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people also have to keep in mind, that what is hip and trendy and in style, and all the rage. MAY NOT be relevant in 5 years.
noe one can possibly know that.
I clean well kept house will always win in the long run.
Wellll---maybe. An old house with a dated floorplan will probably sell eventually, but a house with a newer floorplan and in a better development will sell faster and for more money. And a lot depends on the market. A competitive market gives the older, but well kept house, a better chance. A depressed market will not be kind to the older home unless it has something extra.
Sometimes the things you have to do the house is done because otherwise it won't even sell without it. These days buyers are so picky they want it all in even the most modest homes. No it won't give you a return but without doing some of the work it may not even sell. Sad.
The answer is - it depends. All of it depends on your local real estate market and what buyers want and are expecting when they purchase homes. Not an answer that helps you decide, unfortunately. However, you can talk to local real estate agents and get a feel for what would and would not be wise updates in your home.
Quote:
Originally Posted by Kayekaye
Sometimes the things you have to do the house is done because otherwise it won't even sell without it. These days buyers are so picky they want it all in even the most modest homes. No it won't give you a return but without doing some of the work it may not even sell. Sad.
We have that market here. The buyers don't want to do a single thing - no matter the age of the home. While our prices have risen considerably, the robust new house market is keeping them down a bit too, especially considering the return on investment for these updates in older homes. Of course, it doesn't help that so many buyers can't see the difference between a cookie cutter house built with substandard material and something built well as long as it has their granite and stainless appliances! The only real return on investment of a totally updated house here is the ability to sell it.
I think the most important things to have updated are the kitchen and baths. And take down wallpaper!
New buyers don't have extra money to do these things, especially if they are still paying off student loans. Older buyers, if they are two career couples probably don't have time. I do think that buyers are picky. I know we were in 2012, when we looked for a home. But we ended up buying a place that needed major redecorating, because it was otherwise the best house we could find for ourselves. The house might have brought more though if it had been properly decorated.
I think the most important things to have updated are the kitchen and baths. And take down wallpaper!
New buyers don't have extra money to do these things, especially if they are still paying off student loans. Older buyers, if they are two career couples probably don't have time. I do think that buyers are picky. I know we were in 2012, when we looked for a home. But we ended up buying a place that needed major redecorating, because it was otherwise the best house we could find for ourselves. The house might have brought more though if it had been properly decorated.
Much of what happens is due to market forces.
actually, i would rather buy new appliances for the whole kitchen than take down wallpaper....
Only purchase new appliances if yours are extremely outdated. Agree about getting rid of the wallpaper.
If there is something imminent, eg; water damage, roof repair, plumbing issues then by all means take care of those issues. But take it from me-someone who got a mortgage for a home and ended up having to move from west coast to east coast for my job after living in the home for 5 years-do not go over and beyond what is absolutely necessary. Period. My house is still on the market a year later, is not over-priced and the potential buyers all want something different; so there is no pleasing any nor everyone.
I had ripped up the nasty carpet and put down a dark laminate( not hardwood but very pricey laminate) through out the entire house.And I chose the dark because it, IMO looked very chic and has a really rich look to it as compared to the lighter laminates that scream "cheap!!!!". Well guess what-----almost every person who has viewed the house remarks the floors are too dark
^^^I second that. Focus on what a home inspector will find and report to a buyer and take care of
those problems. Neutral paint is cheap and easily done. Also, since the OP plans to downsize and
move, I wouldn't recommend buying too much furniture to fill each room.
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