Remodel & Renovate in Salado>Question Details

Alice Taylor, Both Buyer and Seller in Salado, TX

We have 10 year old Berber carpet in nice house and we're selling this spring.

Asked by Alice Taylor, Salado, TX Sun Jan 25, 2009

The carpet is in good condition, but let's face it. It's 10 years old and is getting worn. What's the best strategy for selling my home this spring? Replace the carpet with a cheaper pile or offer a carpet allowance? I say offer an allowance and let the buyer decide whether to change the carpet or use the allowance elsewhere. Husband says to change the carpet out so the house looks fresh and no allowance. What do buyers want? Carpet or cash?

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Answers

7
DON'T invest in new carpet! As a Realtor and an investor, there is nothing more heartbreaking than upgrading a home and having the new owner come in and rip out the upgrade immediately. Don't offer a credit upfront......price the home appropriately and let the buyer negotiate it ig desired.
Web Reference: http://www.cindihagley.com
1 vote Thank Flag Link Sun Jan 25, 2009
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
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I'm getting some really good comments here. Thanks for all of your input.

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.
0 votes Thank Flag Link Mon Jan 26, 2009
Alice,

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.

Good luck
0 votes Thank Flag Link Mon Jan 26, 2009
I live by the motto that a home must be move in ready. First, there is no substitute for the look and smell of new carpet.. Secondly, buyer's will almost always choose more expensive carpeting than you are willing to pay for and if your allowance does not cover it then they are looking at money out of pocket. With the economy the way it is most cannot afford to contribute more than the down payment and closing costs.
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.
For more tips on getting your home ready for sale visit my website.

Cathy Beckerman
0 votes Thank Flag Link Sun Jan 25, 2009
Alice:

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.
0 votes Thank Flag Link Sun Jan 25, 2009
Alice, I've seen time and time again where buyers want to negotiate lower on the price because the house isn't in perfect condition and THEN still want the carpet allowance. Typically they will also want a more expensive carpet than you are willing to put in. Builders use carpet that is inexpensive, so even brand new homes have carpet that isn't the greatest, but buyers do't realize that and insist on a much, much more expensive carpet. Another thing to think about is that if the house doesn't show to be in great condition some people won't be able to look past it at all and you run the risk of having the house on the market longer. The longer the market time the more likely you are to accept a less than optimal price.If I were selling my own home and had the same situation I would happily replace the carpet and have it show and sell quicker and for more money.

Good luck! Hope everything goes well for you!

Chris
Web Reference: http://www.ChrisTesch.com
0 votes Thank Flag Link Sun Jan 25, 2009
It's a tough one because some people are just not visual and will offer you a lot less just because the carpet is not "brand new". It would also depend on how worn out it is. Get a couple of Realtors to come look at the home and give you their opinion on the market and what to do with the carpet.

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.

Good luck,

Naima
214-289-8555
Naima@Sumner-Realty.com
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Sun Jan 25, 2009
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