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We were talking to a real estate lady and she told us that she tells all of her clients that kitchens and bathrooms sell houses because if you think about it , those are important rooms in the house . I had never heard that before . What do you all think ?
They're both the most used rooms in the house and everyone wants them to be sparkling and updated. no one wants a stained bath or a kitchen with worn, burnt or cut countertops and outdated non-efficient appliances and many will walk away or offer less.
If the OP "hasn't heard this before" I can only assume:
They have not bought or sold a home in the past two decades
They have no access to TV shows on the HGTV, DIY, or PBS networks like "This Old House", Rehab Addict, Flip or Flop, Hometime, FixerUpper, etc
They have not talked socially with friends , coworkers they may have shopped for a house
They lived in apartments
The desire for homebuyers to have attractive and functional KITCHENS AND BATHS is a huge part of why there are so many option to update / renovate these rooms. The cost per sq ft of such make-overs is quite high but on a "bang for the buck" basis such expenditures tend to retain value when current owners get 5-10 years out of a remodel and then decide to sell. Costly renovations of these rooms may spend the sale of homes that might otherwise linger on the market but depending on local market preferences and the seller's familiarity of how to control costs such an effort may not be preferable to selling at a lower price to a "flipper" that probably knows the tricks of how to make such changes cost effectively...
Location: Stuck on the East Coast, hoping to head West
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I have heard this. I think it's very important for first-time buyers. I'm an experienced buyer and I value location, structural integrity, and functionality over updated kitchen or baths.
I really don't get the hang up about appliances. They have a relatively short lifespan and you're going to be replacing them anyway. I'd be far more concerned about the roof/plumbing/electrical condition.
She is absolutely correct! If you have not updated these rooms in your home, you cannot expect the same price for home as one that has a beautifully updated kitchen/bathroom. The value will be reduced.
depends.. for instance, if an agent suggests your home price is $300k while comps are $350k because your home isn't as updated as the others in the block, and it costs $50k to remodel your kitchen and 3 bathrooms, then you make the about the same net either way cos you'll be in the hole $50k doing a renovation. however, if you want it to move FAST, it does makes more sense to do an upgrade in most starter homes, because first time home owners want a turnkey transaction with no additional work. flipside is this, why do realtors want you to remodel? cos they get a quick transaction AND they get a higher commission off the higher sale price, so think about that!
now, if you're dealing with a million+ dollar home on 1-2 acres, with a beautiful structure, but has some outdated cabinetry and wallpaper, i wouldn't update it. the folks looking to buy this type of home are looking at the bigger picture, are much more savvy in terms of renovations and most likely don't like any stock renovations you put in. many people who buy million dollar homes will tear apart what you've done anyway to make it their own. i would only update a luxury home if planning to enjoy it yourself for next 10 years. people should be doing that anyhow.
As others have noted they catch people's eyes because they are the hardest to change. If you look at a bedroom or living room and the colors are atrocious - you change them. And the furniture isn't staying anyway. Kitchen and bath? You're stuck with counters, cabinets, tile and appliances unless you want to do a very expensive renovation.
I've remodeled a couple of small baths - the price wasn't horrible. I don't spend a lot of unnecessary time in there though, I'm a get in and get it done kind, lol
I'd agree that kitchens are a sticking point for me though. I have a young daughter and we spend a lot of time cooking, baking and crafting together. A decent size island or L shaped counter where we can work together is a must for me. I also like to stock up and shop the military's commissary so a need a decent size pantry.
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