40 is the new 30, 50 is the new 35 and 30 is the new 20… Well, kitchens are the new living rooms and hang out area! This is why kitchens are so important these days when selling your place.
With the new open concept taking full control of new buildings it’s no surprise that the kitchen has become the hot spot of the home. The kitchen is where we gather to eat; where we gather to chat; where we socialize; where we interact. Who sits on a couch these days?! It really does not matter where you start your socializing you know you will end up in the kitchen eventually!
This is why renovating your kitchen is extremely important. Besides, that is where the booze normally is as well…
Is a kitchen reno an investment?
If you plan on enjoying your renovations for a few years before selling go right ahead and start on them. If you are looking to renovate and sell immediately then we should talk. We may want to strategize on what exactly you are going to do and how much it is going to cost.
The problem with renovating to sell right away is you just won’t see that return on investment. If you plan on enjoying it for a few years you will see much more benefit.
Think of it this way. If you put $50,000 into your kitchen do you really think you will get that back? Does it instantly increase your condo or homes value by $50,000? The answer is no.
In order to avoid costly and tedious renovations here are some tips to help make your kitchen show and feel much more desirable without breaking the bank
Flooring
Now don’t go buying the most expensive tile money can buy. The beauty about kitchen floors is that they’re usually smaller in square footage so you don’t have to spend too much. Sample a lot and make sure you pick the right fit as this can really highlight your kitchen and make it pop.
Want some more info on flooring and the different types you can invest in? Check out our blog post here: laminate vs. hardwood.
Painting
Paint is the easiest (if you pay someone) and most cost effective for every area of your place. So liven it up a little! It will make buyers feel like they are getting a newer homer, it will show a thousand times better and adds some life to it. Don’t go all crazy with reds and greens but do get a little original.
Faucets – Get some new ones!
This is another simple quick fix and all you need is Youtube to change them (Don’t blame me for any mishaps). Again, don’t import some Italian handcrafted designer faucets but just add a new one that is a bit more modern and not leaking.
Similar to the rest of your home/condo – Keep It Clean!
No, this is not a renovation but I do need to say this for every aspect of selling. Keep it clean and you will reap the benefits. Some people just can’t cut through the clutter and mess like you and I can so keep that in mind when preparing to list and have your condo shown.
Long story short; If you plan on doing a massive renovation, do it when you first move in. Not right before you sell. That way, you can enjoy the new kitchen and see some value when it comes time to sell.
For more information on real estate market in Vancouver, current trends, buying a home or selling a home, contact Leo Wilk – Your Top Vancouver Realtor.
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