Only a handful of Realtors will suggest sellers complete a complete kitchen remodel before attempting to sell, and If you take a look at buyers today, a majority of them especially women will make a decision to buy or not to buy based on the condition of the kitchen and Bath. A study done by NAR and NARI in the U.S finds that • 11% of homeowners cited the kitchen as giving them the most enjoyment in their home. • 24% said if they have $25,000 to update or remodel, they would do a kitchen remodel first.
Complete Kitchen Renovation
• NARI Remodelers’ cost estimate: $60,000. • REALTORS®’ estimated cost recovered: $40,000. • Percent of value recovered from the project: 67%.
• NARI Remodelers’ cost estimate: $30,000. • REALTORS®’ estimated cost recovered: $20,000. • Percent of value recovered from the project: 67%.
Top Reason for Completing the Project:
• 49% better function and livability •35% upgrade worn-out surfaces, finishes, and materials. • 19% to modernize
Consumers’ Viewpoint after Completing the Project:
• 90% said they have a greater desire to be home since completing the project, • 86% have an increased sense of enjoyment when they are at home, and •93% feel a major sense of accomplishment when they think of the project.