Is it worth renovating the kitchen and laundry before selling?
It’s a question worth asking when you are considering selling your home or investment property. Here’s a real life case study to discover if renovating your kitchen and laundry can boost your property value.
When selling your home or investment property, it’s crucial to weigh the benefits of renovating against potential costs. This case study follows one of our clients from Heidelberg Heights Kitchen Renovation as she navigates this decision for her unit.
What are buyers looking for when purchasing a new home?
No surprises here. Top of the priorities is an upgraded kitchen, followed closely by a laundry room.
In this case study our client’s kitchen and laundry were nearly 22 years old and starting to show their age. The cabinetry was dated and the storage not ideal. But, was it worth the hassle of renovating, or should the next owner deal with it? It was time to do some research and crunch the numbers.
How much value would a renovated kitchen and laundry add?
Originally (prior to renovating), our client’s Heidelberg Heights unit was valued at approximately $630K to $650K.
After speaking with agent’s it was clear a kitchen and laundry renovation could add real increase in the sale of the unit, compared to others on the market.
Although the prospect of a renovation prior to sale seemed daunting it was important to evaluate both quality and budget. Our client gathered quotes from 3 kitchen companies and chose Kitchen Shack because of the assembled cabinetry to save installation costs and be up and running quicker for sale. The process seemed a lot easier to manage with pre-assembled cabinetry and recommended installers and trades to complete the job. The Kitchen Shack design, quality, timeline and budget were the winning combinations.
How much did the total renovation cost?
Making the decision to renovate the kitchen and laundry at the same time would tie in the look of the unit and save costs of returning trades, along with the extra mess!
The choice of kitchen and laundry cabinetry in classic White Shaker style would mean more appeal to a wider market, whilst maintaining the interior Hamptons vibe. A popular stone marble-look bench top would keep the look bright and create a sense of space.
The design incorporated a corner pantry in a compact kitchen (that was missing previously) with extra storage and the ever-popular pull-out double bins bringing the kitchen into the modern age. The laundry design also showcased a tall broom cabinetry for hiding the household cleaning appliances.
The estimated renovation costs were:
$12,000 for kitchen, laundry cabinetry, accessories and benchtops
$13,000 for installation rip out and removal, trades, tiling, plumbing, electrical, tapware and stone benchtops.
That’s a total of $25,000 for the kitchen and laundry renovation.
Was the sale price worth the effort?
Absolutely! Renovating the kitchen and laundry with Kitchen Shack was the best decision made.
The final sale price produced an extra $70,000 to the original estimate – that’s a huge win! It’s clear potential buyers will pay for a quality kitchen or laundry renovation.
There’s no doubt that renovating a kitchen before selling can sell your home at a higher price. So if you’re considering a kitchen or laundry makeover before sale or to improve functionality, then you need to check out what we can do for you.
Check out our website then book an appointment to start adding real value to your home.
