For decades,
buyers of American high-end homes, condos and lofts have often been happy to
invest in nearly commercial-grade kitchen appliances, even if they personally
didn't intend to use them much. They believed that doing so would increase the
resale value of their home.
Meanwhile, as a
Minneapolis realtor, I have observed that our newest condos and lofts continue
to come with full-size refrigerators, ovens, microwaves and dishwashers, even
in light of the current recession, and even though these homes are likely to be
inhabited by only one or two people. This is true even as the value of energy
conservation becomes more and more accepted within American households.
Because
Americans love their kitchens-and the kitchens of others! Guests at our parties
congregate in this favorite room as if it were a pre-planned destination.
Relaxing in the kitchen typically places guests in close proximity to the hosts
and the hard work and planning put forth on their behalf.
It should not be
ignored that the hard work and planning were made considerably easier by
top-notch and, yes, large kitchen appliances. The extra capacity inspires cooks
to keep trying more and more difficult things. Also, just because a home is
inhabited by only one or two people, it doesn't mean that the owner will never
bake a pie, use a large jelly-roll pan, or prepare a turkey with stuffing.
Some
environmental advocates, questioning the value of large kitchen appliances, say
that Americans ought to imitate their European counterparts who are more
accustomed to smaller refrigerators and appliances.
Interestingly,
because I invest heavily in the Internet portion of my business, I regularly
receive inquiries from European buyers who later tour local listings in my
presence. Do these customers gasp in disgust at the sight of large
refrigerators with water dispensers and ice cube makers? No! They gush at them,
for truly kitchens represent the heartbeat of homes across the world.
In addition, it
is worth noting that Americans traditionally shop for groceries once weekly, as
opposed to the European practice of visiting the markets two or three times per
week. As a result, Americans quickly recoup any added refrigeration expenses in
saved gasoline costs. Besides, home buyers and developers interested in energy
conservation can always invest in Energy-Star appliances, which by definition
use at least 20 percent less energy than federal government requirements, for a
given size of appliance.
In the past, it
is possible that some of the perceived value of kitchen appliances derived from
status symbol. Today, however, the value comes from function and utility. More
and more Americans eat and entertain at home, saving restaurants for the most
special occasions. The incentives to eat at home are particularly relevant in a
state like Minnesota where groceries are exempt from sales taxes at the same
time our downtown restaurants are pummeled with sales taxes as high as 10.77
percent.
Given the New
Frugality, spending money on kitchen appliances is not only not a waste; it's
an investment likely to increase the resale value of your home even more than
it did before.
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