I’ve been asked this a few times from Sellers and there really is no straight answer. What it really comes down to is the type of property being sold. I think the best answer here is that the appliances themselves will not sell your home or increase it’s value, but they will create that wow factor that buyers are looking for, which DOES sell your home and potentially increase it’s value.
If the property is a fixer upper, then I would not suggest replacing the appliances in order to sell. Buyers will more than likely come in and do a complete renovation. They’ll have their own ideas of what appliances will match their remodel.
If you’ve done some middle of the road updates or small renovations to your home but the appliances are original and a little out of date, then I would recommend purchasing an inexpensive set of appliances to switch out for selling. When I say inexpensive, I don’t mean poor quality, I mean purchasing a ‘standard’ set from a reputable manufacturer. Often times you can get great deals when you purchase a complete set - stove, fridge, dishwasher and hoodfan.
The important thing to remember if you’re purchasing appliances for the purpose of selling is, the appliances must be in line with the style and price of the property and the properties in the area. You wouldn’t install a top of the line sub-zero fridge in a starter home area and vice versa, you wouldn’t install a lower end fridge in a high end property.
You also have to consider what kind of appliances to install; what would be most appealing to buyers. The fad right now is still stainless steel and I don’t see that fad going away any time soon. In my experience, buyers prefer black or stainless steel and would rather not have white appliances.
For the stove, a ceramic flat top or gas stove is the way to go. Self cleaning is also a must.
For the fridge, freezer bottom fridges are all the rage right now. Perhaps one with an ice maker, but I wouldn’t say you must have the water dispenser. Make sure the fridge size is conducive to the buyer and the number of people in their family. You wouldn’t install an apartment sized fridge in a property suited for a large, growing family.
If your current appliances are in pretty good condition and they work properly, then perhaps a good cleaning and polish prior to listing is all they need in order to sell.
The bottom line is, when potential buyers walk through your home, they are looking for reasons to get the price down, even if it’s on a subconscious level. If the appliances are dated, dirty or old, you can be sure it’ll come up as a reason for a lower offer.
Lastly, it’s an absolute must that all the appliances work properly. The purchase contract states that all appliances will be in good working order on possession date. So if you have an appliance that’s showing signs of a possible breakdown, I would recommend replacing it before listing.
Whether you replace the appliances or not, the goal is to create that wow factor that buyers are looking for to get your home SOLD!
ABOUT THE AUTHOR: Meagen Mackenzie, REALTOR® and Accredited Staging Professional with RE/MAX iREALTY INNOVATIONS.
Follow Meagen on Google