Across the nation, house prices, overall, are still at all-time lows. The industry is seeing signs of picking up in some regions, however, hinting at the potential for an widespread upswing in the near future. For instance, it was recently reported that Western Washington housing prices were stabilizing and that Lehigh Valley, Pennsylvania, housing prices were leveling off. What can homeowners who are looking to sell their homes do to maximize their selling prices in this down economy? It all starts in the kitchen.
According to a recent The Salt Lake Tribune article titled Kitchen Remodeling Los Angeles “Selling your house? Spruce up the kitchen,” a kitchen remodel is “the advice of vendors at 33rd annual home improvement show.” The event of which the article speaks is the Home Remodeling & Redecorating Show in Sandy, Utah.
One expert cited in the article pointed out that “kitchen improvements are most likely to make an impression on prospective home buyers,” thereby driving up the price they are willing to pay. Another source asserted, “The kitchen and master bath are what are going to move the house.”
Sure, remodeling the kitchen can be an expensive proposition, but it can also reward the homeowner with a great return on investment. If you’re in the market to sell your home and your kitchen isn’t up to snuff, a kitchen remodel might just pay for itself and more by getting your home off the market more quickly and onto the radar of buyers with higher-priced mortgage approvals.