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  #1  
Old 2011-10-07, 12:19 PM
ginkybiloba ginkybiloba is offline
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Default Should we renovate kitchen in preparation to sell?

Our house is only 7 years old, but I find our kitchen already looks quite dated. We spent money on other upgrades, including a pie-shaped lot, that we couldn't do after the fact. We have cream coloured melamine cabinets and laminate counters. We will be pricing our house in the $650k range: it is 5 bedrooms, 4 baths, just over 4000 sq. feet (including finished basement with in-law suite). We are debating whether to:

1) leave the kitchen as is, and list for $10,000 lower than the comparables
2) leave the kitchen as is, price similarly to the comparables, and offer a $10,000 "design bonus" on closing so that the buyer can pick the kitchen they want
3) purchase new cabinets and better-quality laminate countertops (around $11,000) or
4) purchase new cabinets and install granite (around $15,000).

We struggle with choosing new cabinets since we have hardwood flooring in the kitchen and I worry that wood cabinets will either look too matchy-matchy, or clash.

Thanks in advance for any advice!
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  #2  
Old 2011-10-07, 12:33 PM
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good2know good2know is offline
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pictures please or a link to your ad ....
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  #3  
Old 2011-10-07, 12:56 PM
Jenny1975 Jenny1975 is offline
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Quote:
Originally Posted by ginkybiloba View Post
1) leave the kitchen as is, and list for $10,000 lower than the comparables
2) leave the kitchen as is, price similarly to the comparables, and offer a $10,000 "design bonus" on closing so that the buyer can pick the kitchen they want
3) purchase new cabinets and better-quality laminate countertops (around $11,000) or
4) purchase new cabinets and install granite (around $15,000).
My $0.02:

Go with either option #1 or #2.

With #3 or #4, you likely won't recoup the cost in your selling price. My understanding is that in general, best case scenario is that you might recoup about 75% of your investment on a kitchen or bathroom reno. Plus, you run the risk that whatever you select won't appeal to potential buyers.
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Old 2011-10-07, 01:26 PM
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good2know good2know is offline
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not sure where you are and what $650 gets ...

you want the kitchen to be the showpiece / deal maker

investing $35 to do that (< 5% of the 'package') is worth it
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  #5  
Old 2011-10-07, 02:36 PM
LB1 LB1 is offline
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What does your RE agent say?

I would overlook the kitchen for the lot and space. I wouldn't want a new kitchen that is not to my taste and then feel like it is a waste if I want to replace it

A lot depends on comparables. Good luck!!!
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Old 2011-10-07, 03:07 PM
jeffjc jeffjc is offline
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I wouldn't spend a dime renovating it to sell. Who knows what your tastes are compared to the new peoples. Who knows if the new people will want to do a complete re-do of the kitchen, with new tile, appliances, etc. Say they want a customer hood vent, or wider fridge. You won't get the $ out of it if you do. Best to sell as is and offer an incentive if you feel its needed.
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Old 2011-10-07, 06:49 PM
ginkybiloba ginkybiloba is offline
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Sorry, should have mentioned that we live in Ottawa (Findlay Creek). We have no real estate listing yet - we won't be listing until the spring.

I will try and link to an album with the pictures:

https://picasaweb.google.com/1083230...eat=directlink
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  #8  
Old 2011-10-07, 07:14 PM
jeffjc jeffjc is offline
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Quote:
Originally Posted by ginkybiloba View Post
Sorry, should have mentioned that we live in Ottawa (Findlay Creek). We have no real estate listing yet - we won't be listing until the spring.

I will try and link to an album with the pictures:

https://picasaweb.google.com/1083230...eat=directlink
Looks pretty nice to me and not really dated at all
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  #9  
Old 2011-10-07, 07:54 PM
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I agree - maybe add crown on the cabinets but thats all.

I would make no reference to it or price adjustment in the listing at all.

Option 5
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  #10  
Old 2011-10-07, 08:54 PM
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Ditto, looks fine. I wouldn't offer anything or list below market to acknowledge that you don't like the kitchen.

You can talk to RE agents well in advance of listing. They can help you prepare your house
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