tiny living room. To resell, should I put that wall back up? Is it better to have a 2/2 home with a relatively large living room; or a 3/2 home with a tiny living room?
I list and sell a lot in the Maryland Heights area. It can be difficult to sell 2 bedrooms homes as most buyers will start their search with a computer criteria set for 3 bedrooms. If you lie to them in the MLS and pretend that it is a 3 bedroom and they get into the home and discover it's really only 2 bedrooms, they will feel cheated. a 3 bedroom will have a higher selling price than a 2 bedroom as well. what is the typical compromise in this area is to finish the basment with a large family room/great room/living room. Sorry, but if you sell as a 2 bedroom, you will have to sell at the much lower price of a 2 bedroom and that is typically the point that causes most to put the wall back up. when you put it up, do so professionally, or it will be a negative considering all the competition on the market at the moment in the area.
Heather
I think it depends how it looks best.
From the sales standpoint a three bedroom home is the most popular.
I would consult with your Realtor and look at some other two and three bedroom homes that you'd be competing with to see what made the most sense.
Obviously, you preferred the bigger living room to the 3rd bedroom when you bought. It may be what makes your house stand out from others in the same area and be it's strongest selling point. Putting the wall back in prior to marketing the house seems counter-productive to me.
I would need to do a little research on what the current competition is in your area and see the house in person to give you the best possible answer. In general however, a 3 bedroom home ususally will sell faster and for more money than a 2 bedroom home. Some agents will tell you to advertise that you would be willing to change it into a 3 bedroom home if needed prior to closing. I strongly disagree with this approach. In my opinion this is not the first impression that you want to give to a buyer when they start looking at your marketing remarks on the internet. It just screams work needs to be done! When I go out to a listing appointment I explain things like this in detail. When you interview agents get their opinion on what you should do and make sure that they explian why they think it would be best to approach it that way.
Hi Heather-
Another alternative would be to get a bid from a couple of contractors on the cost of reinstalling the wall. Offer the home as a 3 bedroom with the understanding that the wall will be installed before closing (at your expense) at the buyer's request. Possibly a potential buyer will prefer to have the larger living room. Single people or couples with no children may find the home more attractive just the way it is!
Most buyers are looking for at least a 3 bedroom single family home in today's market, but 2 bedroom condos are selling well also. Your seller's agent should compare your home to what is the "norm" for your subdivision or complex and be able to advise you as to what is best for your particular situation. Most likely a three bedroom would sell faster and for more money.
It is better to have 3 bedrooms, so if you have the time and the money it is better to make it back into a three bedroom. Pete
Listing agent will be able to compare your home with others in the area. In most instances with home office used a 3 bed 2 bath usually more desired.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
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