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Our realtor worked with a construction company that specialized in fixing up homes for sale. It cost us $13,000 which included painting the interior and exterior, cleaning the carpets, installing granite countertops, putting in new doorknobs and door hinges, refinishing the hardwood floor in the entry way and landscaping the yard. We spent other money replacing the fridge, stove and dishwasher plus a new light fixture for the kitchen and a new range hood for the stove. Also, we had to replace a window blind.
While our house was on the market, a house down the street was also. That house was bigger than ours and had a bigger lot. However, the owner did nothing to fix up the place. He didn't even clean the carpets or paint the walls! He had an unfinished basement while ours was partially finished. It took him a long time to sell because he unrealistically thought he could command a high price. In the end, he sold his house for only $100 more than ours after weeks and price adjustments.
We, OTOH, had 3 showings and the house sold for asking in 6 days. The guy who bought it tried to lowball us but we stood firm. We had our realtor tell him that we were sticking to our asking price and he could take it or leave it.
And, yes, in the end, we were glad we put money into it as I know without having done that, it would have lingered on the market and sold for a lot less.
This is a great thread! I am in the middle of getting our house ready to sell. It's been the plan for the past few years and we've been updating and making repairs.
We've spent $700 on a new sprinkler system, $450 on sidewalk and driveway repairs, $80 on grass seed/fertilizer/yard work and $600 on handyman/electrical repairs. I have done all the painting so it's just the cost of supplies.
In the past 2 years, we updated the bathroom counters, redid the master bath, replaced some of the siding. and bought new appliances last fall. Since we've been here 12 years, we have updated lights, faucets, floors, a/c, windows, and roof from an insurance hail claim. It should sell in mid-upper 200s.
In our next place, I will definitely be paying close attention to the systems and exterior updates. Based on the costs, we'd much rather update lights and faucets!
I’d say we spent about 10k, 7k of which was painting and drywall repair for the interior and exterior. The rest was spent on supplies for the remodel of our two bathrooms. It sold for more than we originally figured it would, so we were very happy about that.
Our realtor worked with a construction company that specialized in fixing up homes for sale. It cost us $13,000 which included painting the interior and exterior, cleaning the carpets, installing granite countertops, putting in new doorknobs and door hinges, refinishing the hardwood floor in the entry way and landscaping the yard.
So does your realtor just recommend the construction company or the realtor actually works with them to manage the project?
My neighbor moved out of his house and left the realtor to manage everything, including construction bidding, approval, payment, finalizing,... I am not sure if they have some arrangement to pay extra for the realtor.
So does your realtor just recommend the construction company or the realtor actually works with them to manage the project?
My neighbor moved out of his house and left the realtor to manage everything, including construction bidding, approval, payment, finalizing,... I am not sure if they have some arrangement to pay extra for the realtor.
The realtor brought the construction supervisor to our house and we (my husband and I) sat down with them both and discussed what they thought needed to be done. We did have questions about certain things they wanted to do as we wondered if they were really necessary. In the end, we went with what the realtor recommended since he had years of experience. The jobs that the construction company gets come primarily from the realty firm. The realtor did stop by everyday to check on the progress. We, too, wondered if the realty firm got a kickback... Some people advised to find our own company but we figured that would be a real hassle.
We did give the company a check for half the amount and paid the rest when the work was done.
BTW, we had to stay in a hotel for 8 days while the work was being done. Originally, it was 7 days but once when we stopped by to check on the progress, the construction supervisor told us they needed an extra day. When we moved back home, we discovered small things that didn't get done and the company came by and fixed it all. The realtor also looked at the work that was done and did catch some things that were overlooked. He immediately called the construction supervisor about it.
After we moved back in the house our Verizon Fios router died and it had to be replaced. The new one was much smaller so there was a spot that needed to be painted. The construction company came back to do it.
Someone suggested just refusing to fix anything requested, but not advertise it as such... Does that really fly???
Also, amending my answer to say that I WILL have it professionally cleaned first. Just because I have pets and would be embarrassed otherwise!
You can always handle that in the negotiations rather than saying it up front and scaring people off. When I sold one place, an inspection found $2,000 in termite damage in the basement- a perfect example of something I didn't know and the buyer wouldn't have known prior to making an offer. The house was listed at over $500K. I lowered the price by $2,000 and the sale went on. If you have buyers who want every little thing in the inspection report fixed, or who want issues that were obvious before they made the offer (cracked sidewalk, older roof), you can refuse.
You can always handle that in the negotiations rather than saying it up front and scaring people off. When I sold one place, an inspection found $2,000 in termite damage in the basement- a perfect example of something I didn't know and the buyer wouldn't have known prior to making an offer. The house was listed at over $500K. I lowered the price by $2,000 and the sale went on. If you have buyers who want every little thing in the inspection report fixed, or who want issues that were obvious before they made the offer (cracked sidewalk, older roof), you can refuse.
My house is nearly 150 years old, so obviously it's not going to be perfect. But I like the idea of refusing "privately" versus publicly. Thanks!
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