Remodel ourselves?

Asked by Juli Lee, San Antonio, TX Mon Aug 25, 2008

My husband and I are relocating to Austin and are really trying to decide between a "fixer-upper" and a home that is already remodeled. We are really interested in Barton Hills, Zilker, and Hyde Park. Does anyone have any insight into the construction market in Austin and whether we would be better off one way or the other?

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Josh M. Boggs, Agent, San Antonio, TX
Mon Aug 25, 2008
Good evening Juli,

Obviously you are looking for a more local answer for your question from someone is Austin... may I suggest Josh Thomas.. he seems like he may know a thing or two about those areas you mentioned.

However, you did also mention you were relocating and it says you were from San Antonio, so I will actually ask you a question about your selling side and then perhaps you may already get your answer?

If you haven't already put your home on the market; would you take a gamble and put your home up for sale w/out cleaning it up or perhaps remodeling some old and outdated features in the house? Let's play real estate: If you knew that your house needed about $10k worth of repairs and/or upgrades, but decided against it; how much lower do you think you will now have to price your home to be competitive? $10k? $15k? or even $20k? The answer is un-certain as it still has to do w/ what's going on in your local neighborhood, but the facts still remain: there is much more inventory than there are buyers, so buyers have the upper hand. I've seen buyers love the house completely, but did not like the 3 yr old fancy carpet installed; therefor they thought that was worth asking for a large discount from the price because it looked too worn for their taste.. guess what.. they GOT IT!!

So, bottom line is this.. if you feel like you could take the time and the money to have the remodeling done post move-in, then you probably should be looking to land a healthy deal on the buying side. Otherwise, if the house is decked out to the hilt and is priced right; then you may end up paying full price and even being in competition w/ another buyer that wants the same "move-in" ready house.?

Just my thoughts... best of luck
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