When it comes to upgrading your home, there are many different routes you can choose to go. Many of them require lengthy projects (like redoing the roof) that may not be very fun to do. However, there are ways to add value to your home that won’t require lots of life-interrupting projects. One of the easiest ways to do this is through upgrading some of your home’s appliances.
The sign of being an adult is getting excited about new appliances, and if you’re excited about a new fridge as a homeowner, you can imagine that a potential-buyer would be just as excited as well. However, not all appliances are created equal. Experts have weighed in on which appliances are worth switching out in order to maximize your home’s value.
Ron Shimek, president of Mr. Appliance, and Bill Collins, a real estate agent from ERA Queen City Reality have given their opinions on what you should be focusing on.
Shimek points out that you need to keep diminishing returns in mind. “Unless your home is in the high-end market, don’t go over the top when purchasing appliances.” He said that splurging on over-the-top appliances “won’t recoup your costs, so it’s important to get the best value overall when selecting an appliance.”
Collins adds that even if you splurge on an appliance for yourself, “That’s all well and good for your personal use, but when you sell the property” you may be in for a rude reality check.
So which appliances are best to update? Here’s what they had to say.
Refrigerators with French doors and built-in ice and water dispensers offer the highest ROI, according to Shimek. Stainless steel has a great resale value, so avoid trendier options. Eco-friendly and Energy Star appliances are also great investments. Collins suggests: “When investing in one, leave the ‘Energy Star’ tag on the appliance instead of removing it.”
Stoves that have a built-in feel as opposed to a more old-fashioned standalone stove will frequently have a greater ROI. Flat tops and self-cleaning functionality will also improve value, as options that help make life easier are always appealing.
Washers and dryers tend to be part of the conversation when it comes to home purchasing negotiations. According to Shimek: “The best type to invest in is a high-efficiency, top and front-load washer paired with matching dryer.” He notes that here too the Energy Star logo will increase ROI.
Other appliances that can help increase a home’s value are WiFi-enabled appliances and separate beverage chillers. Collins also adds that dishwashers do not typically allow for a great ROI, as they last for nearly 10 years.