Does your old home really need a new kitchen?
Share to twitterIs a lavish new kitchen like this the best thing for your old house? if you are selling the house, it may help it sell faster, but it won't pay for itself.It is a truth universally acknowledged that the owner of a freshly purchased home must be in want of a new kitchen. Kitchens are, without question, the touchstone of home renovation: functional workrooms, they are also family gathering places that, more than any other room in the house, broadcast status.
“I work with a lot of Silicon Valley tech area people, and they want kitchens done within the last 15 years,” says Maggie Barr, a realtor with. “Nobody wants to renovate; these young homebuyers are looking for move-in ready homes. In this area, much of the housing stock was built in the 1960s and 70s, and 90% of the homes have outdated kitchens. Houses with updated kitchens sell faster.”
“Most old-house folks, even purists, don't want, say, a truly 1880s kitchen – without electricity, etc. – for their 1880s house,” says, lecturer, writer and architectural historian who gives keynotes and seminars around the country on kitchens and historic buildings. But in fact, industry numbers do not bear out the assumption that a new kitchen raises a home’s value. indicates that a major upscale kitchen renovation will recoup just 59.7% of the cost when the property sells. A tweaking is a better return on investment: a minor kitchen remodel returns 80.5% of the money spent.
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