Over six million people sell their homes yearly in the United States, so if you put your property on the market, you’re in good company. This can be an exciting but also stressful time. After all, you want to sell your home for a price that reflects its actual value.
However, this depends a lot on your home’s condition. A lot of sellers choose to update their homes to increase their value, and there are plenty of ways to do this.
You’re in the right place if you’ve been wondering if you should buy new appliances before selling your house. Read on to find out whether or not you should invest in new household appliances before selling your house.
Do New Appliances Add Value to a Home?
The median home sale price in the US is currently $428,700, but there is no guarantee you will get this much for your property. A lot can affect the sale price of a property, including:
- The housing market
- Its age and location
- The condition that a property is in
Of course, you cannot change the property market or your home’s age and location. However, you can make home improvements to add value to your property. People in America spend more than $6,000 yearly on these improvements to keep their homes up to date.
Of course, not everyone will be able to afford to remodel their home before selling it. This is why a lot of people focus on smaller jobs, such as updating their appliances. So is it worth it, and do new appliances add value to a home?
Well, the short answer is yes! If you buy new appliances, this could increase your home’s value by up to 7%.
This is because new appliances will last longer and are more energy-efficient. As a result, your buyers are less likely to pay for repairs or replacements after buying your home. These appliances are also cheaper to run, so save your buyers money in the long run.
Can You Afford to Buy New Appliances?
You also need to think about your budget. New appliances can be very expensive.
To help you make a decision, here are the price ranges of common household appliances:
- New dishwashers cost between $400 and $700
- New ovens cost between $650 and $2,000
- New refrigerators cost between $900 and $8,000
- New clothes driers cost between $400 and $1,000
- New washing machines cost between $700 and $1,000
- Remodeling your bathroom fixtures can cost between $2,500 and $30,000
So you could spend up to $13,000 replacing your kitchen appliances alone. If you do have the budget for this it is also worth considering how much value new appliances will add to your home.
For example, if your home is worth $250,000, these appliances could increase its value by $17,000. If you spend $13,000, you’ll make an extra $4,500.
Interested in your home’s current market value? Receive a free online home value estimate!
You could increase your profit margins by buying slightly cheaper appliances. So it is worth shopping around for deals or only replacing a few of your appliances to increase your home’s value.
Is Stainless Steel Worth It?
If you are going to replace your appliances, it is worth thinking about the type of appliances you choose. So do high-end appliances increase home value?
Stainless steel appliances tend to be a lot more expensive than other appliances. They also require more cleaning. However, they last longer, making them an appealing investment for potential buyers.
Whether or not you buy stainless steel depends a lot on your budget. If you want to reduce your spending, then it is a good idea to avoid stainless steel appliances. If you have a bigger budget then these can seriously boost the value of your home.
Of course, you could opt for one or two stainless steel appliances to save money. For example, you could buy a stainless steel oven and a cheaper refrigerator or dishwasher.
However, it is also worth asking how important matching appliances are when selling a house. A mismatched aesthetic could make your kitchen look less impressive than it is. In that case, you could match the refrigerator and dishwasher doors to the rest of your kitchen cupboards for a more coordinated look.
It is also worth considering the aesthetics of your home before buying stainless steel appliances. Stainless steel can look amazing in a sleek, modern home. However, if your home has a more rustic feel, it can look very out of place.
Should I Buy New Appliances to Sell My House?
You should also look at your home’s value to budget for new appliances. This will help you decide whether or not it is worth investing in them.
For example, if your home is worth $150,000, new appliances could only add up to $10,500 value. In that case, you don’t want to spend $13,000 on them!
To calculate your home’s value, you need to look at:
- Its age and location
- Its size, usable living space, and storage
- Its condition
- How up-to-date the rest of your property is
- Its walkability score
The property market and when you choose to sell can also have a big impact on your sale price.
You can use a number of online tools to calculate the value of your home. Or you could organize a valuation with a local realtor to find out how much they think your home is worth.
Start With the Appliances That Are Not Working
If you are working with a tighter budget, then you should focus on replacing the appliances that need the most work.
Broken or outdated appliances can actually reduce the value of your home. This is because potential buyers will need to replace these when moving in.
Take a look at all of your key appliances and:
- Their service history
- When they were installed
- How energy-efficient they are
- Whether or not they need repairing
Broken, old, or inefficient appliances should always be the first to go.
Will Replacing My Appliances Cause Other Problems?
You don’t just need to think about the cost of these appliances. You also need to think about other potential issues installing them could cause.
As well as buying new appliances, you will need to:
- Pay for their installation and delivery
- Ensure they match the aesthetic of your home
- Dispose of your old appliances
- Clean up and potentially redecorate your kitchen or bathroom after they have been installed
- Make sure your plumbing and wiring fit your new appliances
Getting new appliances fitted requires a lot of time and money. So it is never quite as simple as popping a new appliance into the space of the old one!
Consider Your Market Conditions
It is always worth considering the market you are selling in before buying new home appliances. This will dictate how easy or difficult it is to sell your property.
For example, if homes are in high demand, then you will get more interest from potential buyers. This usually means that it is easier to find a buyer who will meet your asking price. Buyers may enter into a bidding war for your property, even if it needs work.
Alternatively, you may notice that property prices are falling in general. This may mean that the value of your home drops overall.
In a tough market, minor renovations may not make a huge difference to the value of your home. In that case, it may be easier to sell your home as-is.
Sell As-Is With an iBuyer
There’s a high chance you still need to consider all of your selling options. While new appliances can impress residential buyers, you can save time and money by selling to an iBuyer.
iBuyers (or instant buyers) tend to be property investors who are happy to buy homes “as-is”. They offer market value, all-cash offers on properties no matter their fittings and fixtures. You do not have to spend thousands of dollars renovating your home.
To sell with iBuyer.com, all you need to do is enter your property details into a secure online portal. Then you can upload photos of your property.
Looking for cash offers on your home? You’ve come to the right place!
If a buyer is interested, they will make a quick, all-cash offer. After this, they’ll arrange an inspection to make sure that the property is in the condition advertised.
Once they’re happy, you can accept their offer and sell your home in a matter of days!
Should I buy new appliances before selling a house?
This depends on your budget and how you want to sell it.
New appliances can add value, especially if you are selling to residential buyers. However, you need to ensure that the value they add will be more than the amount you spend on the appliances and their installation. So think about this carefully before you start shopping!
If you want to sell your home without the hassle of investing in new appliances then you should definitely consider using an iBuyer. Upload your property details and get a cash offer from an iBuyer today to find out how much your home is worth!