The Kitchen Appliances That Agents Predict Will Be Must-Haves For Homebuyers
Kitchens are a particularly important feature for homebuyers. They often stand in a central location in the home's overall footprint and act as a heart for the home as a result. A well-designed and functional kitchen can be a major selling point for a property on the market, and aesthetic upgrades will certainly make a huge impact in the current marketplace.
The real estate market remains in a state of quasi-turmoil entering 2023, with interest rates remaining at some of the highest levels since 2002 (via The New York Times). Kitchen features play a significant role in wooing potential buyers during a stable market, and they can make an impact in this climate as well. A kitchen that needs work (in the eyes of a buyer, that is) can be a serious turnoff for those considering the property as a potential new home. While Reuters estimates a reduction in pricing by roughly 5.6% in 2023, total dollar amounts remain high (with median home sales at $428,700 as of July 2022, via The Motley Fool). This means that stylistic or functional upgrades in the kitchen — one of the most expensive renovation projects that homeowners tackle on a routine basis — will come on top of an already bloated asking price.
For sellers looking to make a splash with their listing, making a few changes before attempting to sell the property might be the best course of action.
Stainless steel fixtures
Stainless steel fittings are one of the highest predicted priorities among buyers, according to HomeLight. Forty-four percent of agents note that stainless steel appliances are among some of the most sought-after kitchen additions from homebuyers. Stainless steel appliances are long-lasting and exude quality craftsmanship. Martha Stewart notes that stainless steel wares are scratch and stain resistant (as the name implies), and won't rust or experience damage from heat, water, or other elements that may come into contact with them.
Sustainability Nook also notes that stainless steel cookware and appliances won't experience the same corrosion issues that cast iron or carbon steel suffer from when cooking with lemon and other harsh acids. This means that your stovetop and other stainless steel features are resistant as well to acids — a true staple of the culinary experience.
Stainless steel appliances look beautiful and retain their shine for many years to come. It's, therefore, no surprise that real estate agents are seeing resounding interest in this type of kitchen fixture.
Energy efficiency and smart technology factor heavily into homebuyer thinking
Energy efficiency is another core component that's playing an outsized role in the modern thinking of interested buyers. It has become a serious priority for homeowners as inflation and energy prices continue to balloon. HomeLight notes that 41% of real estate agents list energy efficiency as a key priority for buyers, and 37% highlight smart appliances. Fortunately, there is a dramatic crossover between these types of appliances. Smart technology is featured in the latest versions of refrigerators, freezers, dishwashers, dryers, and more. Similarly, the newest appliances on the market –- and especially those that include these Internet of Things add-ins –- are likely to incorporate better energy efficiency ratings as a standard.
Energy efficiency is a crucial money-saving addition to a household. Even though these appliances will cost a buyer more in the immediate present, over the long run they provide more years of functional use and a reduced energy bill that eventually breaks even and then some (via CNET).
Saving money is an important part of any home's financial picture, and the installation of new appliances that place this priority right at the heart of the property can sweeten the pot for interested buyers in a meaningful way.