If you’re renovating to sell, start with your kitchen.
Category Home for sale tips
For the majority of house-hunters, a state-of-the-art kitchen takes the prime position on the wish list, particularly if the individuals are aged 48 and over. This is according to research conducted in the USA by market research company GfK Roper, following a study involving 1000 American homeowners who were asked to prioritize the amenities they’d include in their dream home. The researchers then listed the results by generation. The 48 plus respondents fall into two groups, the Generation X’ers born between 1965 and 1977 and the Baby Boomers born between 1946 and 1964.
The younger “Y” generation born between 1978 and 1995 prioritised Jacuzzis, then swimming pools and a games or billiards room.
“This research is valuable for the South African market, in that we regularly see lifestyle trends developing locally following those identified in the US, and there is no doubt that a state-of-the-art kitchen is a highly prized amenity and one which adds tremendous allure to a property,” says Mike Greeff, CEO of Greeff Properties an exclusive Affiliate of Christie’s International Real Estate. “If you are considering a renovation in order to add value to your home, prioritise a kitchen revamp when budgeting,” advises Greeff, adding that the second most desired amenity for the X’ers and Baby Boomers was a large walk-in closet.
“This also mirrors what local purchasers value in a home,” says Greeff, who is of the opinion that this research can be utilised to help sellers hone in on renovation choices to enhance market value, particularly if they are pitching their home to a particular age group and associated lifestyle; “The research indicates that baby boomers whose children have left home are tending towards a space that can reflect their achievements and status, not unlike a gallery,” explains Greeff. He comments that the Generation X’ers whose kids are still at home are seeking a relaxed space for family activities, while the Y generation look mainly for a home which can entertain them. For this generation a state-of-the-art kitchen was sixth on the list.
Author: Greeff
