THE ANSWERS
Condo Kitchen Conundrum
Sunday, December 16, 2007; Page F06
Q: I live in an older, garden-style, one-bedroom condo that was updated before I purchased it in 2004 -- not extravagantly, but new appliances. As I dream of moving to a small townhouse or a small single-family home, I contemplate whether to upgrade the kitchen to what people expect, or to what HGTV wants you to think people expect. Is it worth the expense and time? Or should I leave it as-is for the next owner to gut, which might very well happen even if I do fix it up? -- Arlington
A: Barbara Nowak, an agent with Long & Foster in Burke, said that in years past, when the market was hot, she would have said "absolutely" fix it up. "You would have gotten your money back and then some."
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But now? Probably not, she said. You don't want to go overboard. "Certainly for a condo, you wouldn't want to spend oodles of money," especially if you plan to move out soon, she said. "If you're living there for a while, you might spend a little more."
Remodeling magazine's 2007 "Cost vs. Value" report found that major, mid-range kitchen remodeling jobs added 83 percent of their cost to the home's value. Minor remodeling jobs returned 82 percent. Major, upscale kitchen remodels returned less, 77 percent. If you're thinking about moving soon, that means that from a financial perspective, the money might be better sunk into your down payment savings, not a new Viking range.
It doesn't take a full remodeling to make a difference, though, said Nowak, who just put about $12,000 into the kitchen of a Northern Virginia townhouse that she's selling herself in hopes of helping it move faster.
If the kitchen is looking a little tired, consider painting the cabinets or updating the hardware before you sell, she said. If the counter looks rough, it could be inexpensively replaced with laminate. Don't rush to slap granite on top of shabby cabinets, she said. She has seen a few kitchens where the owners did that, and it didn't help the look at all. "You're dressing up the structure, but the structure is falling apart."
-- Mary Ellen Slayter
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