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New Appliances: As a home seller, you often have to balance the concerns that adding to or sprucing up your home could boost sales price with the issue that some renovations won’t pay for themselves in the boost you achieve. One area that is mainly in question is whether you should buy new appliances for your home to sell the house. The answer depends greatly on your goals, the current appliances, and the ones you’d be willing to spring for as you sell.
Consider Where Your Current Appliances Rank on Age and Efficiency
The biggest concerns that a homebuyer will express will surround the appliances’ age or efficiency. Older appliances can be more expensive to repair and may contribute to a dated look in the kitchen. So think about the outward appearance and how you’d talk about them to a potential buyer: do they seem to contribute to high water or electricity bills? Do you have trouble with them leaking or needing expensive repairs? Any appliance challenges point toward a higher ROI if you do replace them versus, perhaps, very recently replaced appliances.
Can New Appliances Rejuvenate a Dated Kitchen? Sometimes!
Another option is if you have a nearly neutral kitchen that now looks quite dated because of the appliances themselves. Instead of committing to an expensive kitchen remodel, you might pick some sleek modern appliances that all match and look good with the cabinets and flooring. This can be a less-expensive version of a kitchen remodel that makes the space feel “up to date” without many updates.
If Functional but Older, The ROI May Not Be There
Remember that a home appraiser or inspector will focus on items that don’t work, not so much on items that are a little older. If the dishwasher doesn’t work, it’ll be highly advantageous to go ahead and replace it; the doubts created by a non-functional core appliance are almost worse than not having that appliance. However, if you have functional appliances, your upgrades may only bring home price value if you find a buyer excited about those particular appliances. Otherwise, most buyers will either be happy to have their functional appliances included in the sale or they’ll eventually want to pick out their new set of appliances with good features.
Another consideration to keep in mind is whether your individual real estate agent recommends replacing appliances. For instance, a real estate agent might know that many of the homes in your area are currently selling well with brand-new appliances, and adding that icing on the cake of your home sale could be the difference between 1 or 2 offers versus 4 or 5 offers. This isn’t true in all or even most locations, but an excellent real estate agent makes it their business to know precisely what the current demand is in your particular location. Consulting with them will give you a better context to make the best decision about buying new appliances.