Preparing your home for sale usually begins with looking around and seeing where you can add some upgrades with the hopes of being able to increase your asking price. However, all upgrades are not created equal. When it comes to adding new touches to your home, it is worth knowing that kitchens have the highest Return on Investment (ROI) of any room in your home.
Before you begin, here are some kitchen upgrades that you might want to consider:
Because your kitchen’s appliances can set the tone for the overall feel of the space, a few upgrades can go a long way. It is not necessary to go out and buy the most expensive appliances on the market; instead, look to replace with new appliances that are energy efficient and technologically advanced. If you are on the fence about whether your appliances need an upgrade before selling, a general rule is if it is older than three years you should consider replacing.
It is also possible to make a big improvement by adjusting the tiniest of details. An easy place to begin is with your sink faucets, swapping out the old “Hot” and “Cold” knobs for some shiny brand new ones. New light fixtures can also make an immediate impact, eliminating harsh fluorescent lighting with a softer more natural light.
If new cabinets fall within your budget then you have a strong selling tool as updating the color and style of your cabinets can make buyers fall in love instantly. However this can be a very pricey process. If you are looking to upgrade on a budget, consider giving your cabinets a paint job or replacing the cabinet hardware. Some kitchen designs may even work with pulling off the cabinet doors altogether, going with the ultra clean, modern and minimalist look.
If your upgrades call for replacing floors or countertops, be sure to take into consideration the role of the materials used, their colors and their finishes – and how they are all tied together. Counters made of solid materials like slate or granite are a great touch while stone and wood flooring result in the highest ROI.
Renovations can be a great strategy to help you sell your home faster and at a higher price. Just make sure that you have a budget in place and understand exactly what you expect the upgrades to return to you in dollars. The higher your ROI, the better!