Homes With a New Kitchen List for More and Often Sell Above List Price
Updated: Mar 1, 2022
Want to sell your home for more money in Hampton Roads? Here's why a kitchen upgrade may be worth the investment.
The kitchen is one of the most important rooms in a home, serving as both a central meeting place for family and a functional area necessary for preparing meals. So it’s easy to understand why a state-of-the-art kitchen is a must-have for millions of homeowners from coast to coast. For those considering home upgrades, the kitchen is a great place to start. A kitchen remodel can add value for current homeowners, and appeal to homebuyers if you’re looking to sell in the near future.
A kitchen remodel can increase your home value
For homeowners who plan to sell their homes any time in the future, value is an important point of consideration. A new kitchen can play a significant role in higher than average list price, while an outdated kitchen that doesn’t meet functional needs can deter buyers in any housing market.
Think renovating a kitchen isn’t a big deal for prospective homebuyers? It is. It’s possible to recoup virtually the entire cost of a kitchen upgrade in the purchase price, giving you the opportunity to remodel your kitchen from top to bottom, with less concern for expenses.
Homes with new kitchens are rated number 1 for most valuable home improvement trends. The median list price on homes that have a new kitchen is $14,500 more than the national median, and on average, these homes sell for above their list price.
When planning a kitchen remodel, be sure to consider both what makes the most sense to you as well as what will appeal to most homebuyers in your area. For example, if you live in Virginia Beach, and want to upgrade your countertops, opting for the most valuable trend, quartz, is probably a better option than granite. Someone who specializes in kitchen remodeling can also help you identify regional trends to ensure you make the best possible choice for your home.
(Psst: Here are 4 simple ways you can increase your home's value without a remodel.)
In addition to increasing the value of your home, here are 5 other reasons you should consider remodeling your kitchen.
1. Improved lifestyle and convenience
For most homeowners who are planning on remodeling their kitchen space, convenience can be a primary motivator. If your kitchen can’t meet all of your needs, whether it’s too small or situated in an inconvenient manner, an upgrade is a great decision.
As you move forward with your kitchen remodel, determine what you need out of your kitchen and what is required to fulfill those needs. For example, if you need more space to prep and cook, extending your counter or adding an island might be the ideal solution. On the other hand, if you need more storage, an island or hanging cabinets could help you get the extra room to store your pots, pans, and dry goods. If you’re not sure where to start, speak with local kitchen renovation pros to identify the available options for your current kitchen space.
2. Better design and appearance
Kitchen remodels are often functional, but they can be beautiful, too. Upgrading your kitchen can both expand the area you have for food prep and can become a space you enjoy spending more time in.
If you don’t like the look or feel of your kitchen, a kitchen upgrade can bring your home into the twenty-first century. From counter materials to new cabinets, there are tons of ways to improve the space in your home. Some of the most popular kitchen features we are seeing nationwide include, granite countertops, an eat-in area, stainless steel appliances, and hardwood floors. You can definitely follow your own tastes to create the kitchen of your dreams or enlist the help of a pro to recommend more current trends. Regardless, the right approach to a remodel can guarantee a room that looks amazing and feels great, too.
3. Create additional space
If you’re tired of cooking and cleaning in a small, cramped space, a new kitchen can make all the difference. Renovating your kitchen can maximize the space you have available, making it much easier to cook meals and spend time with family.
Even small homes can be improved with remodeling opportunities. This can include adding things like extra cabinets or even kitchen islands. If space is really tight, taking down walls or expanding storage – like adding a new pantry or cabinets – into bordering rooms can free up storage options in your kitchen in a way that maximizes functionality.
4. Improved technology options
Kitchen technology isn’t a one size fits all option. If your 1980s fridge and old school oven can’t meet your needs, it may be time to upgrade. A customized kitchen remodel can also focus on technology. If you’re looking for higher-tech kitchen solutions, upgrading might be required.
Kitchen appliances come in all shapes and sizes, from fridges with Wi-Fi capabilities to ovens that provide quick preheat functionality and will have you ready to cook within minutes. Upgrading your kitchen with the latest and greatest technology can make cooking and preparing meals faster and easier. Start trawling home improvement stores and working with a kitchen renovation contractor that is knowledgeable in high tech options to help you weigh the pros and cons of each new kitchen appliance. No matter what you have in mind, there’s an option out there ideal for you.
5. Eco-Friendly Upgrades
If climate change or saving money on utilities are concerns for you, your kitchen remodel may be focused on implementing eco-friendly options for more sustainable living.
Appliances that offer great functionality while also reducing waste are available in countless forms, from low-energy refrigerators to microwaves with convection options. Those who want to truly maximize eco-friendly home upgrades may want to go beyond the kitchen alone, but Energy Star appliances can make it much easier to minimize your impact on the environment – and save money.
Getting ready to sell your home? Use our free Home Sale Estimate Calculator to break down the expenses and payoff.
THE BOTTOM LINE
Remodeling a kitchen is never a requirement, but if you plan to sell soon or aren’t completely satisfied with the cooking space in your current home, a remodel is a great opportunity. Partnering with a kitchen remodeling company can ensure you tick every box, giving you access to pros who can identify needs and provide solutions that meet both functional and fashionable options within your budget. Whether you want more space, better tech, or to sell for more, it’s never too late to upgrade your kitchen.
Want more tips for making the most out of your home sale?
This article was originally published on Redfin.com.