Home Selling in Mission Bay>Question Details

Pinky, Home Buyer in San Francisco, CA

Bought a condo in mission bay. Will upgrading to expensive carpet in the bedrooms and oak hardwood floors in?

Asked by Pinky, San Francisco, CA Mon Mar 10, 2008

the living areas worth the extra $$$? I want to add value as I plan sell it in 5 years.

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Hi Pinky,

I just purchased last summer in Park Terrace, mission bay. I didn't have the hardwood floors put in but I will be doing so before I sell. My carpet is getting wear and tear now but I will be upgrading to hardwood for sure before I sell. I recently had my place reappraised and the appraised value was up significantly over the past 6 months.

My advice is: don't do it just for the investment aspect at this point. If you WANT the upgrade, go ahead now.

The benefit is a mixture between your personal enjoyment and investment. If your unit is highly luxurious, there is a deep market for such units in San Francisco. It's the starter properties and lower priced ones that are being hit by the subprime crisis.

Other than simply wanting the upgrade, it depends on how long you've been in the unit, when you plan to sell and what the market is like. If you would like me to send you market information, let me know the address and unit, I will send you a market analysis. Bwilliams@ubayp.com or give me a call and I'd be happy to discuss it with you.
0 votes Thank Flag Link Thu Mar 13, 2008
Dear Pinky,

Please ask your realtor first as he/she knows which unit you purchased. Updating at this point in time is for your use and enjoyment as noted by Jed. The updates today will be older and show wear and tear by the time you sell. Most people prefer all hardwood today as it is easier to keep clean - in five years, who knows?

Good luck!
Cheers,
Sally
0 votes Thank Flag Link Wed Mar 12, 2008
Anything you do now will be for your benefit as it should be. When it is time to sell you need to look at what your competitiion is and then do what is needed to be the first one bought. Really not necessary to worry about the unit now. If I were you I'd be involved in the community to build a vibrant attractive neighborhood that wiil be attractive to prosective buyers in 5 years. That is where your biggest payoff will come from effort put in now. Tree plantings, park preservation, working with the developers on amenities, support local vendors etc.
Web Reference: http://www.jedlane.com
0 votes Thank Flag Link Tue Mar 11, 2008
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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What does your Realtor say? Ask them as they may have the best answer since they (I assume) saw your place.
Web Reference: http://www.sfcondomap.com
0 votes Thank Flag Link Tue Mar 11, 2008
Pinky
The areas that appeal to most buyers are Kitchen, baths, then overall appearance. I can email some specifics if you like. The bottom line is, I would upgrade, now, so you can enjoy it while you like there. The payoffs are a bonus when you sell.

Great planning!
This may help you.
Go to realtor.org and type in home improvement
0 votes Thank Flag Link Mon Mar 10, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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