Home Selling in 43229>Question Details

kathytrad, Other/Just Looking in Howard, OH

how much should a house be updated before selling?

Asked by kathytrad, Howard, OH Fri Jun 7, 2013

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The simple answer is you should get a $ 1.20 - $ 1.50 of sale value for every $ 1.00 you spend in prepping a house for sale. An experienced agent who knows your area should be able to walk-through your home with you and discuss what to do and what not to waste money doing. Clearing, cleaning and painting remain the biggest three improvements to do and only cost you time. They may also make you money.

After picture homes are usually easier to sell and a lot of agents push owners to do a lot before marketing the home. The downside of big updates is you need to recover the cost of those updates and more. If those improvements only increase your sale price by a cost less than the improvements cost, you not only lost money but may have lost the opportunity to do other things with those same funds.

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0 votes Thank Flag Link Wed Jul 23, 2014
The CMA is the best guide in determining what will need updated in order for the home to sell at a competitive price. My simple advice would be to do the small things that add the most dollars and to ask for feedback from potential buyers who have seen your home. Buyers tend to like the winner of the beauty pageant.
0 votes Thank Flag Link Mon Sep 30, 2013
From a lenders standpoint. You can sell your home as long as you can get an "as is" appraisal and everything is up to code.
0 votes Thank Flag Link Tue Jun 25, 2013
This depends on the area in which you are selling. If the homes are 10-15 years old, basic updates such as lighting, sink fixtures, electrical outlet and switch fixtures, along with the kitchen if you are looking for top dollar. The second most important feature I see when working with buyers, is the bathroom. Check neighboring homes that have sold or are currently on the market and compare interiors. If you do not wish to outlaly a large amount of cash, do the basics that make the most impact and list on the lower end for quick sale.
0 votes Thank Flag Link Fri Jun 7, 2013
Great question! Like the others have said, it completely depends on your direct competition in the area. It also depends on how "outdated" your home really is. You don't need touch screen refrigerators or clap on showers in the master just to sell :) However, if your carpet is absolutely horrible- I would recommend replacing that. It really just catches people's eye. If you have pets, I would suggest offering a credit for new carpeting when you sell- that way it is a selling point and the potential buyers know they will have fresh carpet. I also recommend focusing on the kitchen. But, then again, it really depends on the condition of your home and your competition. If you would like me to swing by and give you a free consult please email me at Rachel.Dunham@HERrealtors.com. Thanks!
0 votes Thank Flag Link Fri Jun 7, 2013
Hi Kathytrad

Thank you for such a good question. The best way to determine, for you, on how much your home should be updated is to get a hold of your agent and view homes that you will be directly competing for buyers with and look at homes that have sold. Look for what amenitis they had, how long it took to sell the home and how much their home sold for. Each area will be a little different and at what price point your home is in is important too. Also remember that you may not recoup your total cost of the updates and upgrades but they will help in getting the home sold faster for more money in the long run.

All the best,
0 votes Thank Flag Link Fri Jun 7, 2013
Depends on the comps in the area and what your return on investment would be.
I usually suggest doing everything or nothing.
But that question is very specific to each situation.
0 votes Thank Flag Link Fri Jun 7, 2013
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