First Rule of “For Sale” Home Prep: Consistency
Fellow blogger and Twin Cities Realtor Teresa Boardman has a nice piece explaining why Kitchen remodels can backfire on would-be home sellers.
See, “Kitchen Remodels That Hurt Resale.”
In addition to Boardman’s two reasons, I’ve got two more:
One. The owner did a great job remodeling the Kitchen — but that’s all.
So, Buyers’ focus inevitably shifts to the fortune (and time) remaining to be spent on the un-updated mechanicals, Bath’s, windows, exterior siding, flooring and wall covering, roof, etc.
No Good Deed Goes Unpunished — Home Seller Edition
One of my favorite real estate anecdotes is about a Realtor cum home seller who (unwisely) listened to colleagues’ advice on his in-progress Kitchen remodel.
“The new counters look great — but now the cabinets look dated,” was what he was told first.
After adding new cabinets, the agent’s well-intentioned colleagues then said, “Great job on the cabinets! However, now you’ve really got to do something about those ancient appliances.”
And so on and so on in this fashion.
New Wine in Old Bottles (and Other Remodeling Mistakes)
Finally, more than $50k later, the agent’s new Kitchen was undeniably a showcase.
The feedback then?
“The Kitchen’s gorgeous . . . too bad the rest of the house is a disaster.”
Putting a Maserati Engine in a Chevy Chassis
The second way a Kitchen remodel can backfire — at least when it comes to resale — is really just a subset of the “make everything consistent” dictum.
Specifically, it’s when the home owner does the equivalent of putting a Maserati engine in a Chevy Chassis.
Namely, they plunk down $25k on a six-burner, stainless steel Wolf stove or $15k on a high-end, recessed Subzero refrigerator . . . in a home that’s worth under $500k.
Unh-unh.
The home’s next owner may certainly appreciate such over-the-top upgrades.
But they most certainly ain’t going to pay for ’em.
P.S.: Money aside, it’s also the case that a first-class Kitchen remodel can take 3-4 months — hardly something that would-be Sellers want to focus on.
