One of the biggest issues that I see in the Sales market and the Rental market is the owners hesitation to update their property and not investing money into the sale/rental of their home. It’s time to step it up and heres why. In today’s market, people are gravitating to updated condo’s and renovated Rentals. It’s really amazing to see how poorly old appliances can affect the showing and marketability of your listing, and if your listing is not moving, you need to be creative. Today’s market is really competitive and it takes a little initiative and action to make your property stand out over the next one. I understand that sellers and landlords dont like to dump a ton of money into a rental or a property they are about to sell, but there are a few options that wont break the bank. The other day, Steve Sheinkopf of Yale Appliance wrote a blog about keeping the prices down in this economy and you really don’t need to break the bank to do some much needed updates. In most cases, you can also get more rental money for a new appliances so there is a good chance you can gain your money back at the end of the year. Remember landlords, warranties come with new appliances and will reduce your headaches if/when your older appliances conk out on you.
Here is a package that you can get at Yale appliance for under $1700. view the actual package here
If you are selling a place, it may be a little different. It really depends on what price your home is listed at and how old the entire kitchen is. If you are selling a 1.5 million dollar home, I don’t suggest putting in a $1700 kitchen package. Your buyers will be looking for high end appliances like Viking, Thermadore and Sub Zero. Its like putting a new Honda engine in a classic Porsche, although there is nothing wrong with Honda, you just need to match the product correctly in order to sell, because that is what the buyer is looking for.
Lastly, if your kitchen is laminate this, pink and blue that, I’d also consider replacing the cabinets and countertops because you don’t want to have contrasting decades Make it match, put in the effort and hopefully you can reap the benefits by doing the work and pricing your property right!