5 Kitchen Renovations with Big Returns
When it comes to selling expired listings in Manhattan, you have to think about potential necessary upgrades. One place to start is the kitchen. The kitchen is the hub of most homes, so money you spend on kitchen renovations is sure to make an impact. And when selling homes (and especially expired listings), the goal is to get as much bang for your buck as possible. Keep reading for some great kitchen projects to help you maximize your ROI.
1. Upgrade appliances
Start with replacing old and outdated appliances, especially anything that’s faulty. Yes, it might cost a good amount up front, but these upgrades really attract potential buyers to the home. You’re more likely to get good offers coming in with shiny, new appliances. And the more smart features they have, the better. Buyers now with the last couple years of COVID-19 are more likely than ever to want the bells and whistles in the kitchen.
2. Update cabinets
For this task, you’ll first need to assess if the property requires a full cabinet overhaul. If the cabinets are in good working order, simply apply a fresh coat of paint and change out the hardware. This will update the cabinets and give them a sleek new look without dipping too far into the seller’s wallets. If the cabinets are falling apart or so outdated even fresh paint won’t cut it, consider replacing them. Again, yes it might be costly up front, but the ROI will be worth it. If the kitchen and its counters are dilapidated or simply ugly, it could be contributing to why the listing expired.
3. Redo countertops
While this is a larger renovation, this upgrade really packs a punch. Change out the old and chipping and dated countertops to something sleek and modern. This instantly ups the sale price of the home and gives buyers something to remember. They will be dreaming about those quartz, granite or butcherblock counters for days – and that’s what you want!
4. Assess the sink
If the sink is in less than optimal shape, consider replacing it. You might need to advise the sellers to change out the whole sink if there’s just too much grime, staining or chipping altogether. If you only need a smaller update, simply change out the faucet for an instant face-lift.
5. Consider the floors
Because wood floors in the kitchen are so popular, this investment could offer a great ROI. Splurging for new flooring will definitely pay off. Wood floors offer a timeless charm, clean up easily and also go with many styles of countertops, cabinetry and appliances. Many buyers have wood floors in the kitchen high on their list of must-haves in a new home.
Keep these 5 kitchen upgrades in mind when talking to expired listings about how to best sell their properties in NYC. And always push for the renovations that will maximize sellers’ return on investments.
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