You’ve just walked into your dream home. It is on the street you want, has the layout you want, and the right size yard. There is just one problem. The appliances are as old as your Aunt Mildred’s flower-infested couch. If you’re dealing with appliance woes, you may be wondering are updated appliances really that important when buying a home?
If you’re trying to sell a home, updating the appliances is a great idea. Some buyers simply don’t want to deal with the costs of securing new appliances. It can be a deal breaker for some buyers.
If you’re buying a home, however, don’t let old appliances turn you off. You can easily roll the cost of new appliances into your home loan or purchase new appliances on a 12 months same as cash program.
The Allure of Updated Appliances
What is it about a gleaming stainless steel refrigerator that makes one drool with longing? It has been said that the kitchen is the heart of the home and this is true for most people. It is also why potential buyers look at the kitchen with a critical eye.
What about energy efficiency? According to Bankrate, the energy savings may not be enough to justify buying new appliances. On the other hand, a fridge that is 20 years old can cost as much as $70 a month to run. That means it would pay for itself in the first year or two in energy savings alone.
The key is to figure out just how old those appliances are and whether or not the investment in new ones is justified. Energy Star has a calculator that will help you figure out the cost of running current appliances versus new ones.
This can help you decide if you should buy new appliances before moving in or if you should replace the appliances before trying to sell your home.
Keep in mind that if the buyer is looking at your house and another house in the same price range, a big selling point is the kitchen. An updated kitchen can move a looker into the range of someone ready to make an offer.
You are also competing with sellers who have updated their kitchens and made them look modern and fresh.
If you’re unsure about whether or not a kitchen should be updated, contact Daniel and Bonnie Wan. They can help you navigate those real estate minefields and find home owner success.