When you’re working to flip a home, there are many different things to consider. Adding new kitchen appliances can be one of them. The question is whether or not it’s worth the cost. The answer is typically yes, but only in certain situations. Here are a few ways to decide if they’re right for your situation.
A new dishwasher and refrigerator may seem like a lot of money to spend on a flip, but they can actually be an excellent investment. Whether or not you should splurge on appliances is an important decision to make, and one that should really depend on your particular real estate market, budget and target audience. For instance, if you’re trying to sell to first-time buyers or middle-income families, splurging on a brand-new dishwasher and refrigerator could be the smart move. However, if you’re looking to attract affluent homeowners or investors, the wisest choice might be to repair rather than replace existing appliances. Ultimately, the best answer to the question of whether or not you should put new kitchen appliances in your flip is to do some research and ask your local real estate agent for guidance.
According to data from Consumer Reports, remodeled kitchens can boost home values by 3% to 7%. That said, not every remodeled kitchen will add that much in value. Your return may also depend on how old your appliances are, and whether or not they are in good condition. If they are a decade or more old, it may not be worth the investment to replace them before selling. Alternatively, if you are looking for an upgrade in terms of aesthetics or resale value, it could be worthwhile to spend the money on new kitchen appliances. But that’s a decision that should be made in the context of your local market. Consider talking with the professionals at RN Home Improvements and Repair to determine what’s best for your situation.
Categorised in: Home Remodeling