Can quality appliances increase home value?

Can quality appliances increase home value?

Private Property South Africa
RE/MAX

When updating and staging a home to sell, many reach the conundrum around whether to upgrade the existing appliances in the home. While certain quality appliances can and will increase the home’s value, others will simply make the home look more appealing to buyers without adding much value beyond this.

To work out which is which, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett, advises homeowners to consider which of these appliances are considered fixtures and will therefore be included in the sale of the home.

“When a buyer purchases a home, it is widely accepted that he or she will receive all fixtures and fittings of a permanent nature (i.e. those that have been permanently fitted into the home) that are found within the property in question. Items such as stoves, which need to be fitted by an electrician, usually count as a permanent fitting and can, therefore, affect the resale value of a home. Appliances such as the fridge and the dishwasher, on the other hand, usually go with the seller and therefore will not have a direct effect on the resale value of the home,” Goslett explains.

Having said this, Goslett also states that simply having quality appliances in the home can increase the overall appeal of the home which can indirectly affect what buyers are willing to offer on the home. “Having high-quality appliances in the home can give buyers the impression that the home is worth more than if it were fitted with old, outdated appliance. Even if these appliances are not included in the sale of the home, staging the home with quality appliances might lead to buyers placing a slightly higher offer,” he suggests.

Because these things are sometimes ambiguous, Goslett advises sellers who hope to leverage the value of their appliances to advertise the home by specifically stating that these appliances will remain in the home when the buyers take occupation. “Quality appliances can be the distinguishing feature that helps sellers attract buyers and secure the sale. An experienced real estate professional will be able to help sellers market these features correctly to attract buyers for the home,” Goslett suggests.

Those who are uncertain of which features will add value can consult their local real estate practitioner to find what buyers are searching for within their market.

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