Jun 6, 2024
The US housing market froze in 2023 due to rising home prices, but a new report says it’s actually more competitive now than it was pre-pandemic. For this and all the obvious reasons, every homeowner seeks to maximize the value of their property.
Although factors like location and size play significant roles, the condition and features of a home also greatly influence its market value. An often overlooked aspect that can significantly affect a home’s appeal and price is the quality and condition of its appliances.
In this article, we will look into the impact of upgraded and well-maintained appliances on a home’s market value, focusing on the perceived value of modern, efficient appliances. Additionally, we will offer insights into when and how to upgrade appliances for maximum return on investment (ROI) and stress the importance of using Original Equipment Manufacturer (OEM) parts for appliance upgrades or repairs.
Homebuyers are increasingly drawn to properties with modern amenities and energy-efficient features in today’s real estate market. Upgraded appliances not only enhance the aesthetic appeal of a home but also signify convenience and cost savings for the homeowner. For instance, an average household can save about $450 yearly on energy bills with ENERGY STAR appliances.
Moreover, modern appliances often come equipped with advanced features and smart technology, further increasing their appeal. For example, smart thermostats, ovens with programmable settings, and refrigerators with built-in water and ice dispensers add functionality and luxury to a home, making it more attractive to buyers willing to pay a premium for such conveniences.
Knowing when to upgrade appliances is crucial for maximizing ROI. While replacing all appliances at once may be tempting, strategic upgrades can yield better returns. Focus on high-traffic areas like the kitchen, where appliances are frequently used and serve as focal points for potential buyers.
When upgrading appliances, choose models that balance quality, energy efficiency, and aesthetic appeal. Stainless steel appliances, for instance, are timeless and complement various kitchen styles, adding a touch of elegance and modernity.
Maintaining the quality and performance of appliances is essential for preserving home value. When undertaking upgrades or repairs, it’s better to use OEM parts rather than aftermarket alternatives. Manufacturers specifically design OEM parts to fit and function seamlessly with their appliances, ensuring optimal performance and longevity.
Using OEM parts also helps uphold warranty coverage and prevents compatibility issues common with aftermarket parts. By investing in genuine OEM parts, homeowners can safeguard their appliances against premature wear and tear, minimizing the need for costly repairs in the future and maintaining the overall value of their property.
While OEM parts tend to be pricier than aftermarket parts, according to NerdWallet, there are two main reasons for this: OEMs are made with superior quality and, as such, take longer to order and stock.
The kitchen is often referred to as the heart of the home and is a crucial selling point for prospective buyers. Upgrading kitchen appliances like electric stoves can significantly enhance a home’s appeal and value. Modern electric stoves offer convection cooking, precise temperature control, sleek designs, and other features that appeal to both aspiring chefs and style-conscious homeowners.
In addition to enhancing functionality and aesthetics, upgrading kitchen appliances can also improve the overall efficiency of the space. Energy-efficient stoves reduce energy consumption as well as add to a more sustainable lifestyle, aligning with the preferences of eco-conscious buyers.
While upgrading kitchen appliances can elevate a home’s market value, proper maintenance is essential for preserving their performance and longevity. Utilizing OEM parts for maintenance and repairs ensures that appliances continue to operate at peak efficiency, extending their lifespan and reducing breakdown risk.
For owners of Kenmore electric stoves seeking OEM parts for maintenance or upgrades, PartSelect is a valuable resource. With a comprehensive selection of genuine Kenmore electric stove parts, homeowners can easily find the necessary components to keep their appliances in top condition.
From replacement heating elements to control knobs and igniters, you can find OEM parts that guarantee compatibility and reliability, allowing you to maximize the value of your Kenmore appliances and, by extension, your property.
On top of choosing ENERGY STAR appliances and OEM parts, here are other appliance upgrade tips that can elevate a property’s desirability and market value:
When considering appliance upgrades, prioritize refrigerators, stoves, dishwashers, and others commonly valued by potential buyers. These are essential elements of a functional kitchen, a key selling point for many homebuyers. Investing in high-quality versions of these appliances can significantly enhance the property’s overall appeal and perceived value, potentially leading to higher offers and quicker sales.
Incorporating smart technology into appliances can elevate the perceived value of a property. Smart appliances offer convenience, flexibility, and often improved performance compared to their traditional counterparts. Features like remote operation, energy usage monitoring, and compatibility with smart home systems can enhance the overall desirability of the property, potentially commanding higher prices in the market.
Creating a cohesive look in the kitchen with matching appliance sets can contribute to a sense of sophistication. Coordinating finishes and styles across appliances can elevate the overall aesthetic appeal of the space, making it more visually appealing to potential buyers. Aesthetically pleasing kitchens are often a significant home selling point, influencing buyers’ perceptions of the property’s overall value.
Upgraded appliances play a substantial role in enhancing a home’s market value and appeal to potential buyers. By investing in modern, efficient appliances and utilizing OEM parts for upgrades and maintenance, homeowners can elevate their property’s desirability while ensuring long-term performance and reliability.
Strategic upgrades, particularly in high-traffic areas like the kitchen, can yield significant returns on investment, making them a worthwhile consideration for anyone looking to maximize their home’s value.