Some not so great kitchen renovations 

Most people that are considering listing their homes know it’s a seller’s market. Several home values have been sky rocking these days, and homeownership is proving to be quite the investment. A lot of people know kitchen renovations can be one of the most beneficial investments in earning top dollar for your home. With it being spring selling season, it can be traditionally the busiest time of year for real estate. In a market like this, with wildly competitive open houses, sky-high prices, and ever-escalating offers. I get it, why not add an extra touch to make your home stand out even more? An updated kitchen is a huge selling point to a buyer’s eye. But consider this, not all types of kitchen updates can be good. So, while you are planning for updates for your kitchen to attract a home buyer, remember to focus on the updates that help you versus hurt your home value. 

The kitchen is usually one of the first rooms people choose to renovate. And since it’s the center for food preparation and a social hub for entertaining, it can often be considered as the heart of the home.  

Go Banking Rates says it best, they mention the ten kitchen renovations that will hurt your home’s value. One of them being choosing to overly customize your kitchen:

“Just because you spent countless thousands of dollars on decorative ideas that you have dreamed about since you were a little kid doesn’t mean that anybody else will have the same tastes nor will most people care about what you spent.... So don’t drive yourself into debt or go overboard because the whole point of upgrading your home should be to get the money back when you sell and ultimately more.”

 

Home renovations that are not benefiting your home value

Another big one is using low quality materials, the last thing you want is the have your work fall apart just so you can save a few bucks and not spend the money on quality products. 

“The last thing you want to do if you sell your home a few years later is to have to replace all the kitchen cabinets because they are falling apart. Or another issue I have seen is people using marble in their kitchen. Marble can create problems because it easily chips, stains, and etches.”

Preparing your home for sale is essential to capturing the highest offer, fastest. Simple steps like fresh paint before an open house can increase offer amounts by 10% versus homes with no work done. So, something like excessive wallpaper in a place like your kitchen can also be a huge issue. Wallpaper is known to be very difficult to remove and could very well turn off buyers with its patterns and textures. One of the most common and beneficial things to do is just add a fresh coat of paint and stick to your neutral colors so to appeal to most buyers. 

Yes, there are people who like bold colors and dramatic wallpaper as much as you do, but sometimes the best choice when selling a home is sticking to neutral paint colors. Remember, the goal is to attract buyers, not turn them off. In fact, if you want to sell a home the fastest way, UpNest talks about which color someone should choose, like neutrals 

The best colors are neutrals, but which one? For 2021, the general consensus for best interior paint colors for selling a house are shades of greige. Greige is a combination of gray and beige, more sophisticated than an old-fashioned beige and at the same time more welcoming than a somber gray. 

 

What are home buyers looking for?

Go Banking Rates goes on to mention a few other mistakes homeowners and home sellers need to avoid doing. 

Are you thinking high-end appliances is automatically a good thing? If yes, unfortunately you are incorrect. 

Installing appliances and electronics that are expensive and borderline luxurious may seem like a good idea but can actually hurt your home’s value, according to Kim Abrams, CEO of Abrams Roofing. “These appliances are much more expensive to maintain and repair, which will deter buyers from your home.” 

Additionally, according to real estate consultant Will Rodgers, “Smart appliances are great. But keep in mind that the tech you put in today will be outdated if you sell three to five years from now. High tech kitchens are for your convenience, but will only add value if you plan to sell soon.” 

Go banking goes on to talk about a few other things like DIY repairs, DIY plumbing and even out-of-style trends. A good example that they use that is out of style is oak cabinets and tile countertops. "Oak was popular in the 80s and 90s–today it’s very much out of favor. Most home buyers either want white as their first choice, with a cherry or birch also being desirable.”

What Are Some Decorating Mistakes When Listing Your Home?

Whatever you do, don’t sacrificing storage space. Ryan Weller, a realtor with Beth & Ryan Real Estate Team, said a common kitchen renovation failure is “…sellers who remove two kitchen walls to have a more open concept feel. However, what they fail to realize is that those walls they removed served as functional storage space with cabinets. Savvy buyers–or those who like to cook–will walk away from a house like this.”

Maybe bring in a contractor that can help you come up with some options to add more cabinets if do choose to knock down some walls to create that open space you desire. 

These are all some great tips on how to renovate your kitchen and avoid making common mistakes that a lot of people make. Consider talking to a real estate agent, so to get an opinion on what a lot of home buyers are looking for. After all, they spend loads of time with buyers and go out of there way to make sure they are listening to there needs and wants. A real estate agent is often a great resource in finding out how to get your home ready for the market and attract the most buyers.

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