substantial investment. The key is to consider mass appeal for the sake of resale value. Maritz Research Staging Polls found that “79 percent of buyers indicated they would be willing to pay a premium for a home with an updated kitchen.” Some statistics rate this preference as high as 100 percent! One home owner decided to add a backsplash and more cabinet space in the kitchen. They also updated the appliances and refinished the oak flooring. Total cost: $4,000. The seller kept the price comparable to sales in the area and ended up selling for $27,000 more than the asking price because buyers started a bidding war. “Bathroom renovations may net you 75–100 percent return on your dollar,” according to The Appraisal Institute of Canada. “Kitchen renovations may net you 50–75 percent return on your dollar.” You don’t need to bust your budget to sell your home, but you do want to create mass appeal. Kitchens are pivotal in- home appeal. Think about what can be done to your kitchen and bath to impress buyers—without losing ROI.
GIVING YOUR KITCHEN THE "WOW" FACTOR:
• Paint neutral colors. • Add a new backsplash. • Install new countertops to replace dated, scratched, or unattractive counters.
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