Zillion of times as a Northern Virginia Realtor, I have shown homes where the appliances are stuck in time. It may be as old as 70's to early 2000. When buyers walk in the home they immediate think about expenses that, they may have to incur to update the kitchen, which is heart and soul of the home.
So here is a million dollar question: As a Northern Virginia home sellers should go out and spend money to update the kitchen appliances or just sell AS IS or give credit to the buyers?
Answer will depend on your age of the home. If you home is built is 90s you have updated the flooring, counter tops but just have dated appliances it may be worth to update it. That will uplift the entire kitchen look and give you an advantage in the real estate market.
If you home is entire stuck in the 80s then you would be better off pricing your home reflecting the updates the buyer may have to spend. One of the other strategy would be to check out the competition in the area. If there are ample of homes with all the bells and whistles of updates, you may not have much choice but to update or discount the list price.
OR say your home faces competition from new construction in area (example homes in Ashburn Loudoun County). You will have to either update or go low on the price or have something more to offer to withstand the competition in the area.
Remember if you home is targeted to first time home buyers they may not know how much it will cost to update the kitchen, or have funds to update or biggest challenge we have is TIME! They may discount heavy for their inconvenience.
Best way to approach this would be to budget how much funds you have to update, time needed and the local market condition. Discuss with your local Northern Virginia home Realtor to help you navigate this decision.
Photo http://pixabay.com/en/cooker-stove-retro-pink-household-295135/
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