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In anticipation of selling my house in the next year or two, I took out a HELOC for pay-as-you-go work. Much of what need doing is finished and when it is complete, I'd like to convert the HELOC into an actual loan so the interest rate doesn't keep going up. Is that a good idea?
Speaking of working needing to be done, I contemplated replacing our 17-year old carpets prior to listing the house. For awhile the upstairs smelled funny because we had cats who sometimes missed the litter box.. There is a faint resonance so the carpets have to be replaced regardless. Should it be done prior to putting the house on the market? Should I offer a "carpet allowance" to replace them? Should I say nothing and leave them alone?
In anticipation of selling my house in the next year or two, I took out a HELOC for pay-as-you-go work. Much of what need doing is finished and when it is complete, I'd like to convert the HELOC into an actual loan so the interest rate doesn't keep going up. Is that a good idea?
Talk to lenders about pros and cons of converting. We don't know the details of your current arrangement.
Speaking of working needing to be done, I contemplated replacing our 17-year old carpets prior to listing the house. For awhile the upstairs smelled funny because we had cats who sometimes missed the litter box.. There is a faint resonance so the carpets have to be replaced regardless. Should it be done prior to putting the house on the market? Should I offer a "carpet allowance" to replace them? Should I say nothing and leave them alone?
How long before you plan to list? Have you cleaned the carpets yet? How well will those rooms show? Cat pee is a pretty big turn off. Even if the odor isn't strong, it implies the house may be neglected in other ways. If the "resonance" will be noticeable to potential buyers when they walk in the rooms, replace the carpets/padding before you list. Have friends or a neighbor walk through. You may be nose blind to how strong it is, and you can't predict how sensitive someone's sniffer might be. IMHO, if someone would really need to get on hands and knees to detect it and the carpets are otherwise presentable (no stains, damage, stretched, etc.), maybe the allowance would be enough to make up for it. Cat pee isn't always confined to the carpet or pad. It can absorb into the subfloor!
Somehow I suspect you already know the answer to this question OP!
Last edited by Parnassia; 08-04-2023 at 06:30 PM..
There is a faint resonance so the carpets have to be replaced regardless. Should it be done prior to putting the house on the market?
YES
I can think of few things worse than walking into a house that I am interested in buying, and getting hit with an unpleasant odor. Where is it coming from? So the homeowner or listing agent tells me, don't worry, it's just the carpet - you will get a carpet allowance at closing so you can replace the carpets.
NO
1. I don't want to have to do the work. I don't want to have to measure, and go shopping for an estimate, and then be there when the installers come.... Most others won't want to do that either, tho TBH, some people will like that fact that they can get exactly what they want.
2. How do I know it's really the carpet? B/c that's what I am told? How do I know it's not something else? How do I know it's not the sheetrock, or worse - the studs? How do I know it's not the flooring under the carpet? I don't. No go for me.
Do yourself a favor, and have the carpet replaced, and get rid of the odor. It will be an easier and quicker sale.
In anticipation of selling my house in the next year or two, I took out a HELOC for pay-as-you-go work. Much of what need doing is finished and when it is complete, I'd like to convert the HELOC into an actual loan so the interest rate doesn't keep going up. Is that a good idea?
Speaking of working needing to be done, I contemplated replacing our 17-year old carpets prior to listing the house. For awhile the upstairs smelled funny because we had cats who sometimes missed the litter box.. There is a faint resonance so the carpets have to be replaced regardless. Should it be done prior to putting the house on the market? Should I offer a "carpet allowance" to replace them? Should I say nothing and leave them alone?
You're going to keep this HELOC for less than a year, correct? I'm GUESSING the interest you might save by switching it to a fixed rate loan is so insificant that it's not worth your time and energy.
Yes, change the carpet. Be sure the cat pee hasn't gotten into the cement below the carpet, and treat that cement. It probably has gottent into the cement in those areas that were regularly splattered.
Speaking of working needing to be done, I contemplated replacing our 17-year old carpets prior to listing the house. For awhile the upstairs smelled funny because we had cats who sometimes missed the litter box.. There is a faint resonance so the carpets have to be replaced regardless. Should it be done prior to putting the house on the market? Should I offer a "carpet allowance" to replace them? Should I say nothing and leave them alone?
17 year old carpets are gross whether they smell or not. I would get the carpets cleaned/deodorized and offer a flooring allowance. If you install new flooring a buyer doesn't like (it happens more often than people realize) they may factor in the replacement cost into their buying decision. Personally, I have always hated carpet because it's only truly clean when its brand new. The house we currently live in had new carpet in 3 bedrooms when we bought it and I ripped it out and replaced it with vinyl flooring before we moved in. A flooring allowance means the buyer gets to choose the flooring of their choice, and that makes the home more "theirs". Or maybe they will live with the nasty cat carpet and spend the money to fence in the backyard or whatever, at the end of the day they have a resource for customizing the purchase the way they want it.
One time we were touring homes for sale and found one that was perfect- except for the pink carpet. It was practically new but so bad I couldn't see myself living there. We crunched the numbers to see what it would cost to replace and it made the home unaffordable so we passed on it.
I recently sold a house in similar condition. I chose to replace the carpet throughout the house. It didn't cost much, about $4 a square foot for removal of old flooring and installation of new pad and carpet. New carpet looks good even when it's cheap. We got multiple offers and sold the house quickly. No regrets.
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