Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We are planning to put our condo up for sale in the fall and our goal is to sell it as fast as possible. We were thinking about buying some used stainless appliances to put into our kitchen (we currently have white) in hopes of grabbing a buyer more quickly. Is it worth it?
ETA: We already own a stainless fridge and dishwasher (they aren't in the condo) but would need to buy the stove and microwave (spending around $500 for both). Our asking price would be the same with white or stainless. Our goal would not be to make more money but to sell it as quick as possible.
The condo is in great shape and totally remodeled but we don't have anything spectacular (like granite) to wow buyers.
Last edited by Dorthy; 08-18-2009 at 09:19 PM..
Reason: ETA
I'm pretty sure you would not get 100% return on new appliances , but if you are getting a great deal on used, you might, depending upon your house.
If they would work in your condo (if it's your traditional 1990s/2000s condo building where a lot of people do the standard HGTV granite/stainless/hardwood/dark cabinets upgrades) it might help entice people.
If your decor is more eclectic, such that some people might go a different direction, it might not be worth spending any money on appliances (and thus probably increasing your price), and let the buyer add that on themselves?
ETA: Personally, I'm sort of indifferent on them, I don't think I'd pay more for them. I understand they are de rigeur for the last 10 years "upgraded" HGTV look. And I like that look, but I like other looks too, (like, stainless works in some kitchens, but it wouldn't improve all kitchens, depends on the house), and suspect that particular look will be passe soon, just because trends change, so I'm not sure that I'd spend a lot of money upgrading for someone else who's tastes I don't know. But if your agent tells you it's a must for your condo market, they're probably right.
Personally, I think as long as what you have are in working order and as CLEAN as humanly possible, then save your money.
You would best be served by letting a carefully chosen agent help you regarding this, they should be able to tell you what the expectation are for your specific area and price point. Also, stainless doesn't necessarily grab a buyer- PRICE will...along with general condition/location.
Good luck!
I would say dealing with a condo that it might give you just the edge you need....trying to sell a condo is not like trying to sell a single family home.....Competing with other condos in your neighborhood where all of the floor plans are the same any extra wow you can provide may persuade a buyer to bite on your condo....but don't expect to obtain any extra $$$$ for the upgrades it is just $$$$ you will have to eat as you will still need to be priced in the same range as like condos without the wows. ....The extras are done just in an attempt to move the property faster
Stainless steel isn't easy to clean, contrary to popular belief. Give me an old 1930's splashback sink any day. They add value to a house if they are in good shape. White goes with everything, but suit yourself.
Stainless steel isn't easy to clean, contrary to popular belief. Give me an old 1930's splashback sink any day. They add value to a house if they are in good shape. White goes with everything, but suit yourself.
actually... white appliances don't go with everything... we looked at a home that had beautiful cherry stained cabinets and had white appliances... it looked horrible. They were better off to have black in there or stainless would have been fine as well,but the white was just awful.
People that think SS is some sort of "brand new trend" are clueless.
I think I have stated here before that mother, who is in her 80s, put SS appliances in her home that she built 40 years ago. I can state with 100% certainty that the GE oven and cooktop she choose back then were not much different in features or price or performance than the harvest gold, mocha, avocado or burnt umber/orange models she could have choosen, but sure as heck do NOT scream "totally dated" the way those would.
If you have SS appliance or are contemplating tracking some down I can state with certainty that the number of buyers that will find this appealing will out number by a large percentage those to whom this would not be appealing/ those that would be indifferent.
I will go so far as to say that if you are thinking about spending the $2000 or less that a suite of all new SS from the same manufacturer would cost this is the easiest thing you can do to make your condo look far more timeless. I can say, from experience, that when a buyer sees a whole new suite of appliances in a condo or townhome that immediately puts that unit higher than other similar units that have mismatched appliances/ appliances in any other color. Now if you are in a building that has no other units for sale you are NOT going to be in direct competition, so that is not always a factor. Similarly if you are unlucky enough to have competing units and some one else has completely redone their kitchen that is obviously going to trump simple appliance replacement, but that also probably cost a WHOLE LOT MORE than 20 Benjamins...
I have seen some very very high end condo kitchens that look just gorgeous with a monochrome look that includes cabinets and appliances in white or black or red or blue, but honestly those sorts of things have a pretty limited appeal in all but super luxury markets.
If you have any sort of standard cabinets in wood grain (or something meant to look like wood) or white or grey believe me SS will be the timeless look to use.
Our building is very small, no other units are for sale. The Realtors that I've talked to have had a hard time finding comps because our condo is in a neighborhood of single family homes. The comps that exist are in another neighborhood all together which makes things pretty confusing as far as trying to figure out how to market it. Our neighborhood is one of the most expensive neighborhoods in our city as far as single family homes go but our condo is small and kind of blah from the outside (the inside is very nicely remodeled but nothing spectacular). Looking at the comps in the other neighborhood (not as nice of an area but closer to a trendy area, both are very centrally located in the city) I want to do something to make ours stand out a little more. SS seems like an easy way to give our place the edge it needs to draw in buyers and sell as fast as possible.
Couple of things - you might not recoup the direct cost BUT they may help you sell quicker, which typically means more money in your pocket (less property taxes, quicker end to mortgage payments, utilities, etc.).
Second, you say you're in an expensive neighborhood. Expensive = high end finishes = stainless. (Yes, I know people will disagree. And yes, not everyone likes stainless. But for the majority of buyers - the wow factor of stainless can't be beat. You may not like it - but I can show you 10 buyers for every one of you that will love it.)
Quote:
Originally Posted by yodi
Thanks for the input...keep it coming!
Our building is very small, no other units are for sale. The Realtors that I've talked to have had a hard time finding comps because our condo is in a neighborhood of single family homes. The comps that exist are in another neighborhood all together which makes things pretty confusing as far as trying to figure out how to market it. Our neighborhood is one of the most expensive neighborhoods in our city as far as single family homes go but our condo is small and kind of blah from the outside (the inside is very nicely remodeled but nothing spectacular). Looking at the comps in the other neighborhood (not as nice of an area but closer to a trendy area, both are very centrally located in the city) I want to do something to make ours stand out a little more. SS seems like an easy way to give our place the edge it needs to draw in buyers and sell as fast as possible.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.