UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next
Author: YewGuise Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127715  
Subject: Re: Poll: new kitchen to sell house Date: 10/10/2013 11:23 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
Agent you're planning to use has good advice. Follow it. In particular, given her experience with renovations, she can probably recommend both products and contractors, saving you time & money.

My own kitchen serves me well, as it has for 20+ years, including when we were a family of 4 (we're empty nesters now), so my feeling was that if we were to sell, the kitchen that's been fine for us will be fine for buyers. Wrong. A very successful agent was kind enough to visit a couple of years ago, look at it with fresh eyes, and give us her unbiased opinion, which was:
- Nobody buying in this neighborhood wants vintage 50's cabinets with laminate countertops.
- Most buyers want move-in ready, and will not even consider the house with its existing kitchen, regardless of price discount.
- Buyers think a new kitchen will cost $100k, and those few who do make offers will discount their offers accordingly.
- In fact, a very nice new kitchen would be only $50k. So spend the $50k to avoid the $100k haircut. Don't spend too much; it's easy to go overboard.
- A kitchen specialty place will be too expensive; use a general contractor or handyman (she had one she recommended).

(For a $350k house, my guess is you can halve the $50k/$100k numbers above.)

A crappy kitchen is great for buyers, but bad for sellers.

FYI, we're in the process of renovating our kitchen now. We're going overboard (changing floorplan, cabinets, everything, despite the Realtor's advice), and it will be fabulous. So if we sell in a year or two, it'll sell quickly because kitchen will be new & fabulous. If we stay 20 years, we'll have the use of it for that time, and the next renovation (assuming styles will change in 20 years, which is probably a safe assumption) will just be a facelift.

Good luck!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Apple

Wal-Mart Nixes Apple Pay
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement