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If you’re preparing to sell your home soon, you may be wondering if you should replace your appliances before you list. While this is a subjective issue without any clear right or wrong answers, there are several points you should consider to help you make the right decision.
Consider ongoing cost expenditures and savings
If your appliances are costing you too much money to operate, it may be worth the expense to replace them with more efficient models. This is especially true if doing so will add significant value to your property.
To check the efficiency or lack of efficiency of your appliances, use a “kill a watt” tool to measure how much power each appliance is consuming. Then, compare this to the projections on most new energy efficient appliances.
If you can reduce your costs significantly, even just for the short term, it may be worth it to replace your appliances. If you do decide to replace them, consider energy and environment-friendly options.
Appeal to buyers
A 2013 study from the National Association of Home Builders found that buyers prize efficiency when they are looking at homes to buy. In particular, buyers want energy-efficient appliances and windows. In a competitive market, investing in new appliances may help draw in more interest. This can be especially critical in a competitive buyer’s market.
However, consider how you’re marketing your home before you head to your local home improvement store. If you are marketing it as a fixer-upper or a handyman’s special, filling it with new appliances may not make much sense. In most cases, buyers who take on fixer-uppers want to stamp them with their own style, and it’s impossible to know what kind of appliances are going to match the decor the new owners select.
Complement other repair work
If you are sprucing up your home, you may want to replace inefficient or unattractive appliances to complement other home improvements you’ve made. For example, if you re-tiled the kitchen and put in new countertops, stainless steel appliances may make the room design feel cohesive.
California has one of the strictest sets of disclosure laws in the country. Before selling your home, you have to give the buyer a detailed list of all of the appliances and how they work.
Make a list of the appliances you currently have with notes about their condition and imagine how you would feel about that list if you were a prospective buyer. If your appliances aren’t working correctly, you may want to repair or replace them so buyers aren’t turned off by your list.
Making the call
Ultimately, if you’re significantly overspending on utilities, it is definitely time to upgrade your appliances. Doing so can also make your home look more attractive, which is a must in a competitive market. However, if you don’t have the extra cash and your appliances are only a bit inefficient, it may be better to wait and let your buyers sort it out.
Deciding whether or not to upgrade appliances can be difficult. Use these points to help guide your decision.
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