Home Selling in Arkansas>Question Details

Leap Of Faith, Home Seller in Arkansas

Will a new roof & central heat & air unit result in a faster sale at a higher price to justify carrying costs?

Asked by Leap Of Faith, Arkansas Thu Apr 16, 2009

I have a home I'm about to relist after being off the market for more than a year now that some of the would-be competing inventory is under contract and clearing shortly. It's a top house in the neighboor in terms of location, curb appeal, and interior appearance/layout. I've already put in a new high-quality central heat and air system last fall. Now I'm considering replacing the roof, too. What kind of return should I expect on those two improvements--90% plus? Is it likely the combination of those improvements will make the house sell faster and for more money, assuming I price aggresively from day one? Without giving the specific location in Arkansas, can anyone suggest an average number of days to expect to be on the market assuming it's listed within by the end of May?

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From my experience with selling homes, making improvements and replacing the main components on a home such as a/c-heating, roof, water heater, updating kitchens and baths yeilds a faster sale and higher sales price as a home that needs updating and improvements. Keep in mind choosing the right agent with all the marketing tools is also you key component to getting your home sold.
0 votes Thank Flag Link Thu Apr 16, 2009
Recent online Cost vs Value estimates of the major market area of Little Rock indicates a 65 to 70% recoup on roof replacements. There most likely would be very little if any recoup of cost for the heat/air system since such items are considered standard in most markets now days and such upgrades/improvements do not equate increase dollar for dollar. Such items may attract buyers and influence how quickly the property may sell, But, the reaction of the market area which the property is located, regarding the contribution of such items/improvements/upgrades to the overall value of the property, determines the amount or percentage of increase or decrease in market value, and/or sale/purchase price, and is calculated using matched pairs analysis.
0 votes Thank Flag Link Thu Apr 16, 2009
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