Major appliances are one of the first things a buyer looks for when viewing potential properties; they are also one of the first things potential sellers ask if they should invest in before selling.
Nothing finishes off the kitchen like a beautiful set of new, major appliances, and stainless steel continues to be at the top of home buyers’ wish lists. But before you rush out to upgrade think about these 3 simple tips to maximize return on your appliance investment.
What is the price range of your target home buyers?
If you have a small starter condo with simple finishes, attracting a starter or mid-range first time buyers you probably will not get the return on investment if you go with a top of the line commercial grade range. Think of your potential buyer. To give them a feeling of value go one step better than what they might select for themselves.
What type of buyers will your home attract?
For example, a 3 bedroom 2 story town home will likely attract a family. Replacing a standard stacking washer and dryer with a large tub energy efficient front loading set would be very appealing and a strong selling feature for busy families. Think about the people that will be viewing your home. What do they look for to make the job appliances do easier?
Are there other renovations that will give a better return than major appliances?
If you are planning to sell there may be other renovations to prioritize that will give you a better return on investment than new appliances. A fresh coat of paint, dollar for dollar, will always outperform a new set of appliances – and it might be a lower initial investment as well.
Wondering what might be the best way to go when replacing appliances? Get in touch today for a plan on how to maximize your return on investment.