Discussion in 'Real Estate' started by paula0000, Feb 22, 2005.
Besides kitchen/bathrooms, what else (maybe less $) would increase the value of a home?
IMHO: Paint & floors.
A fresh coat of paint on every wall ~ inside and outside ~ is one of the cheapest ways to update & freshen up your home. If you can do it yourself, it is almost a minor expense.
Next, new flooring, if you can afford it. Especially in high traffic areas. If you have wall-to-wall carpet or vinyl flooring you can replace it for $1,000-$2,000 in many cases.
So, first impressions: when the prospects walk into a house with clean, new walls and clean, new floors..... it looks new!
A fresh coat of paint is a definite plus when trying to sell a home.
A nicely landscaped yard, although it doesn't have to be "professionally" done. Just neat and pretty!
those are good tips- and generally the paint and the landscaping don't cost much initially. Thanks!
new paint is great but remember to choose neutral colors.
A coworker of mine is going through selling his mom's home. The house was old and the realtor told him to put carpet in over the old hardwood floors. His siblings decided to go ahead and do an inexpensive carpet as the realtor suggested. They lost a buyer because in the offer the buyer said they wanted to rip up the carpets and have the floors refinished so they were asking for funds to do that! If they had not put in the carpet the buyer would have been happier.
Always make sure the house is neat and clean when viewing. This may sound dumb but when we were looking I was surprised at how many houses were just filthy.
I agree with the paint and landscaping. Also, I think a clutter-free home helps. Less is more!
New Garage Door
I think if you have a saggy old garage door, like many I have seen lately while looking at houses, it would definately add to the curb appeal to replace it.
Another tip I've heard is to remove one piece of furniture from every room to make them seem larger. That doesn't cost a thing.
When we bought my house we had to tear down every wall (except the kitchen) because the previous owners had painted over wallpaper. Be careful, it ruins the walls. It was cheaper to gut the house then to pay the painter.
One thing that a real estate person told us was: The front door is a huge selling piece. Make sure that the front door is attractive. This is the first thing that people see. As far as the rest of it goes. If the rug needs replacing, for example, you can choose to replace it, or have so much money put aside to offer the buyer instead of having it done beforehand. Some people like the option of picking out their own colors themselves.
Another thing that maybe doesn't increase value but helps a home sell faster is LESS CLUTTER. SOmetimes you find if you clean up and clean out- the house seems bigger.
How about the garage? One real estate advisor says they're important:
"Garages add to the resale value and you should always make sure to get at least a two-car garage. Lately, three-car garages have become desirable in some areas of the country...."
Keeping it clean is a selling point. When we were looking at houses I was surprised at how filthy some people were.
Yes, and add to that, MAKE your kids pick up their clothes off the floor if your house is being shown that day. I could not believe how many totally wrecked bedrooms I saw when looking for a house!!!
There are two types of buyers: Those that can see through the green shag and yellow walls, and those that can't! (Depending on your price range and the quality of homes in your market). If your carpet is stained and worn out you have 3 choices replace it, give a buyer allowance, do nothing. There are many things to consider before you decide on a option. Talk to your realtor, listen to showing feedback, compare your house with the neighbors, today there are so many flooring options with faux wood floors and vinyl that looks like tile. Whatever you do you can never tell what prospective buyers might say. Paint is another topic and should always be done, if needed, because of the low cost,DIY, and always stick with neutral colors.
maybe you should also get rid of all the unimportant stuff, lose the paintings on the wall for instance, maby something very little in a certain place.
try to add some of that designer's touch, be tasty.
makes you look more professional and buyer will probably trust you more.
In my case I looked at my home on a nice warm day in spring 2002 and did not realize that the doors were open and scented candles were going because the old lady smoked like a chimminy. I also did not realize that the walls and ceilings were supposed to be white instead of off white until doing a complete wall/ceiling washdown (rags turned nicotine yellow) after buying it. I got a large area rug to cover up the cigarette burns (hidden by furniture) until I have a chance to replace the carpet. Even after using heavy duty Renuzit (sp?) air fresheners with multiple cover up scents and airing out the place with box fan in upstairs widows during summer nights, the closets reeked for a couple of years.
Found out later her pregnant daughter and husband wanted out due to her smoking. Feel sorry for her brother who picked her up with *** in hand with his tractor/trailer on his way to Connecticut before heading back to California, so she can care for his disabled wife.
But the cigarette stench is now gone, I refinanced to 20 yrs. knocking off 7 yrs of payments and $62k interest, socking 20% in my 401k which is up 5.44% YTD in less than a month, and having fun investing IRA/Roth IRA money, so life is grand, for the moment.
Life is sweet ain't it!
Here's my advice. Do absolutely nothing right now since we are at the top of the RE cycle and home prices are going to come down pretty dramatically. Along with that the cost of commodities will also tumble. So it makes absolutely no sense to put major repairs into your home right now to increase the value for resale because you will be paying too much for materials and the gains will be wiped out as the price of your home falls in value. My suggestion would be to wait at least 1 year before you make any major renovations. By then we will have a much better idea about the number of additional homes on the market due to forclosure. The good news for those who are looking to buy a home and can wait is that if a bank forecloses on a home where the mortgage was initiated in say the year 2000, then the bank really only needs to get the year 2000 mortgage amount out of the house to be made whole. In the past 5 years homes have doubled in my area. I am looking forward to future bargains in the RE market as we buy homes at year 2000 prices again! :wink: The one thing you can do to your home that is inexpensive and also enjoyable is to improve the landscaping come spring time. Plants are cheap! And they make a big difference in the overall look of your home.
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