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Old 10-24-2011, 01:08 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,935,948 times
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Quote:
Originally Posted by catsy girl View Post
...i do not plan to buy any more real estate, but can envision entering a retirement community ( with an assisted living component ) in an independent condo/apartment on a rental basis. i have looked at a few which would probably work for me and there will be, in coming years, more such rental communities to meet the needs of baby boomers with limited money to invest, such as a CCRC would require...

catsy girl
In our experience with parents (and observing other people their age) - some go straight from home to the grave. Some wind up going from home straight to skilled nursing - or assisted living (and then maybe skilled nursing after assisted living). And others go from home to independent living and then perhaps one or both of the others before the grave.

Also - although we have some excellent senior facilities where we live - the places that are best in terms of independent living/assisted living/skilled nursing aren't necessarily the best (or even good) in the other areas. Which is why I recommend renting whatever you need at the time - and exploring other options if and when you need something else. Robyn
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Old 10-24-2011, 01:17 PM
 
Location: Sequim, WA
786 posts, read 1,907,721 times
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Whether or not to make many changes to a house prior to putting it up for sale is an interesting subject in itself. Over the past couple of years, we replaced carpet (it needed replacing anyway), installed new porcelain tile in the bathrooms and laundry room, painted the interior, repaired cedar siding and stained it, did some concrete work on the entry and fireplaces, replaced all the water faucets, and even replaced all the windows with new, high-efficiency ones (my wife talked about that for years). We didn't bother with countertops and I suspect there are other things we could do...but...I'm done!

Our realtor said (a few months ago) that the only houses selling around here are ones that don't need any work on them. Yet...people moving into this neighborhood now are young families. Some of them are looking for the lowest-priced house just to get them into this neighborhood...which is one of the most-saught after neighborhoods in our city. So...I'm not sure what the best approach is. Perhaps you can't expect to recoup the costs of improvements...but it simply helps get the house sold.
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Old 10-24-2011, 01:38 PM
 
Location: The Triad (NC)
28,502 posts, read 62,199,370 times
Reputation: 32187
Quote:
Originally Posted by mrgoodwx View Post
Perhaps you can't expect to recoup the costs of improvements...but it simply helps get the house sold.
Part of it is the semantics being used.
eg: Is replacing worn 20yo carpet an improvement?
Or is that just catching up with deferred maintenance?

I'm still in the corner saying that there is no percentage in doing more than a (very!) thorough cleaning and low level "fixing"... tighten up and oil hinges, make sure all the lights and switches work... maybe some tinted primer over all the spackel repairs from taking down 40 years worth of pictures... that sort of thing.

But if it's obvious that the 40yo kitchen and bath really do need to be remodeled then bring in the better K&B contractor in town and have them work up some estimates along with some pretty pictures.

Then the spiel to the buyers is something like:
"Yeah, we're asking $240,000 for the house. But that number includes doing the K&B remodel work like whats shown here in this presentation... If you're willing to take the place "as is" then we're willing to accept less" (and so forth)... but with the right contract deal we'll let YOU pick out all the finish materials and colors that would please you and all that cost can be wrapped up into your new mortgage.

That last is the real point for them wanting a "turn key" vs a fixer.
The kids today are swamped with debt and have no cash to do remodeling...
even if they have the time and skills and can live with the mess.

hth
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Old 10-24-2011, 03:10 PM
 
Location: Prospect, KY
5,288 posts, read 17,963,075 times
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We are used to and very much enjoy living in a nice environment where everything is in good condition and good working order with attractive decor. We don't want to live in a "fixer." We tend to buy fixers and fix them up to our liking and then eventually sell them within a week or two. We usually update and rarely do a tear-down remodel, although we did do a completel tear-down of the kitchen in our last house as well as the bathrooms. Our current middle-retirement-years house - well we are just updating and not doing any tear-down remodels. We don't expect to get every penny back that we put into our house. We really enjoy taking a dated home with good bones and making it beautiful and having a decent place in which to live.

Last edited by Cattknap; 10-24-2011 at 03:56 PM..
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Old 10-24-2011, 03:35 PM
 
570 posts, read 1,145,192 times
Reputation: 745
I've seen a number of homes in my neighborhood asking top dollar for the home, in keeping with similar size properties in the same neighborhood. However, in some of those homes many things haven't been updated since the home was built in the 70s or 80s. Buyers don't want to pay top dollar for paneling, orange carpet and 30 year old linoleum, even if those things are in decent repair. So in those cases the owners are needing to seriously drop their prices, or do some remodeling before the homes sell at the higher price.

There are many young families that would love to purchase these homes, at the lower price, and do the remodel themselves, just to get into the neighborhood. But many of the home owners don't seem to understand that their neighbor's home sold at a premium in part because of the granite and stainless upgrades, not just for the location itself.
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Old 10-24-2011, 03:56 PM
 
28,243 posts, read 39,908,153 times
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We understand all the points made and will plan on lowering the price accordingly if we don't upgrade ourselves. Very little has not been done to the house.

Last edited by Tek_Freek; 10-24-2011 at 04:05 PM..
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Old 10-24-2011, 04:03 PM
 
Location: SW MO
23,605 posts, read 31,492,863 times
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Ummm! Retirement houses, remember? Not speculative houses or upgrades to sell. Talkin' 'bout houses to live in when retired.
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Old 10-24-2011, 04:10 PM
 
28,243 posts, read 39,908,153 times
Reputation: 36757
Sidetracked again! Sure is easy...
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Old 10-24-2011, 04:18 PM
 
570 posts, read 1,145,192 times
Reputation: 745
Quote:
Originally Posted by Tek_Freek View Post
Sidetracked again! Sure is easy...
It is. Sorry
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Old 10-24-2011, 04:31 PM
 
Location: Sequim, WA
786 posts, read 1,907,721 times
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Quote:
Originally Posted by Curmudgeon View Post
Ummm! Retirement houses, remember? Not speculative houses or upgrades to sell. Talkin' 'bout houses to live in when retired.
Reminds me of how I will begin a project...then see something else that needs work...and I end up working on a project that had never entered my mind earlier in the day!

So...I had to go back and read your initial post.

Okay...it's important for my wife and I to feel that we own our home. We will never live in a condo or apartment (did that 35 years ago). But...there is something in between those options and what we have, which is a high-maintenance house and yard.

We will focus on finding a low-maintenance house (1 story) and yard...and the low-maintenance yard may even be 5 acres.
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