A few weeks ago, McCabinet hosted a realtor networking breakfast for local Tampa Bay area realtors to discuss the do’s and don’ts of kitchen and bath renovations for both buyers and sellers.
Brian McKenzie, President of McCabinet, addressed an eager (and hungry) crowd and reviewed McCabient’s diverse portfolio of cabinets, countertop lines and price points for multiple different situations realtors commonly find their clients who need to improve the look of a kitchen prior to selling, flipping a home, and completely overhauling a kitchen or bathroom once moving in to a new home.
Realtor Networking Event Addresses the Impact of Kitchens on Real Estate Value in Tampa Bay
Attendees discussed the most important rule in real estate – location, location, location – but all agreed that second to location is without a doubt the home’s kitchen and master bathroom.
Realtors and their clients have a variety of options when working with McCabinet in preparation for selling or when looking for solutions after purchasing a new property. Some options McCabinet has are:
Redesigning & Installing a New Kitchen or Bathroom Prior to Selling
While it is common for new homeowners to want to remodel spaces, realtors may also suggest that sellers remodel a kitchen or bathroom in order to attract the right buyers to the property. If the kitchen or master bathroom is the lone sore spot in a nicely remodeled home, this can drastically reduce how many buyers are interested and how much buyers are willing to offer. When remodeling a space to sell, it is advised to spend somewhere between 3 and 6 percent on a kitchen remodel and 1 to 3 percent of the home’s value on a bathroom. A nice, thoughtful design can recoup upwards of 100 percent of the investment for the sellers. Most importantly, a well-designed kitchen can help sell homes faster.
Resurfacing kitchen or bathroom cabinets prior to selling, or for new homeowners.
Another topic discussed at the realtor networking event was resurfacing cabinets for Realtors may suggest cabinet resurfacing to buyers who have a kitchen or bathroom setup with cabinets in good condition, but in the wrong color palette for optimum buyer interest. Realty clients seeking a kitchen or bathroom cabinet resurfacing can rely on McCabinet to resurface and paint their cabinet boxes and add new updated door and drawer fronts for a fresh, new look. The process is fairly straightforward and involves our installers removing the cabinet fronts, sanding and painting the boxes, and then reinstalling the new fronts. This is a really cost-effective solution for buyers and sellers with a great layout and nice countertops. It also causes the least amount of mess.
Design a complete kitchen or bath renovation and provide plans to the seller to display in the home for potential buyers.
An option for realtors who are selling homes that really need a major overhaul, but whose clients may not be ready to make a financial investment in the property, McCabinet offers a fantastic, cost-effective solution. McCabinet can work directly with the seller to create a photo realistic rendering of a proposed bath and/or kitchen remodel with costs to provide to potential buyers for a small fee. This way, potential buyers will be able to see exactly what they could do with the space and for what cost.
Redesigning a kitchen or bathroom for a new home purchase.
During the realtor networking event, McCabinet addressed questions about how realtors can help new home buyers with upgrading their kitchens. The challenge that we see, is that uninformed realtors may give clients unrealistic expectations of costs involved with a kitchen or bathroom upgrade. Remodeling a kitchen or bathroom for resale, as stated above, can often be kept to a minimal cost, however, when remodeling for the homeowners, it is common to spend substantially more. It is advised to spend somewhere between eight and 16 percent on a kitchen remodel and four to 10 percent of the home’s value on a bathroom. Why so much higher? People moving
The major takeaway from our event is to always work with your clients to ensure their comfort level on their return on investment.
The realtors had a blast learning about styling options and new offerings for their clients.
We can’t wait to host another breakfast!