Long story short we have been in our first house for 15 years because we like the area/neighbors and to this point didn't just have to have more space. Well it is time. Speaking very generally, is it better to "fix up"/"update" things before listing, or just throw some new paint on the walls and let the buyers worry about all that. I know there are a lot of variables involved, just curious about some of your experiences from a ROI standpoint. Thanks guys(and yes I plan on consulting a professional that knows my local market):toast:
House selling question
- Thread starter UGA12
- Start date
If you have major issues....cracked foundation, outdated kitchens and bathrooms, old broken windows, etc.
You will have a very difficult time selling your home unless you drop your pants and let them lowball you to death. If it's minor things, you are OK.
My wife sold real estate here in NY for years and that's the way it goes here. Possibly different by you but I think it would be the same story.
You will have a very difficult time selling your home unless you drop your pants and let them lowball you to death. If it's minor things, you are OK.
My wife sold real estate here in NY for years and that's the way it goes here. Possibly different by you but I think it would be the same story.
Like Zoomer said......... Kitchens and bathroom should be updated and also paint does wonders. Carpeting is usually not real expensive to replace as well. Find a good handy man, research and look at BBB for problems. I just went through this with a rental that we sold. Subway tile is now a big thing for the millennial's who would be most likely looking if your home is not over 3 bedrooms! Good luck, is definitely a process........ :0074
If it aint broke, dont fix it.
If you need to paint make it neutral colors.
Best thing I did when we outgrew our first house was to rent a storage unit and get out all of the unnecessary items that were stored in basement, garage, and closets out, so there was no clutter when prospects looked at the place.
If you need to paint make it neutral colors.
Best thing I did when we outgrew our first house was to rent a storage unit and get out all of the unnecessary items that were stored in basement, garage, and closets out, so there was no clutter when prospects looked at the place.
- Mar 19, 2006
- 38,197
- 371
- 83
- 74
go on zillow.com and do a market survey for your area..
it will give you a real good idea of what the homes around you are improving to sell and at what price..
it will give you a real good idea of what the homes around you are improving to sell and at what price..
Definitely not talking about things like broken windows or cracked foundation or anything major, but more the updating of appliances, fixtures and such. I can see new carpet and new paint if needed, but when you start talking about overhauling kitchens and bathrooms you start getting into a lot of money that I do not think you would get back, but again thats why I am looking for experiences.
It may also depend on what you are competing with in your area? Do you have new home construction in your neighborhood? If not, you may be able to get away with paint and carpeting..... your agent will be able to give you direction with that.
No neighborhood, which is biggest reason we have stayed this long. Nothing new anywhere around.
- Mar 19, 2006
- 38,197
- 371
- 83
- 74
come walk through time this is critical
along with anything on the walls or furniture you absolutely don't need.
any clutter inside on shelves ..bathrooms ..kitchens..bedrooms..dens
pictures on the walls...those you don't need remove..space makes eye room..
new carpet if necessary Crisp Linen [color] being one of the Favs of Agents ..
outside.....cracks...chimney..if you have one..inspector will look....trim...paint...on house..
when I got real sick one of the Real Estate Agents that I did Landscape for looked out for me like I looked out for him for 15 years ...He waited until I got well and walked me thru every inch of my home and typed up every single thing that needed to be done ...and what DIDN'T NEED TO BE DONE......
Thankfully we didn't have to sell.....
I bought & sold property for years (20) & the rule of thumb that I used was to get the property that I wanted to sell in a condition where I would buy it....And to be more specific as others have said make sure you upgrade the kitchen & bathrooms....
Good luck!
Update bath and kitchen fixtures, update ceiling fans, money well spent, neutral paint where needed.
Carpeting, you can always give an allowance upon sale, gives the buyer the opportunity to pick and choose....
Carpeting, you can always give an allowance upon sale, gives the buyer the opportunity to pick and choose....
Check with a couple of Realators and see what the market conditions are in your area... They will tell you if you should do any upgrades and what your selling range should be, good luck....:0008
Invest a little of your recent tennis winnings and paint the kitchen cabinets , replace the countertops if needed w granite and paint the home interior. Replace carpet if needed. Remove clutter to storage space or have yard sale. Have home preinspected and fix a few problems especially if you find mold in crawl space. Offer a good 1 yr home warranty w home. Best advice is to price the home to sell.
A friend of mine sold his mom's home after she passed. They spent thousands updating the kitchen with new cabinets, flooring, appliances, etc. The new owner tore it out because it wasn't what they wanted.
I think getting rid of clutter, and a top to bottom deep cleaning is all you need to do. The potential buyers will let you know what they want done, if anything. If they want you to paint or want new carpet, knock that off the price and let them do it themselves.
JMO
I think getting rid of clutter, and a top to bottom deep cleaning is all you need to do. The potential buyers will let you know what they want done, if anything. If they want you to paint or want new carpet, knock that off the price and let them do it themselves.
JMO
This kind of nails it Lowell from our recent experience
We sold our house in May that we had built in 2001.
We painted cabinets and front door. Painted walls where needed. We did not upgrade our countertops or island to granite, but they were very neutral in color and worked with the newly painted cabinets. Our Master bath was also very neutral, mainly white. We had black appliances that were in good shape that we did not replace.
Fyi the wooden cabinets, oak in color were painted a yellowish tan on recommendation of the designer our realtor brought in. I hated it but was informed that my sense of fashion my not be as mainstream as I believed it to be. She swears that's what sold the house.
The Pre-Inspection Lowell talks about. I remember our realtor recommending it but said that once we do the inspection then we must provide it to perspective buyers. We went ahead and did it as we didn't want to get surprised by some major issue that we were unaware of. It is something I would recommend as well as it lays out issues that need to be addressed. I can also tell you that just because it is in the report, that it does not mean that it needs to be replaced or fixed. I repaired the easy ones and then waited to see what the buyer asked for from the report. A few of the items on our report were not brought up by the buyer and ended up being moot.
From the inspection we
Replaced the back door.
Replaced toilet ring in hall bathroom
We still had the original A/C unit. The report said that unit was beyond expected life span. It runs fine, but is old. I didn't replace it but we did lower our price that we wanted to reflect it and then made sure that our realtor pointed out the fact that the price was a dollars per sq/ft lower than the comps to reflect it.
On top of that we offered the best 1 year warranty which was $600-700, which meant they paid $50 for a site visit if something went out with full replacement on everything that was available to be covered by the warranty.
There is 1 trick though that I thought really helped the house out appearance wise and that was changing all of the light bulbs to "day light". It's a whiter light (not yellow) and I felt like it made the rooms brighter which was along the lines of what the realtor designer advice.
We sold our house for the asking price 45 days on the market. We listed late Feb/Early March but could have waited until closer to April in hindsight since our house was going to sell to someone with multiple children and they would be waiting until the end of the school year before moving.
Good luck
I sell real estate and have a mortgage company currently and have been for 15 years. Most of these comments above I can get on board with. It really depends how dated the place is as to what I would spend.
1) 90% of the time a buyer (especially if a female is involved) will repaint and replace any and all carpets.
2) Kitchen is #1 place to upgrade if you choose
3) The home inspector will find issues so I would wait and see what is requested when the seller buys this service before spending a lot on minor issues
4) In lieu of an allowance for new carpet or paint or whatever....phrase it as "Seller will pay $XXX of buyer's closing costs and prepaid items" From a lending standpoint, this is straight cash the buyer keeps in their pocket at closing. If you did an allowance, you could get into an issue where the work has to be done and a headache of a paper trail to prove it to the loan underwriter.
5) Don't forget the outside....curb appeal is nice.
6) Regardless if you have pets or the house is old....most people's houses have some sort of smell. Get a candle burning prior to showings or open houses.
7) If you have pets, do what you can to mask this....another reason buyers usually get all new carpet
Hope this helps!!!
1) 90% of the time a buyer (especially if a female is involved) will repaint and replace any and all carpets.
2) Kitchen is #1 place to upgrade if you choose
3) The home inspector will find issues so I would wait and see what is requested when the seller buys this service before spending a lot on minor issues
4) In lieu of an allowance for new carpet or paint or whatever....phrase it as "Seller will pay $XXX of buyer's closing costs and prepaid items" From a lending standpoint, this is straight cash the buyer keeps in their pocket at closing. If you did an allowance, you could get into an issue where the work has to be done and a headache of a paper trail to prove it to the loan underwriter.
5) Don't forget the outside....curb appeal is nice.
6) Regardless if you have pets or the house is old....most people's houses have some sort of smell. Get a candle burning prior to showings or open houses.
7) If you have pets, do what you can to mask this....another reason buyers usually get all new carpet
Hope this helps!!!
Awesome info guys! A lot of what I was thinking and some stuff that never crossed my mind. Honestly not looking forward to it, but as said, it's time.
