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Old 07-19-2007, 02:30 PM
 
8 posts, read 32,357 times
Reputation: 11

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I am strongly considering selling my condo/villa and moving someplace a little bigger. For the most part our place is updated; we redid floors to Pergo and tile (except the bedrooms), updated the baths, redid landscaping, new roof, new paint. The only thing we have not done is the kitchen cabinets and counters. They are white laminate, Euro style with the bottom edge being the pull with no knobs (very 80s!). I got a couple of estimates to reface them and it is around 3500-3800. Would this be worth it if we sell or would we be better off just leaving them and pricing our home a few thousand less? There are several units in my neighborhood for sale and quite a few but not all of them have updated cabinets.
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Old 07-19-2007, 03:04 PM
 
Location: Montana
2,203 posts, read 9,294,945 times
Reputation: 1130
Do you have much competition? If there are other condos for sale in the area with updated cabinets, then you're going to have problems either 1) getting a price comparable to your competitions, or 2) even getting it sold at all. As long as there is something better out there that's priced comparably to yours, people are definitely going to go with the updated one. The only way to compensate would be to drop your price.

Personally, if you've got competition I would definitely do the update. $4,000 or less (for the updated cabinet faces) is going to offset a price difference of about $10,000 in the buyer's mind. In other words, they're going to want to knock about $10k off your price compared to another unit with the updated kitchen. Plus many people absolutely cannot visualize anything but what they're looking at that very moment.

btw, you might get a few more estimates. Maybe you can reface a little cheaper???
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Old 07-19-2007, 10:16 PM
 
Location: Brentwood, TN
8,002 posts, read 18,571,055 times
Reputation: 12357
Quote:
Originally Posted by nervousnellie View Post
I am strongly considering selling my condo/villa and moving someplace a little bigger. For the most part our place is updated; we redid floors to Pergo and tile (except the bedrooms), updated the baths, redid landscaping, new roof, new paint. The only thing we have not done is the kitchen cabinets and counters. They are white laminate, Euro style with the bottom edge being the pull with no knobs (very 80s!). I got a couple of estimates to reface them and it is around 3500-3800. Would this be worth it if we sell or would we be better off just leaving them and pricing our home a few thousand less? There are several units in my neighborhood for sale and quite a few but not all of them have updated cabinets.
depends on how desperate you are to sell. if there's alot of competition I would say yes. My husband and I remodeled our kitchen while we had it for sale and it finally sold after we did it. We did it ourselves for about $3,000. We sanded and painted all the cabinets, put new hardware on them, new countertops and ceramic tile floor (a friend did the tile floor for a good deal). It was well worth it.
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Old 07-20-2007, 05:30 AM
CBB
 
Location: Munich + FL, 32082
481 posts, read 2,237,081 times
Reputation: 400
I think it really depends. Instead of buying a condo with a new or updated kitchen I don't like, I'd rather have an allowance and update the kitchen myself. Others may be happy with any kitchen that's new, no matter how it looks.
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Old 07-20-2007, 07:18 PM
 
Location: Moved to town. Miss 'my' woods and critters.
25,464 posts, read 13,533,396 times
Reputation: 31760
Since you do say that there are several units in your area for sale, I say YES. Go ahead and get estimates, etc. and go for it. Can't hurt and you will enjoy the improvement while you wait. Hopefully for only a short time.
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Old 07-20-2007, 08:12 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,081,851 times
Reputation: 2661
Default Go Look

Why speculate. Get an RE Agent who wants your listing to show you the competition. If the ones at your price point who have updated look gorgeous to you update. If you yawn don't.
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