we bought it for $195,000 in sept '06 on the shoreline in CT
2007-01-30 06:14:42 · 3 answers · asked by kristin747 3 in Home & Garden ➔ Decorating & Remodeling
I would tend to think that even a novice buyer realizes that different floor types cost different amounts of money. If you were to peel and stick tile your floor; it would not be as attractive as hardwood. Hardwood costs more to buy, more to install and generally a bit more care to keep pristine... than for example; peel and stick floor (gag)...
I think that as well as showing off your home to prospective buyers as upgraded and more luxurious, you can expect more for it than if you didn't do the floor... unless you pick peel and stick (don't do it).
If it costs you $5000 to hardwood your condo; you can expect to get it back plus extra IF you look after it and the buyer likes it. If it's stained charcoal grey, the buyer better be a 28-35 year old bachelor because I know of NO women that would not have it stripped before moving in. If the buyer thinks he/she has to have it refinished to "bring it back" then it won't be a payback to you; it will be a potential cost to him/her. Most upgrades will return themselves as long as it is a 'common upgrade' done in good, average taste... nothing weird like faint pink oak or lime green maple or.... Most people wouldn't consider installing a pool as an upgrade except for the guy that wants a house with a pool... then he'll pay more for it if all else is equal.
The real key is that regardless of what you paid for your home, if all the other ones in the area are bigger, brighter, 'newer' or 'upgraded' recently or... then you are catching up with the area by fixing yours up and hopefully you paid less than what theirs is worth because yours wasn't done yet. You really can't lose by spending money on improving your property but you should also improve to improve your experience living there.
2007-01-30 06:43:00 · answer #1 · answered by 6kidsANDalwaysFIXINGsomething 4 · 1⤊ 0⤋
Most good appraisers will tell you flooring can't improve the valuation but it can detract from it.
My experience with flooring it hasn't improved the sale price but it did impact the timing of the sale.
2007-01-30 06:19:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
4X the cost of the hardwood flooring.
2007-01-30 06:22:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋