Would investing in new appliances increase the value of a property? Chris Allen, author of The Book on Toronto Real Estate, says “the trick isn’t that all the appliances be modern or stylish, but instead that they are suited to the kitchen they are in”. For example, it would appear unsettling if a kitchen had brand new stainless steel appliances with old worn cupboards, countertops or mismatched cabinets or handles. Ideally, homebuyers look for up-to-date appliances in a fitting kitchen and in theory are impressed when everything flows together nicely. Allen explains that simply having new appliance units is not enough to increase the value of a house.
Furthermore, if you are looking to improve your kitchen or your home in general you should aim for a minimum of $15,000-$20,000 return off of the upgrades in order for it to be worth it.
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