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New Orleans condo sellers, Best investment you can make is in the kitchen for higher returns!

      The biggest single return on an investment outside of painting and general cleanup is going to come from kitchen remodeling or updating.  The national average for homes and condos is going to be around 80% for kitchens in general.  In condos the kitchens are smaller than in homes meaning less money has to be spent.  The upgrades still mean a lot to the potential buyer.  If you do it the right way you may be able to break even on the remodeling job.  You should remodel now and enjoy it as its a future investment in your condo. 

     The key is doing the updates the correct way.  You do not have to have a gourmet kitchen or appliances.  You can generally get a nice package deal at a place like Lowe’s for appliances.  The cabinets and counter-tops can be ordered there as well.  Find some one to install them for you and save on their most profitable portion of the business.  This installer can do other small things that will polish up your kitchen.

      Granite counter tops is the most likely choice and for a small space its not that much for the standard styles and colors.  Let the counter-tops be installed as they may break by having others installing them.  Using a handi-man such as Sal Cannizaro to help you plan can save you money if you can organize this over time. 

 New Orleans Handi-Man, Where are the good ones when you need One? I call Sal !

      When you do the updates you should not forget about lighting and some small fancy items that will set you kitchen apart from the others.   You may want to think about under counter lighting  and tile back splashes for that extra zing.  Since most condo kitchens are small you need to do everything to give it that clean uncluttered look.  Making it look bigger and brighter goes far in kitchen curb appeal.

     Remember selling quickly is important.  People are not buying in 90% of the cases where kitchens need work except if for a nice discount in pricing.  Leaving a condo on the market 3-4 months can easily cost $5000 in stress and carrying changes.  Condo fees, the note, and taxes go forward while you are waiting.  Be the best in your class and come out ahead.  You want to be fully completed before showing.  I use to think it does not matter as much but now it does make smart sense to finish completely.

     The cost of not doing the updates is taking a larger discount on the price.  Seeing what your competitors have done will let you know where you stand!

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  1. Andy in GR

    Eric, this is really good advice. One of the most asked questions I get is “Is the kitchen updated”? Buyers want to have a nice kitchen. Just changing the hardware on the cabinets can change the look.

  2. Eric

    Andy, some buyers can come out ahead by finding things that need the work if they get the discount. Cewrtain areas almost require a nice bath and kitchen as 90% do not want to fool with it. Of course the other things need to be in place as well.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA