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More than one person has suggested to me that I won't recoup my cost for having a contractor paint my Florida house as I'm ready to sell it. Anybody around here feel that way too?
I'd say it depends. Is the exterior paint in obviously poor condition? Maybe you'll get a little more for it by sprucing that up because potential buyers won't wonder what other routine maintenance you didn't keep up with. If the paint and property in general are in otherwise decent condition, clean, and priced right it will sell whether you paint it or not. Many shoppers won't like your color choice anyway. If its not necessary to protect the structure why do it?
Last edited by Parnassia; 05-10-2021 at 06:39 PM..
Simple answer, painting might make the home more marketable but you won't likely recoup the full cost especially in this current market. Houses are selling much faster now so there is no need to put "lipstick on a pig".
More than one person has suggested to me that I won't recoup my cost for having a contractor paint my Florida house as I'm ready to sell it. Anybody around here feel that way too?
If the house isn't selling than doing a spruce up is in order. When my in-laws house didn't sell for several months on the market, we removed the carpets, shined up the wood floors, put fresh white paint on the walls to make it look more attractive and lowered the price, and it sold. No way to know if it made a difference, but maybe it did.
More than one person has suggested to me that I won't recoup my cost for having a contractor
my Florida house as I'm ready to sell it. Anybody around here feel that way too?
The question is whether the house NEEDS to be painted (and likely having 10 other things done)...
in order for people to look at it and not whine over the market price you're asking.
Recovering the costs involved in "making ready" really doesn't enter the equation.
You’ll be pricing it according to comps. If your house hasn’t had cosmetic upgrades for a couple decades, it’s probably not gonna sell as quickly, so painting would help. If the paint doesn’t look old, repainting probably won’t make a difference
More than one person has suggested to me that I won't recoup my cost for having a contractor paint my Florida house as I'm ready to sell it. Anybody around here feel that way too?
it depends on ....
who these people are, and their relevant expertise in residential real estate
as others have said - any house that NEEDS paint, especially exterior, because it's been a long time and paint is peeling, etc should be painted
have your Realtor send you the 5 most recent comparable sales. Look at the photos. How does your interior paint look compared to them. Did they all sell fast and for top dollar, even if the walls hadn't been touched in years?
These are all the questions to ask.
No, there is NO improvement that can be made on a house that you will get a $ for $ return on. If your house is worth $200K, $10K of painting doesn't make it worth $210K. $10K of new appliances doesn't make it worth $210K. A $10K HVAC system or a $10K roof doesn't make it worth $210K.
The real ? is - does the condition of said item DETRACT from the appeal and thus the value of my home?
I was recently in this situation and decided to paint the interior before selling because the house was in a state of disrepair. I do believe I recouped the cost, but there is no real way to know what the house would have sold for if I did not do it. I ended up spending $10k to get the house ready, all in, but the house looked so gross before I did it, I think it made a $50k difference. It didn't make my house worth $50k more; the run-down sections made the house worth $50k less, so it just restored the house to what it would be worth in good condition.
I would say to focus on just the problem areas- if you have rooms that are in good condition, skip those.
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