Kitchens Sell

Most people know and appreciate how important the kitchen condition is when it comes to selling a home. However, I wanted to share some statistics to further drive how true this sentiment is. I often share with people that if you are going to invest money for home improvements, the kitchen should be at the top of the list.

Most people know and appreciate how important the kitchen condition is when it comes to selling a home. However, I wanted to share some statistics to further drive how true this sentiment is. I often share with people that if you are going to invest money for home improvements, the kitchen should be at the top of the list.
The data:

• Of all homes listed for sale on realtor.com®, 69% of them tout the kitchen as a selling point in their descriptions, compared to 49% that mention the bedrooms and 21% that mention the living room.
• Homes that include a “killer kitchen” or “luxury kitchen,” as described by the sellers, sell 8% faster than similar-sized homes in the same ZIP code. 

Determining where to invest your money when it comes to making upgrades is equally important. So, let's take a look at some data to help drive that decision.

• Leading the pack is custom cabinetry which provide a ~41% price premium 
• Kitchen islands account for a ~30% price premium difference
• Creative lighting can have a ~21% impact on sale price
• Upgrades countertops such as granite result in ~18% price premium
• The presence of a large pantry can deliver ~14% price premium
• Having stainless-steel appliances are closely behind at ~12% price premium
• Finishing off the wall with tasteful, stylish tile backsplash can positively result in a 7% price premium
• Having a breakfast bar in the kitchen brings up the tail but still delivers a 6% price premium

[Price premium: the % difference between home selling price with the feature versus those without the feature in the same zip code]
For those of you with an generous budget, Chef's Kitchens are also a very growing concept that seem to be highly desirable to buyers. But, what exactly qualifies as a Chef's Kitchen? Wet bars, butler's pantry, double ovens, wine fridge, commercial appliances, 6-burner cook top, specialty fridge, ice maker, microwave or warming drawer are just a few examples. We are also seeing many more unique appliances starting to take hold such as blast chillers (immediate cooling devices), wood-fired oven, hibachi style cook tops, walk-in refrigerators just to name a few.

Data provided by realtor.com®