Home Buying in 10312>Question Details

myoldgoods, Home Buyer in Staten Island, NY

If a home has 80-90's style kitchen & bath what percent below ask price would u discount each room for ultra modernization?

Asked by myoldgoods, Staten Island, NY Mon Aug 19, 2013

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9
There are other factors involved in determining a price; therefore it's really in your best interest to invite a few local agents from different realty companies and ask for a cma, comparative market analysis; review the data, ask opinions and go from there....
1 vote Thank Flag Link Mon Aug 19, 2013
Hi,
There really is no appreciation value for your modern kitchen or any types of upgrades that are done to the home. Homes are valued based on size, location and condition what comprable houses in and around the home area are selling for. The concept that these upgrades bring value; would apply only to the person who would like your exact taste or prefrences. Most buyers make personal changes to the home to there likes. Hope this helps you. If you have any questions or would like a free market analysis to see what your home would sell for please contact me direct , I am happy to help.
0 votes Thank Flag Link Tue Jun 17, 2014
I would price the home in accord with area, not the décor.

You can do some things that will make the kitchen and bath shine:

New knobs on the drawers and the cabinets. New faucets. New light fixtures, New mirror in the bath.

Flooring should be cleaned and polished. And never underestimate the power of a fresh paint job!


Much Success to you.

Kawain Payne, Realtor
0 votes Thank Flag Link Mon Sep 30, 2013
It depends on what is for sale in your area (comps) and the general condition of the property. Get an estimate on remodeling and go from there.
0 votes Thank Flag Link Wed Aug 21, 2013
If the 'asking price' is reflective of the condition, submitting a low-ball offer will not work to your benefit.
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From what you decribe as your objective, to make each room ULTRA MODERN, it does not matter what the existing stlye is....YOU ARE GOING TO GUT THE PLACE.
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Based on this, you should find the home with the lowest price, even in the worst condition, make the hardest offer, take the bank to the cleaners, and celebrate.
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Your understand, for you being outdated or trashed should not matter, you intend to start from ground zero and make it Untra Modern.
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There are other dynamics that must be taken into consideration. A local professional is the best source for evaluating how these issues can influence your goals.
0 votes Thank Flag Link Mon Aug 19, 2013
The value of a homes are usually determined by the comparable's in the area and what a home will appraise for usually you will get lower offers if your kitchen and baths are dated but I would interview a few realtors and see what there thinking. Also when considering updating keep in mind that when you update your home chances are you wont get your investment in return. The cost of update is usually more then the return. I would say that you should list it as is and be open minded when you receive offers

Thanks Felix
(917)692-7702
0 votes Thank Flag Link Mon Aug 19, 2013
Everything in the eyes of the beholder? Don't cross the bridge if you don't have to. If you kitchen and bath are in good condition, that may not be an issue. However, some of the Buyers are very picky so you resolve the situation as you go. Here is the thing, every remodeling means cash money and it is a serious consideration when you buy a house. This type of renovation are considered to be a Big items and they get an extra consideration. Listen to your Realtor and don't loose the sale because of it.
0 votes Thank Flag Link Mon Aug 19, 2013
That is my advice exactly. Don't do the work because the prospective buyers might be looking for a totally different type of kitchen then you pick
0 votes Thank Flag Link Mon Aug 19, 2013
I would not lower the price but be prepared for a lower bid on the house. If you lower the price up front the buyers will try and lower it again. Get an estimate for a new kitchen and consider that when the bids come in.
0 votes Thank Flag Link Mon Aug 19, 2013
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