Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Current real estate market with little inventory would indicate to me, not to remodel, put it on the market. Houses aren't on the market 24 hours in the northeast and sell without inspections.
Of course it's all about return on investment but I was hoping you'd come back with some polling or a study rather than simply opinion and anecdotes. I have anecdotes about those who are so convinced that any gray is agreeable and will use it even if all the surrounding surfaces like tile, counters and cabinets are in shades of brown - not a recipe for success.
If it works for you, in your market, who am I to argue? But your experience doesn't necessarily speak to all areas at all levels particularly where buyers are not so interested in being on trend to make things "pop", or what was trendy a couple of years ago and won't be satisfied with the one size fits all colors and cheap carpet or plastic flooring. I say this regardless of what production builders may promote to fit their business plan; those are the people who often find it convenient to remove every tree in a tract after all.
People who remodel aren't trying to sell you the house. We don't care if you want it or not. We care about the people who will pay top dollar and give the return on the investment.
I'm a firm believer now that one shouldn't "remodel to sell". When you upgrade, it should be for your enjoyment and then the investment comes second (within reason of course). The best "return on investment" is the happiness that said upgrades provide. We upgraded to sell with our first house because it lacked character and the neighborhood was so-so. With our current house, we've upgraded as we've gone along, so that we get to enjoy all of it. To me, there's immense ROI. Good aesthetics helps, but ultimately what really mattered is where our house is located. It's in a great neighborhood that is in high demand.
Obviously your home was fine for you all these years, so upgrading it to suit a hypothetical buyer I just don't think is the best course unless you live in a depressed market.
It sounds like money may be a factor here. If you're thinking about DIY for big projects - against don't! Unless you are a contractor.
Spend money on things that would make a potential buyer run - like foundation, etc. If you see broken tiles in your bathroom wall or floor, repair them. Refinish the wood floor. Add a fresh coat of paint. Maybe ditch dated window coverings. Add some cabinet hardware. Remove clutter, CLEAN. Clean the windows. Consider curb appeal - anything overgrown cut it. Any damage to the exterior, address it.
People who remodel aren't trying to sell you the house. We don't care if you want it or not. We care about the people who will pay top dollar and give the return on the investment.
Of course those remodel people are trying to sell me the house - they are trying to sell everyone the house but they are taking a huge percentage of people out of the mix. Whatever decision they make takes a huge percentage of people out of the mix whether that's to sell completely as is, just clean up, whether to paint, what to paint, whether to change flooring, kitchens, baths and at what level of quality and expense.
I will pay that "top dollar" amount for a house precisely the way I want it and you can't get it there but I can if I buy the house ready to be remodeled.
Of course those remodel people are trying to sell me the house - they are trying to sell everyone the house but they are taking a huge percentage of people out of the mix. Whatever decision they make takes a huge percentage of people out of the mix whether that's to sell completely as is, just clean up, whether to paint, what to paint, whether to change flooring, kitchens, baths and at what level of quality and expense.
I will pay that "top dollar" amount for a house precisely the way I want it and you can't get it there but I can if I buy the house ready to be remodeled.
I remodeled 2.5 bathrooms, the kitchen and all flooring on a 2002 house back in 2012. I went for the most traditional and classic elements (with timeless appeal). I went high quality because I planned to live in the house at least 15 years before selling. I figured I would still get some of my remodel money back (I will repair rather than replace surfaces by then). Someone is going to recognized the upgrades and pay for them because they will understand the durability and aesthetics. But, I may never sell (while alive).
Very glad I did that in a down economy as I got top notch contractors (and I'd hate to know what that would cost now).
I remodeled 2.5 bathrooms, the kitchen and all flooring on a 2002 house back in 2012. I went for the most traditional and classic elements (with timeless appeal). I went high quality because I planned to live in the house at least 15 years before selling. I figured I would still get some of my remodel money back (I will repair rather than replace surfaces by then). Someone is going to recognized the upgrades and pay for them because they will understand the durability and aesthetics. But, I may never sell (while alive).
Very glad I did that in a down economy as I got top notch contractors (and I'd hate to know what that would cost now).
Congratulations on putting into the house exactly what the occupant (you) wanted.
Big remodel? No. Doing some updates like painting and replacing fixtures, yes.
I’m selling in a month and this is exactly what I’m doing. I redid the hardwood floors (they were really faded under the rugs… kind of the opposite of what one would expect). I’m painting, but not everything. Just where it needs it. I’m replacing a few light fixtures in bathrooms (they corroded over time). And now I have a company coming to do a deep clean. I also plan to stage because it’s cheap and it will help downplay some of the outdated stuff.
I’ve run the numbers multiple times and I either lose money or break even doing updates (assuming I run into no issues upgrading like unplanned repairs). It’s not worth the trouble. I rather sell for a little less.
If you don't have the knowledge to do it, then don't do it. You would have to hire it done and if you don't have the knowledge, unscrupulous contractors will be quick to take advantage about pricing and you will get suggestions to do expensive things that don't need to be done.
Just clean up spotless and trim the yard so it is neat. Fresh paint in a neutral color usually pays for itself so that is usually worth the cost. You can go down to the paint store and they will have the business cards of painters that they can recommend. Call a couple of those guys and get quotes. Pick one of the guys who is in the middle of the price range and who will give you a completion date in writing..
Congratulations on putting into the house exactly what the occupant (you) wanted.
Ha! I had one friend completely replicate my master bath. So, not just "me." Get over it. Some people have superb taste that a lot of people will agree with.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
