You don't have to be a gourmet cook to appreciate the value of a well-designed kitchen. Even if you and your loved ones subsist on
take-out food and microwave dinners, the kitchen is still one of the most heavily used rooms in your co-op or condo and you want it to look spectacular. But, good looks aren't everything. A kitchen isn't truly spectacular unless it's functional, too. There should be plenty of countertops, lots and lots of cabinets, and don't forget state-of-the-art appliances (like a noiseless dishwasher).
Something else to keep in mindwhether you just moved into your co-op or condo, or you're getting ready to put it on the marketis that if your kitchen doesn't thrill you, it probably won't impress potential buyers either. That's why the right kitchen make-over can add value to your real estate investment.
A Win-Win Situation
According to Greg Carlson, president of Carlson Realty, Inc., a real estate management and brokerage company in Forest Hills, Queens, When the real estate market is good, you can usually expect to increase your sales price by ten to 20 percent if your kitchen has been renovated within the past five years. Even in a depressed market, brokers find that a new kitchen is a significant selling point. You may not be able to get more money for your apartment, or even recover the entire cost of the renovation, but you'll definitely sell your unit faster than if you hadn't spiffed things up.