Should you remodel before selling your home?
Updated: May 30
Kitchens sell houses. According to the Zillow Group Consumer Housing
Trends Report 2018, 58% of buyers who purchased in the last 12 months said that the style of kitchen in their new or prospective home was very important to them.
The kitchen is the one room that nearly all visitors will spend time in. However, investing in a kitchen remodel may not be the best investment before a move. Unless your kitchen is extremely dated or falling apart, the odds of seeing a 100% return on investment on a remodel is rare. Investing in a mini-facelift may be a better option to compete with other homes in the area.
Remodeling Magazine places kitchen remodels into two categories; minor and major. There are three deciding factors that can help you determine which remodel is right for you if you're planning a move:
Home Value: What is the price point of your home and similar homes in your area? Will the money you spend on your remodel give you a return on your investment?
Local Market: Are buyers in your specific area looking for newer kitchens? Which style(s) are popular? Does the style of your kitchen match the rest of the home?
Budget: How much will you invest in your home before dipping into equity?
Most homeowners would agree that the best remodels are the ones you get to enjoy for a few years before selling. In fact, many people ultimately decide to stay in the homes they've invested in due to low housing inventory.
Let's get back to the original question; Should you remodel your kitchen before selling your home? Ultimately, it's a personal decision that homeowners will need to make for themselves. If you are upgrading to a kitchen that is more desirable to potential buyers, it might be worth the investment.