Material Matters: Upgrading Your Kitchen for Resale

If you’re planning to sell your house, a kitchen badly in need of updating can make or break a sale. When contemplating a kitchen upgrade, choose kitchen materials for resale value that will appeal to greatest number of potential buyers. Resist the temptation to choose a design that fits only with your own personal style. If your goal is to sell, your money will be better spent if you keep broad appeal and functionality in mind.The same rules apply to your remodel as they do to your new home. You won’t be impressed by a kitchen that has such an individualized design that your style can’t possibly fit. More likely, you’ll choose a new home with a kitchen that makes you say WOW or just needs a little tweaking—for the most part, you can live with the existing design.TimingWhen deciding on kitchen materials for resale value, choose colors and styles that aren’t over-the-top trendy. To what extent and how you change your kitchen depends a lot on when you plan to list your house. If you’re planning to sell in a few years, plan your remodel to fit into the way you use your kitchen now. If you plan to sell right away, make the changes more neutral and functional.Three Top Areas for RemodelsAppliancesCabinetsFlooringAppliances, cabinets, and flooring are the three main areas that potential buyers either embrace or walk away from.Old appliances always make potential buyers want to lower the price of a home. You don’t have to install professional-grade appliances in order to impress prospective buyers, but you can’t go wrong with mid-range stainless steel.The look of kitchen cabinets can make or break a sale. If your cabinets are sorely in need of an upgrade but you can’t quite afford new ones, give them a new look with paint. The trick to painting kitchen cabinets is to do a flawless job. If you do it yourself, make sure you learn how to make it look like a professional job. Nothing screams a DIY project more than paint drips and streaks. Also consider replacing the hardware.If your kitchen needs new flooring but your budget won’t cover hardwood, check out the alternatives. There are less expensive flooring materials that give that hardwood look. Vinyl or porcelain tile are good options that you will enjoy while you’re waiting to sell and are pleasing to potential buyers.Kitchen Materials for Resale ValueThere isn’t a hard-and-fast rule about how much you should spend in order to get a higher percentage return on your investment. You don’t have to break the bank in order to upgrade appliances, cabinets, and flooring. When you remodel with resale in mind, choose materials that will appeal to the largest number of prospective buyers to help increase your return.Updated Kitchens SellAn updated kitchen will increase the likelihood of you getting top-dollar for your home and will decrease the number of days it’s on the market. Even with a limited budget, you can make changes that will appeal to potential buyers, and you will enjoy the changes while you wait for that perfect offer.BIG ROIAre you looking to make a few updates to your home before listing it for sale? Read more about budget-frienly projects with a BIG ROI. Learn More

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Things to Consider When You Inherit a House

Inheriting a house after the passing of a loved one can raise both financial and emotional issues and requires many decisions. You should take your time before deciding what to do. If the inheritance is yours alone, you can live in the house, sell it, or rent it. The decision becomes a little more complicated if you are sharing the inheritance.Financial LiabilitiesDepending on the circumstances of the house and property, you may be responsible for costs such as:Federal and/or state taxesSecond or reverse mortgagesUpgrading and maintenanceTaxes. Inherited property usually has tax implications. State and/or federal taxes can be substantial and may create a financial burden for those who inherit a house.Mortgages. Even though your loved one left you the house with the best of intentions, he or she may have left you with a mortgage as well. Reverse mortgages and refinancing may come as a surprise if you thought the house had been paid off.Upgrading and maintenance. If the house is older, you may have to invest money to upgrade it before you can sell it, rent it, or live in it yourself. If you decide to rent or move in, you’ll have to consider the costs of maintenance, too.Rent, Sell, or Move in?If you live nearby and the house is yours alone, renting might be a good option. Becoming a landlord can be more difficult if you live far away or are sharing the inheritance. You may want to hire a property management company to help you evaluate the condition of the house and to sort through issues surrounding rentals in the area.Selling the house may be the best option if you don’t live nearby or if you are sharing it. Get advice from a trusted real estate professional in the area so you can have the house appraised properly. By selling the house, you’ll be able to pay off any outstanding taxes and/or mortgage.If you’ve inherited the house yourself, moving in might make perfect sense. If you’re sharing the inheritance, you’ll have to iron out the details with the others.The Emotional Aspects of Inheriting a HouseWhen you inherit a house, you don’t just inherit a structure—you inherit all the emotions and sentiments attached to it. Under these circumstances, it can be very difficult to make objective decisions. The hardest part is disposing of the furniture and personal belongings. If you decide to sell the house, everything must be donated, sold, or given to family or friends. This can be very stressful for family members. Everyone attaches different memories to people, places, and things. Now is a good time to be patient and to have open conversations with family members.When you inherit a house, it might be a good idea to seek professional guidance from real estate professionals who understand all the details involved and can think objectively at this difficult time.Know the ValueAre you preparing to sell a home that you've inherited? Sign up for our free home assessment to get the true value. FREE Home Assessment

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