Buyers and renters alike are willing to pay more for well-maintained properties, especially if they include a stellar kitchen space. According to a Realtor.com survey, 80% of homebuyers list the kitchen as one of their top three most important spaces. Those surveyed also reported that they would pay more for additional features like state-of-the-art appliances and new granite countertops. Therefore, an upgraded kitchen is a great way to boost the value of your home. If you want to increase your ROI, you won’t regret making the investment. However, you may be wondering what features are the most valuable (and the most sensible). Let’s take a closer look at what you should include in your upgraded kitchen.
How an Upgraded Kitchen Can Up Your Property Value
Installing Modern Countertops
Standard kitchen countertops always tend to look outdated and lackluster. When potential renters visit your property, they’ll be on the hunt for a modern, elegant look. Whether you select granite or porcelain countertops, a fresh ambiance will pay off in the long run. Today, homeowners and renters are looking for shine and easy-to-clean surfaces that reflect natural light. However, this doesn’t mean you have to spend an exorbitant amount on materials. There are plenty of low-cost laminate options that offer a similar look and limited maintenance options. Remember, you don’t have to reinvent the wheel. The whole idea is to replace old styles and give your kitchen a makeover without killing your budget.
Adding Brand New Appliances
Most appliances should last between 10-15 years. Nevertheless, they might look out of place well before then. If that’s the case, you may want to perform upgrades a little earlier than scheduled. Technology evolves quickly, especially where kitchen appliances are concerned. Flourishes like touchscreen features and energy-efficient options can make all the difference. By displaying the care you’ve put into your upgraded kitchen, prospective tenants and buyers will get a better sense of the home’s quality. Most importantly, they’ll be willing to spend more to enjoy extra perks.
Don’t Forget Details like Sinks and Light Fixtures
There is a great deal of power in small details. Picture yourself walking into an upgraded kitchen space with a farmhouse sink or pendant lighting. Even if the kitchen isn’t as large as you wanted it to be, you may overlook it because the details are exquisite. Best of all, small changes like these aren’t too expensive. Having a mix of older features and newer features brings balance. Furthermore, any upgrades you complete in the kitchen will improve your ROI. If you’re running low on funds, decorative upgrades are your best option. Potential tenants and buyers are willing to deal with standard countertops or original appliances if the property has personality. Homeowners want their kitchens to have plenty of character, and uniqueness generates value.
How All County Denver Metro Can Help
All County Denver Metro Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or information about an upgraded kitchen space, call us today at (720) 575-6100.