appliances are a commodity that represent a minor fraction of the sale price
no one plonks down $2 million dollars on a home to get $30k worth of appliances
no one moves into a poor school district to buy a Viking range
you can swap out all the appliances in a home in a few days
and the idea that these are an "investment"?? how many homes have you owned? no one is making a profit off of installing a dishwasher
and to edit a response...you just flipped properties in a seller's market, you would have made a profit regardless. wait until it is truly a buyer's market...you won't get a premium off easily-done renovations like swapping appliances
I've owned and sold several homes that I've renovated and they always fetch a premium.
Recently I sold an apartment in a complex with 1200 units - so comps are widely available. The sale happened in a matter of hours with 6 way-over-ask offers, half of which were all cash. The closing price continues to be a high water mark for this unit / line in the complex.
There were other units on the market at the same time as us where the sale took weeks if not months and sold for drastically less. Some of them were recently renovated, but had builder grade finishes.
High end kitchen / bathroom renovations (aka appliances) are most certainly a major factor.
appliances are a commodity that represent a minor fraction of the sale price
no one plonks down $2 million dollars on a home to get $30k worth of appliances
no one moves into a poor school district to buy a Viking range
you can swap out all the appliances in a home in a few days
and the idea that these are an "investment"?? how many homes have you owned? no one is making a profit off of installing a dishwasher
and to edit a response...you just flipped properties in a seller's market, you would have made a profit regardless. wait until it is truly a buyer's market...you won't get a premium off easily-done renovations like swapping appliances