As a seller in this difficult market, I'm balancing between upgrading enough to be competitive and yet not tossing money down a rathole. If I was planning on living here a few more years, then the upgrades would be for me and that could be a part of the equation and all I'd have to worry about is not over-improving for my area. As it is, we've done a minor kitchen upgrade, painted, upgraded the fixtures in the master bath and are planning on replacing the worn appliances and now I'm starting to think that it's time to stop. We have a lot of equity in the house, but there's no point in giving $$ away and we WILL put a realistic price on the place and plan to be one of the lowest prices per sq/ft in the area.
Anyway, thanks again for the replies.
It really depends on how bad the carpet is......If it's so bad it seriously detracts from the customer's ability to view the property objectively, then replace it.
But if it isn't going to create issues.....wait it out.
Finally, most will see your photos with an old berber carpet and NEVER even read the comments that would explain the carpet allowance.
Therefore, as a seller, you want to be the "shiny penny" in the group. If cost is an issue you can get a nice (apartment grade relocation beige) carpet with a higher grade padding for the look and feel of a more expensive grade. Many dealers are offering a 6month same as cash deal also so it is possible that you will not need to make a payment before closing.
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It is a hard question to answer. Your question refers to your carpet but I would ask you; How is your paint? How is your yard? How is your kitchen? How are your bathrooms? What is the price range of your home?
If it is only your carpet that is getting worn, my advice would be to replace it. Also, do not replace it with the cheapest carpet you can find. It makes sense to install at least a medium quality carpet. "First impressions are lasting impressions"
At the end, when Buyers take a look at your home they will evaluate all the money they have to spend to redecorate your home to their taste, immediately or in the future, and they will reflect it on their offers. In this kind of a market, everything is going to boil down to your price. If your price is competitive and is reflecting the money the Buyer has to spend to get your home looking like new, then, you will definitely sell your home.
If your home looks great and the carpet is the only problem I would say, replace the carpet. Good luck.
Good luck! Hope everything goes well for you!
If you decide to give an allowance, get a few samples from the carpet company and display them in the house for the buyer to choose.
Another hurdle you may encounter is if their lender will only allow a certain allowance amount.. May be the carpet won't be covered. So you may ask the buyer to choose which carpet and then once the documents are at the title company you can have it installed before closing. That way, you are sure they are going to close and they don't have to worry about that after closing.