spend umpteen thousands of dollars sprucing up your home so it is saleable. In 99% of the cases. the home owner loses. Sell your home at a reasonable price and let the buyer handle all the sprucing up. It's time we grow up. The current practice is amateurish, childish and utterly nonsensical.
0 votes Thank Flag Link Sat Aug 8, 2009
I had a client who was going to sell her townhome and she wanted to update it. Someone advised her that her bathroom needed updating, so she spent $6,000 completely re-doing it.

By the time I found her she was very frustrated. The home had been on the market, had not sold. I evaluated her property. She need (in order of importance), new carpet, new interior paint, update kitchen - cabinets, counter tops...but she'd spent all of her available money on the bathroom because she had read that is where she'd make the best return.

Have a Realtor analyze your property. Go look at homes that are on the market right now like yours.
Then return to your property and compare. Buyers buy VALUE.
0 votes Thank Flag Link Sun Apr 5, 2009
Keith Sorem, Real Estate Pro in Glendale, CA

There are additional factors that should be considered: location of the home, its ovarall condition, value of neighboring homes etc.

Our recommendation is to rely on the advice of a local real estate professional that has the answers to these questions and who can best provide you with possible options.

The best response to your question is one that considers much more than to renovate the kitchen or not.......

Good luck
0 votes Thank Flag Link Sun Apr 5, 2009
I think "updating" your kitchen shouldn't cost you 40K if it is your intention to sell your home. You can make some changes and have the kitchen look a lot better for a lot less money. Although generally new kitchens and baths are both a plus when selling, I'm still not convinced you will get the entire amount in your sale price. Also, I'm assuming your house is worth about 400K without the kitchen upgrade, and like I said, I don't believe you will get the entire cost of the update back in the sale. Hope this helps! Good Luck!!!!
0 votes Thank Flag Link Sat Apr 4, 2009
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