When you’re preparing to sell a house, it’s always important to ensure it’s presented in the best possible condition. This isn’t just a case of cleaning it before viewings. You’ll also need to make certain that there are features of the property that grab buyers when they first see your photos via the multiple listing service (MLS) or online listing.
There are some key features that frequently make a difference to both the speed of sale and the price you can attract. One that you, as an independent seller, may be able to influence is the presence of fresh appliances. In some instances, smart investment here can give you a better chance of selling your home for your target asking price and on your preferred schedule. However, this isn’t to say it’s necessarily a cheap or easy way to go.
So, should you buy new appliances before selling a house? Let’s explore the idea a little further.
The Benefits of New Appliances
When asking yourself whether you should buy new appliances, it’s important to get an understanding of what they could offer you as a seller. This gives you the data to base a well-informed decision on. Some of the key potential benefits of buying new appliances before selling a house include:
Better aesthetics
One of the primary reasons you might want to get new appliances for your property is that they can improve the look of the space. Older appliances can make a home look dated and a little run down. Particularly when you’re selling your home independently via the MLS, part of your role is to show buyers that they could achieve a good quality of life. Newer appliances may be able to boost your property’s aesthetic to support this impression.
Increased value
To some extent, new appliances can add to your home’s sale value. Some estimates suggest this can be around 7% of the value, but it’s important to recognize that this isn’t guaranteed. How much your property price can be increased by appliances depends on a range of factors, including the state of the market, the types of appliances you invest in, and the condition of the property.
Faster sale
In some instances, having new appliances in a property can potentially result in a faster sale than without. This is usually relevant when buyers are looking for a property that is already largely furnished. The result is that they can quickly move into and have a good standard of living immediately. It may also prompt faster sales from people moving from out of state who don’t want to transport appliances long distances.
Impression of lower costs
When people are buying a home, in many instances, they want the experience to be as simple and low-cost as possible. Having to remove old appliances and invest in new ones will often exacerbate the expense they’ll have to go upon moving in. Therefore, the presence of fresh appliances can be indicative of lower costs.
The Drawbacks of New Appliances
Buying new appliances before selling a house isn’t always a flawless plan. There are potential drawbacks you should also consider when deciding if it can be part of your selling strategy. Some of these include:
Higher costs
There’s little getting around the fact that new appliances will cost money. Indeed, those that are likely to make a big difference to the sale of your home will probably be on the more expensive end of the market. Reducing costs is generally a priority for most sellers, and many choose tactics like selling via the MLS rather than pay higher realtor commissions with this in mind. You’ll therefore need to recognize how appliance costs impact your bottom line. Though, the lower costs you’ll be paying by collaborating with a flat fee MLS brokerage may make this investment more practical. You may also need to weigh paying for appliances against other improvements that can add value, like a deck.
Buyer preferences
New appliances can be an attractive part of a property for sale. However, it’s also important to recognize that the choice of type and style of appliances can be personal to a homeowner. For instance, your taste for advanced technological kitchen devices might not mesh with sellers who are looking for a more rustic or understated look. Therefore, buying new appliances can present something of a risk, depending on who the buyers are at any given time.
Quick depreciation
With any investment, you should have an awareness of how quickly the assets involved are likely to depreciate. Unfortunately, electrical goods tend to depreciate at a relatively swift rate. While this may not be of practical importance to you as you won’t be using them, it may be something your potential buyers are keenly aware of. As a result, you may find that the new appliances aren’t as good a negotiating tool or value boost as you would like.
Additional Work
Buying new appliances for your property isn’t just an investment of finances, but also of time and energy. You’ll need to put some research into establishing the most appropriate items for your property and those that are attractive in the current market. You’ll then need to install them. Particularly if you’re selling independently, this may represent additional labor that you don’t necessarily need on your plate.
Selecting the Right Appliances
If you decide that you should buy new appliances before selling a house, it’s important to buy the right kinds of items. Not all appliances are likely to make a difference to the value or how quickly you can sell your property. If you have doubts about what elements are attractive to buyers in the local market, your MLS broker may be able to provide you with some advice.
At the moment, some of your best investments will be in energy-efficient appliances. This tends to be in line with the lifestyle and ethical priorities of many buyers. Not to mention that these can significantly reduce long-term costs your buyers will experience through their utility usage. The focus here should be on heavy-use items like washing machines, dishwashers, and refrigerators.
You can also find that smart home devices can be valuable investments. However, mitigating the potential clash in lifestyles for more traditional buyers can be problematic. Not to mention a full smart home will be expensive. Therefore, your approach here may be more successful if you focus on purely minimal but practical items. For instance, smart thermostats, lighting, and security systems can be positive for most buyers.
In terms of look, it’s important to avoid appliances that are too gaudy in color or style. Even if they seem to fit the current kitchen style, bear in mind that buyers may want to change this. Instead, go for neutrality and convenience. Plain white, chrome, or black items tend to be best, not to mention easier for families to clean.
Wrapping Up
So, should you buy new appliances before selling a house? Well, it depends on your needs, the market, and the appliances you are considering investing in. There are certainly advantages to this route, such as potentially higher values and more attractive aesthetics. However, this can be tempered by elements like the cost of appliance investments and the quick depreciation of these assets. Often, it is best to select neutral and practical appliances that both boost the advantages we’ve outlined alongside mitigating the potential disadvantages.
Reach out to us at (813) 642-6030 or email florida@flatfeemlsrealty.com if you have any questions about listing your home on the MLS.
