The Kitchen Mistake That Could Hurt Your Home's Resale Value, According To HGTV
As far as design choices go, cohesion is king. Interior designers told HGTV that a big design ick is a mismatched kitchen. Sure, you may buy new kitchen appliances as you need them, but having similar pieces is important when it comes time to sell. Potential homebuyers don't want a mix of white and stainless steel finishes or wildly outdated kitchen appliances beside brand-new ones.
New appliances can be a big resale booster when purchased wisely. In fact, new kitchen appliances could add nearly 10% to your home's value, making the coordination of style, age, and brand totally worth it. Even if matching brands isn't an absolute necessity for maintaining a home's value, being loyal to a particular brand can be helpful since sometimes you can get a good deal if you're buying multiple items at once.
"LG offers year-round promotions at retail on kitchen packages, so there is certainly a cost benefit," Taryn Brucia, director of public relations at LG Electronics, told digitaltrends. "We see consumers certainly prefer a kitchen from one manufacturer — especially when buying or remodeling a home. That's even truer now with unique finishes like matte black and black stainless steel."
Be practical in appliance purchases
Your kitchen gets a lot of face time. When you're preparing to sell, it's important to consider the choices you've made to suit your life and whether or not those kitchen-style choices are well-suited for buyers. It should come as no surprise that appliances can make significant impacts on a home's value. This is not to say that you should just get the most professional-grade options out there. These choices need to be practical and targeted to the buyers you're hoping to find.
Practicality is key, especially if you are selling a home suited to middle-class buyers. "First-time [homebuyers] are often looking at cheaper homes and have less liquid cash on hand," real estate agent and Clever CEO Ben Mizes told List with Clever. "Including well-functioning appliances doesn't just make your home more appealing — it could be a make-or-break for them." If the kitchen appliances are over a decade old, consider replacing them. You don't need to spend a fortune; new appliances are already an upgrade.
Consider cost benefits in appliances
When you're preparing to sell your home, you want to get the most money that you reasonably can. One way homeowners can kick themselves is by putting too much money into appliances in the hopes that it adds to their bottom line. This is a risk appraisal expert Leslie Sellers told HGTV is not a gamble worth making. "You end up spending too much and don't recoup the costs when you sell," Sellers said. "You don't need to go above and beyond, unless you're in the high-end market."
The fact is, many homeowners are selling in a market where buyers don't necessarily need or want Thermador or Miele luxury home appliances. Instead of focusing on the monetary value of kitchen appliances, consider other elements that may attract buyers. Chances are they are more interested in energy efficiency and aesthetics than the logo or brand name. If you need an easy route to follow, remember that stainless steel has been the most popular appliance finish for a long time. When in doubt, go the safe route.