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To renovate or not renovate~ That is the Million Dollar Question!

To renovate or not renovate~ That is the Million Dollar Question!

If you make a kitchen like this~ you will NOT reap the benefits!

If you make a kitchen like this~ you will NOT reap the benefits!

People ask us everyday, should we renovate our Kitchen and Bathrooms before we put the property on the market.

There are multiple answers to this question.
If you bough at the height of the market and are going to take a loss on the property, it probably makes more sense to leave the renovations up to the owner.

If you are planning on living at the property for the next 5 years or so, I say, YES, do the renovations, but think with the following criteria:

Whatever your budget is, stick to it and do not do multiple change orders or you will end up going over budget by at least 40%.

Keep it simple: Use top of the line stainless steel equipment in your kitchen:

~ Miele or Bosch dishwashers

~ Viking or Wolf Stoves

~Sub Zero Fridge or High end Ge Profile

Same thing goes for the bath:

~ Simple white tile, maybe with a nice boarder

~ Maybe a claw foot tub

~ High end chrome or stainless fixtures

~ A nice pedestal sink or beautiful vanity…..

The bottom line is that it would be horrific if you spent all this money on renovations and 5 years later the designs and equipment were out of style!

KEEP IT SIMPLE!!!

NOOOOOOOOOOOOOOOOOOOOOOO!!!!!

NOOOOOOOOOOOOOOOOOOOOOOO!!!!!

YES! YES! YES!

YES! YES! YES!

Have you seen these yet?

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Paul Zweben, Licensed Associate RE Broker
pzweben@elliman.com
Carolyn Zweben, Licensed Associate RE Broker
czweben@elliman.com
1995 Broadway, New York, 10023

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2010 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. NYS STANDARD OPERATING PROCEDURE & NYS HOUSING DISCRIMINATION DISCLOSURE FORM. NOTICE DISCLOSING TENANTS’ RIGHTS TO REASONABLE ACCOMMODATIONS FOR PERSONS WITH DISABILITIES.
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