If selling home (1958) is it wise to remodel the kitchen and bath etc. before putting on mkt? Does it make a difference in selling price?

Asked by nanders, Lakewood, CO Thu Nov 1, 2012

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This question was asked from this property: http://www.trulia.com/property/3079284580-437-S-Ingalls-St-L…

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12
Maria Cipoll…, Agent, Coral Springs, FL
Fri Nov 2, 2012
You do not have spend a lot of money remodeling the kitchen and bathrooms on your home in order to sell it. First impresions count. Make sure that the curb appeal of your property looks appealing to most buyers, add a lot of lighting, paint the walls with neutral colors, change the kitchen countertops, cabinet's doors and new appliances.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
2 votes
Caleb Hart, Renter, Orem, UT
Wed Jan 21, 2015
It all depends on the buyer. I remember when I was in the market for a house, I did not want a fixer-upper. It was hard enough to fix the things wrong in my apartment, let alone a house. A remodel would have been attractive to me at the time. http://www.ksquaredconstruction.com/residential
0 votes
Hank Wilson, Agent, Bowling Green, KY
Mon Feb 24, 2014
Remodeling is often attention catching and can remove some former obsolescence. With older homes it is something that may not add the exact value you put in to it, but it can however get a home sold that would otherwise sit on the market with no offers.
0 votes
The Dixon Gr…, Agent, Denver, CO
Mon Feb 24, 2014
Remodeling is always a huge plus because that is what buyers are looking for- Updated and Move in Ready. It can increase your selling price drastically especially if you create a bidding war around your home and receive multiple offers. Have you gotten the sewer scoped? Homes that old in our market often have sewer issues that can cost a few thousand dollars. Good Luck
0 votes
David Nelson, Agent, Denver, CO
Wed Nov 6, 2013
I was a General Contractor for 10 years before becoming a Realtor (my back thanks me every morning for the change in employment!). The company I owned specialized in kitchen and bath remodeling. This gives me a unique perspective on your situation. I have viewed the home on Trulia and I can be very direct in my answer: you will be much better off selling this home as is rather pouring all the blood, sweat and tears (and cash) necessary to bring it up to "move-in ready" standards. Even the most effective "bang for your buck" remodel will return at most 70-80% of the cost in enhanced home value. Put another way, if you put $20,000 into bringing this home up to today's standards, you would, at best, get $14,000 - $16,000 back in enhanced home value. I would budget an amount not to exceed $1,000 to do the most cost effective improvements. This would include fresh paint and repair of the obvious items. And I would make sure that it was "hospital clean" and totally clutter free. It should be well lit, bright and cheery. I have worked with a number of Buyers and Sellers in Lakewood and know the market well. Please call me at 303-994-5815 or email me at kwdenverhomes@gmail.com if I can be of any service to you.
0 votes
Patrick Murr…, Agent, Greenwood Village, CO
Sat Jan 12, 2013
Look at this link for return on home remodel investments: http://blog.homegain.com/category/home-improvement-surveys/
0 votes
Terri Vellios, Agent, Campbell, CA
Thu Nov 1, 2012
That is an adorable house and it looks like it has already been remodeled. The benefit is that the home is turnkey and a buyer may not have objections because it is outdated.

Not all buyers have left over cash to repair or update a home, so when it is done it is more marketable. An appraiser is going to give it more value as well.
Web Reference:  http://www.terrivellios.com
0 votes
Robyn Phipps, Agent, Arvada, CO
Thu Nov 1, 2012
There's a fine line when updating a home specifically to sell. What is prudent to complete is also based on the area what comparable properties are offering. The goal should be to keep your investment to a minimum and get the max return.

It will most definitely make a difference in the selling price, as others have mentioned, but some areas demand that the home have more updates, others tolerate more moderate updates. The specific neighborhood you're in certainly has more leeway, as your target buyer isn't going to expect granite countertops and Cherrywood cabinets. That said, circa 1950's appliances, could ensure your time on market is longer and your wallet is lighter.

Consult an agent who is knowledgeable on the local area and they'll most certainly tell you how to get the most 'bang for your buck'.

Best of luck!
Robyn Phipps, Keller Williams Avenues
0 votes
J. Scott San…, , Lakewood, CO
Thu Nov 1, 2012
Those two rooms can sell a home. If they look good and your competition does not it can tip the scale in your favor-just don't go overboard

Kathy Sangster
Metro Solutions
303-332-3847
0 votes
Camille Bonn…, Agent, Littleton, CO
Thu Nov 1, 2012
You can make more money if you remodel first and absolutely. It makes a huge difference on price and length of time on market etc.
0 votes
Trish Kelly, Agent, Denver, CO
Thu Nov 1, 2012
Hello, It absolutely makes a difference in the selling price, but you have to be careful because you don't want to over improve for the neighborhood. I don't live very far from you, if you'd like me to take a look. No strings attached:)
0 votes
Alan May, Agent, Evanston, IL
Thu Nov 1, 2012
remodelling a kitchen (or bath) does make it easier to sell the property. But you rarely get 100% of your remodelling expenses back in the sale.
0 votes
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