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What about offering a credit to the buyer to use towards new counters of their choice? As a recent buyer, I would actually prefer the credit to get what I wanted versus having you pick and install it. In the house I recently bought, the seller redid two of the bathrooms. New tile, vanities, counters, etc. They picked granite for the counters. I would have much preferred something like silestone or at least being able to pick out my own granite versus being stuck with what they chose.
That sort of seems to split the difference of opinion, no?
The downside of the credit the buyer can't see it. The best option is do the work, the second best is offer a credit, the worst is eat it on the price because that costs you the most.
The downside of the credit the buyer can't see it. The best option is do the work, the second best is offer a credit, the worst is eat it on the price because that costs you the most.
I agree with this. A lot of buyers can't envision a house with upgrades that haven't been done. Some can see the potential, but they'll expect to get the house at a discount to make up for the cash they'll have to sink into the house to get it up to snuff.
A credit is a good alternative, and sometimes preferable.
Wow! Thank for all of the opinions, however divergent. One thing I've noticed from both my agent and watching those shows like House Hunters, is that most people have almost NO imagination. They look at a great house and then throw a fit because it has shag carpet or red walls. I think some posts were right about how no one will really notice a $2000 reduction but they will notice upgrades.
To provide a little more info, the condo is 5 years old and the kitchen has maple cabinets and black appliances. The average list price per square foot in this area is $334 for all properties. The average per square foot for the bottom 1/4th in price is $282. Mine would be in the bottom 1/4th, is 662 square feet and is listed at 189,900 (at $282 per sq/ft it would be $186,425). Soooo it makes sense to me to do the counters (kitchen & bath), see what kind of response it gets and then, if necessary also lower the price to around $187,000. Until it sells, I'll can enjoy the counters I wanted anyway.
Wow! Thank for all of the opinions, however divergent. One thing I've noticed from both my agent and watching those shows like House Hunters, is that most people have almost NO imagination. They look at a great house and then throw a fit because it has shag carpet or red walls. I think some posts were right about how no one will really notice a $2000 reduction but they will notice upgrades.
To provide a little more info, the condo is 5 years old and the kitchen has maple cabinets and black appliances. The average list price per square foot in this area is $334 for all properties. The average per square foot for the bottom 1/4th in price is $282. Mine would be in the bottom 1/4th, is 662 square feet and is listed at 189,900 (at $282 per sq/ft it would be $186,425). Soooo it makes sense to me to do the counters (kitchen & bath), see what kind of response it gets and then, if necessary also lower the price to around $187,000. Until it sells, I'll can enjoy the counters I wanted anyway.
That's how it should be. YOU enjoy the upgrade, if that is what you want. What you don't want to do is simply upgrade due to buyer's flavor of the year. What today's buyers are expecting is for you to lower the price by 2K AND put the work in and update the counters. That, to me, is about as inviting as withdrawing money from my bank account and putting it in the toilet. I'd rather wait out this recession than do that, I'm afraid. I'm assuming you have laminate counters? If you have solid surface or quartz I personally don't see any reason to "upgrade" them, esp. if your price point is middle of the road. Laminate however, yeah...as a buyer, I'd be turned off by them.
Another thing...the granite/stainless steel template is getting boring for me. Every house looks the same these days...esp. new construction homes.
I agree about the granite getting boring but I do have laminate and granite seems the best bang for my buck. I'm not under any pressure to sell but I'd like to take advantage of the rates and deals out there right now rather than waiting another year...or two.
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