Should I remodel my home before selling? As a Realtor, I am often asked this question. I was at a social event, sitting at a table with about 7 other

Asked by MJ Olsen, Rockport, TX Wed Aug 29, 2012

guests... before I could answer...other guests jumped right into the "discussion" of the pros & cons. After much discussion the group conclusion was: Minor repairs FIX it - ie. leaky faucet, have carpets professionally cleaned - would not replace. Would not upgrade kitchen, would not upgrade bathroom. Painting exterior/interior - would touch up the inside but not the outside. Curb appeal - would spend some money to plant flowers around front. Okay... so I said ... let me describe this house...it is about 12 years old, the kitchen has laminate counters, carpet is pale grey - has some spots but overall looks clean, bathroom looks a little worn but clean, front of the house has a tree, some green shrubs. Your expectations would be what. And THERE IT WAS... its all about the PRICE. Most felt that they would NOT recoup their money if they remodeled to sell... but would rather make improvements in their NEW home. REASON - MONEY- they could justify the costs and appreciate it.

Help the community by answering this question:

+ web reference
Web reference:

Answers

3
Ron Thomas, Agent, Fresno, CA
Thu Nov 1, 2012
The answer, I believe, is the state of the Market:
For the last few years, we have seen that the majority of Low and Middle Buyers, have been struggling to get into a house; we hear the related questions here on a daily basis:
They have little or no down. They can barely afford to buy. They have nothing left over for the three-month safety net.
These buyer do not have the money to refurbish an older house.
The lenders have created all these new loans with Re-Hab piggybacks, and up to 125% of Value.
But the bottom line is that these buyers want a turn-key house.
They are in the generation that "deserves" everything.
Just ask yourself; if you had two similar houses, with one up-dated, and one untouched; which house would garner more interest?
0 votes
Alissa Spears, Agent, Rockport, TX
Thu Nov 1, 2012
Before anyone remodels, they should contact their REALTOR first. What is important to a home seller, is not what brings the Buyers in the door.
0 votes
j chai, Agent, beaverton, OR
Thu Sep 27, 2012
If we want to get the best result, we need to calculate the efficiency on cost and dollar value. First find the estimate of the cost, then find out how much dollar value you can gain back. This is what I will suggest to my clients.
0 votes
Search Advice
Search
Ask our community a question
Home Selling in Rockport Zip Codes

Email me when…

Learn more