Kitchens Sell Houses

Jan. 30, 2023 | Written by: Mike Federau

The kitchen is the heart of a home.

This is where meals are made, families eat together, and all the hustle and bustle of the holidays happens. So it may come as no surprise that the kitchen is one of the top places to update when selling your home.

When you update your kitchen, you'll get more of your investment back when you sell the home. On average, sellers get back 70 or 80 percent of the cost of the updates. The updates you choose do matter, though, so here are a few things to focus on.

  1. Paint
    There's no better way to brighten your kitchen than a fresh coat of paint. Stick to light neutral shades to keep the kitchen bright and leave room for buyers to envision their own color schemes and decor. Think beyond white to shades of cream, beige, and tan. If your cabinets are in good condition, a few coats of paint and a change of hardware can give them a whole new look.

  2. Cabinetry
    Nothing makes a kitchen look dated faster than old cabinetry. If the cabinets aren't in good enough condition to be repainted, you can give them a major facelift by refacing them. Completely new cabinetry should be a last resort, as the added expense may not be reflected in the returns.

  3. Appliances
    One of the top things to update when selling your home is your kitchen appliances. A full set of new, matching appliances is a strong selling point in any home. Opt for something neutral--stainless steel is always popular with buyers. Energy Star appliances can turn some heads, especially with younger buyers, who tend to be more energy conscious.

  4. Granite
    Granite is another kitchen upgrade that you're likely to see a high return on when selling your home. Buyers love seeing granite countertops. You don't necessarily need to upgrade with the most expensive options. You can always opt for something that looks similar to granite, like quartz with a granite pattern.

  5. Flooring
    Think of your kitchen floor as setting the stage for impressing potential buyers. Drab or dated flooring can detract from any other updates you might make in the kitchen. Budget permitting, install high-quality flooring that will turn people's heads, like attractive, high-quality tile. Want to make your kitchen look bigger? Set the tile on the diagonal to create a space-stretching optical illusion. Hardwood is another favorite with buyers, even in kitchens. If you have hardwood underneath your linoleum, consider uncovering it and having it refinished.

Make a Strong Impression

The kitchen is possibly your best chance to impress potential buyers, not to mention one of the few areas of your home where your investment gets the biggest return. Even so, you'll want to do it right for maximum impact. While updating these five areas, make sure you're staying true to your home's character, architecture, and neighborhood. If you need help deciding what updates to make, your real estate agent can help guide your decisions.

Mortgage rates increased slightly this week after rallying lower to start the year. The Federal Reserve is looking to increase interest rates at their next meeting on Tuesday and Wednesday. Expectations are that they raise the Fed Funds rate by 0.25%, which mostly impacts short-term loans and does not directly impact mortgage rates.
The Fed Chairman is expected to give guidance on Wednesday that they expect they will continue to raise rates at a slower pace and keep rates higher for longer. We expect something close to this to happen. The thing to remember is that the Fed can be wrong in their forecasts, as they kept rates too low in 2021. Now they have been playing catch-up with ultra-aggressive rate hikes in 2022, I believe the Fed would like to keep rates at these high levels to make sure that inflation comes down.
Having interest rates at levels this high weigh down the economy and we have already seen weaker than expected spending data from consumers in January, along with inflation coming down the last several months. The reason the Fed has not declared victory on inflation is that the labor market is still very tight with the unemployment rate below 4%. A tight labor market will keep wages high and may keep inflation higher than the Fed wants.
Before the Fed slows down and declares victory on inflation, the labor market will need to loosen up a bit. When this will happen is the question that I think about, along with the rest of investors and traders. For the time being rates are in a state of uncertainty as the market waits to see if the Fed is right and we will have rates higher for longer, or if the economy cannot handle the high rates and we see a sharp economic slowdown.
•Mortgage Applications rose 7.0% this week
•New Home Sales for December came in above analysts' expectations (616k vs expectations of 612k) and is up 2.3% m/m
•GDP for Q4 came in above analysts' expectations (2.9% q/q vs expectations of 2.6% q/q)
•Durable Goods Orders came in higher than analysts' expectations (5.6% m/m vs expectations of 2.5% m/m)
•Initial Jobless claims came in under analysts' expectations (186k vs expectations of 205k)
•US 10-year Treasury closed at 3.50% on Thursday afternoon
Mortgage rates increased slightly this week after rallying lower to start the year. The Federal Reserve is looking to increase interest rates at their next meeting on Tuesday and Wednesday. Expectations are that they raise the Fed Funds rate by 0.25%, which mostly impacts short-term loans and does not directly impact mortgage rates.
The Fed Chairman is expected to give guidance on Wednesday that they expect they will continue to raise rates at a slower pace and keep rates higher for longer. We expect something close to this to happen. The thing to remember is that the Fed can be wrong in their forecasts, as they kept rates too low in 2021. Now they have been playing catch-up with ultra-aggressive rate hikes in 2022, I believe the Fed would like to keep rates at these high levels to make sure that inflation comes down.
Having interest rates at levels this high weigh down the economy and we have already seen weaker than expected spending data from consumers in January, along with inflation coming down the last several months. The reason the Fed has not declared victory on inflation is that the labor market is still very tight with the unemployment rate below 4%. A tight labor market will keep wages high and may keep inflation higher than the Fed wants.
Before the Fed slows down and declares victory on inflation, the labor market will need to loosen up a bit. When this will happen is the question that I think about, along with the rest of investors and traders. For the time being rates are in a state of uncertainty as the market waits to see if the Fed is right and we will have rates higher for longer, or if the economy cannot handle the high rates and we see a sharp economic slowdown.
•Mortgage Applications rose 7.0% this week
•New Home Sales for December came in above analysts' expectations (616k vs expectations of 612k) and is up 2.3% m/m
•GDP for Q4 came in above analysts' expectations (2.9% q/q vs expectations of 2.6% q/q)
•Durable Goods Orders came in higher than analysts' expectations (5.6% m/m vs expectations of 2.5% m/m)
•Initial Jobless claims came in under analysts' expectations (186k vs expectations of 205k)
•US 10-year Treasury closed at 3.50% on Thursday afternoon
Mortgage rates increased slightly this week after rallying lower to start the year. The Federal Reserve is looking to increase interest rates at their next meeting on Tuesday and Wednesday. Expectations are that they raise the Fed Funds rate by 0.25%, which mostly impacts short-term loans and does not directly impact mortgage rates.
The Fed Chairman is expected to give guidance on Wednesday that they expect they will continue to raise rates at a slower pace and keep rates higher for longer. We expect something close to this to happen. The thing to remember is that the Fed can be wrong in their forecasts, as they kept rates too low in 2021. Now they have been playing catch-up with ultra-aggressive rate hikes in 2022, I believe the Fed would like to keep rates at these high levels to make sure that inflation comes down.
Having interest rates at levels this high weigh down the economy and we have already seen weaker than expected spending data from consumers in January, along with inflation coming down the last several months. The reason the Fed has not declared victory on inflation is that the labor market is still very tight with the unemployment rate below 4%. A tight labor market will keep wages high and may keep inflation higher than the Fed wants.
Before the Fed slows down and declares victory on inflation, the labor market will need to loosen up a bit. When this will happen is the question that I think about, along with the rest of investors and traders. For the time being rates are in a state of uncertainty as the market waits to see if the Fed is right and we will have rates higher for longer, or if the economy cannot handle the high rates and we see a sharp economic slowdown.
•Mortgage Applications rose 7.0% this week
•New Home Sales for December came in above analysts' expectations (616k vs expectations of 612k) and is up 2.3% m/m
•GDP for Q4 came in above analysts' expectations (2.9% q/q vs expectations of 2.6% q/q)
•Durable Goods Orders came in higher than analysts' expectations (5.6% m/m vs expectations of 2.5% m/m)
•Initial Jobless claims came in under analysts' expectations (186k vs expectations of 205k)
•US 10-year Treasury closed at 3.50% on Thursday afternoon

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