How Important are new Appliances When you Sell Your Home?
Updated: Jan 4, 2019
These days, most people don't buy a home and stay in it forever, at least not at first, which means the idea of the value of your home is always hanging out somewhere in the back of your mind. When it comes to increasing the resale value of your home, how important are new appliances and do you get your money back when you sell?
Sometimes new appliances are a must if you're planning to sell your home. But often, the rate of return on appliance upgrades is low. Here are four times when buying new appliances for your home could pay off.
If you're thinking about selling your home and think that replacing your current white appliances with black or stainless steel, you might want to re-think that. One possible exception to this rule is if your appliances don't match. Mismatched appliances can make a kitchen look unfinished, which you don't want when you're trying to sell your home.
Dishwasher on its way out? Instead of replacing all your appliances when all you really need is a new dishwasher, purchase a dishwasher that matches the existing appliances. It's going to cost you way less to make everything match what you've already got than to buy all new pieces.
There is a better than average chance that buying the latest Wolf range or high-end dishwasher probably isn't going to increase the value of your home enough to justify the expense. However, in more expensive neighborhoods, many buyers expect luxury appliances. And since most higher end properties are move-in ready, having nice, new appliances could help sell your home. Talk with your REALTOR® about home prices in your area to determine if purchasing new, higher quality appliances could help your chances of selling your home.
Old and energy inefficient appliances
Most houses don't sell over night, which means you're probably going to have to live in your home for a bit longer than you might like. Although new appliances don't necessarily increase the value of your home, energy efficient models could help lower your energy bill until you move. Even if older appliances are in good working order, they can be extremely inefficient. See for yourself how much energy that old fridge is using with this handy calculator from Energy.gov.
No appliances at all
There are some places in the U.S. where you can easily sell a home without appliances (we're looking at you, New York City). But for the rest of us, missing appliances can throw a wrench in the deal. If you have a spot for a dishwasher, purchase one to put there. When buyers walk through a house, missing appliances like a fridge or dishwasher could have a negative impact on potential buyers, even if the home is exactly what they are looking for.