Redo Kitchen Before Selling?
Thinking about selling a co-op. New baths, decent everything else, but 20 year old formica kitchen with 10 year old white/black appliances. Redo kitchen prior to listing?
Thinking about selling a co-op. New baths, decent everything else, but 20 year old formica kitchen with 10 year old white/black appliances. Redo kitchen prior to listing?
OP here. Thanks, all. Have some funds, and/or equity, cabinets are chipped, so reface or replace seems in order. Owned for 10+ years, so looking to make a bundle, sounds like it worth a HD-esque reno to make things presentable.
Also, since it’s a co-op, buyers may not want to deal with the hassle of board approval.
I agree with the low-cost reno, especially if you put in Energy Star appliances that the buyer will rationalize will save them money in the long run (isn’t there a tax rebate on those as well?) I myself absolutely wanted a place I could renovate, until I found one that had been put together really well already….!
If you can afford it then do it up cheaply.
It’s already a stretch for today’s buyer to come up with larger deposits and may be a step too far to have to pull out money for a new kitchen (even though the reality of a decent looking refresh is cheaper than most people estimate).
That’s what I did and it resulted in a sale at a good price after being on the market for quite a while in the unrefurbished state.
Silly to spend 30k on a reno when you’re selling soon. For that price, you’re making a strong statement that might not match the buyers. I’d never want high-end appliances and granite, for example, so it would be wasted on me (even recognizing I’m in the minority).
Do a minimal clean up. Reface or replace cabinet doors/pulls. Maybe a middle-end counter top. Would not change appliances unless they’re lemon-yellow or avocado and raunch
Check this out: http://www.greendemolitions.com/kitchensunder5.html
I have to go along with those who are saying a cheap update. When I was looking to buy the thought of having to renovate a kitchen that was incredibly outdated ended keeping me looking. I saw kitchens in places that hadn’t been updated since the 1960 and still had those ugly orange appliances. I had no desire to deal with trying to find a good contractor, living in perpetual construction, or even worse, getting taken like those people who hired Park Slope Kitchens or whatever.
Don’t do a gut reno but you could definitely do some updating that would make the kitchen look a lot better without spending a lot.
I am one of those people who prefer an unrenovated kitchen. But most buyers are not that way. Most people cannot visualize how a space could look different, and they will judge the apartment based on what is already there. I agree, granite countertops and inexpensive stainless steel appliances seem to be what most people want.
A neighbor redid his kitchen with HD — granite counter and SS appliances (no big names). He got $50-75K more than another in the same line and sold very quickly.
Go to IKEA and do a computer-generated design. Save money on the appliances (ie. nice — IKEA again has some pretty good stuff these days — but not deluxe) and economize on the countertop (ie. aluminum edged formica or tile). Upgrading the countertop is something the new owners can do for themselves w/o the hassle of a major kitchen reno.