How much do you do to the house to sell it?

Question

I have a 24 year old home that I am selling due to divorce. It needs cosmetic things and new flooring and carpet. One agent suggested to sell as it and take a $20,000 drop in price. Would I recoup my initial investment and be able to ask a higher price? I have very limited monetary resources to work with and need to make the biggest bang for the buck

Answer 1

O.K. The main thing is to minimize.........and what i mean by that is to remove all the clutter if there is any. Also, I would paint, add a new kitchen floor, and possibly neutral carpeting. If carpeting is in fair condition, have it professionally cleaned. Outside, make sure there are no visible cracks in foundation, and check roof for leakage. If you have those issues, have them repaired before inspection report. Also if your house has a basement, make sure the oil burner and hot water heater works, and there are no leaks or musty odors. Also lawn mowed, and flower beds manicured and neat. Also bathrooms are something that people look at alot. If your vanity has seen better days, replace it. You don't have to retile, etc. All you do is make sure shower tile and bathtub are sparkling clean...new towels, and accessories, candles, maybe some new lighting. Also, home should be neat when shown for Open House on weekends. I believe if you put $5,000 into the house, you will get about $20,000 more in your asking price. If you don't want to do all the work, then just paint...declutter....and take a little less in your asking price. My husband was a real estate broker so I know a little about the business. The market is soft right now, so the high prices of the past are a lingering memory...It is a buyer's market now. Best of Luck to you in whatever you decide.

Answer 2

There are certain things that are good investments and some that don't get the money back. Cleaning and painting for yourself are sure to be worth much more than the cost. If the curb appeal is not good, paint the front or whole outside, get the lawn looking good and keep it manicured. If the kitchen or any baths are atrocious, doing something with them will probably break even when selling. Any other improvements such as adding anything will not pay back dollar for dollar. Carpet and vinyl flooring are tough calls. If what you have looks really bad, you might offer an allowance off the price right in the listing to tell people what to expect. Putting plain vinyl in yourself is not expensive, refinishing wood floors can be done for a few hundred renting the equipment but it is time consuming. Replacing tile is not cheap or easy.

Answer 3

you dont' need $20,000. supposedly you should be able to get double back for whatever you spend. Paint, carpet (use something they have in stock that's inexpensive and the same color throughout the whole floor) some flowerboxes, stuff like that. When I sold my house, I painted everything and I fixed the cracks in the outside foundation, cleaned all the windows, storms and screens, cleaned the basement and painted it, etc. you could have the carpets shampooed. Do a little at a time. The idea is that when you pull up to the house, it's as neat as a pin, flowers and landscaping make a huge difference, by the way. When you walk in, it should be neat and clean and look spacious, not cluttered. Any obvious flaws should be fixed. you can get alot out of a small budget. When I divorced and sold the house, we each walked away with a nice profit.

Answer 4

From The Home Staging Professionals at www.Homestages.com

You will take a loss if your flooring is in bad shape. The truth is that a buyer will "deduct" dollars off of each space they see that will require them to fix. Your best bet is to have "berber" carpet installed. This is the least expensive carpet available and is durable and lasts a long time! Paint is cheap so I suggest painting, in a neutral color, the inside of your home. Declutter every room! If your curb appeal is lacking add some flats of pansies through out the front and back yards. A new coat of paint on the front door. Clean and then clean some more. If your drapes are outdated remove them and put up neutral valances through out your home. These are a few on the "cheap" things that you can do now. You can go to our website listed above to see our complete line of Home Staging and Interior Design ebooks! We have the perfect one for you entitled the Home Staging Guide. Step by step instructions to prepare your home for the market! Most of the instruction in this book is very cost effective and will also show you what steps are needed to "show" your home at Open House.
See us today and best of luck with your sale!!!!

Answer 5

Do as much as you can afford. More important is to de-clutter, a little fresh paint where needed, and clean, clean, clean. Put away family pictures so people can focus on your home becoming theirs instead of seeing it as yours. Your kitchen and baths will be important sellers. Try to be as up-to-date as possible. Curb appeal is very important. Clean up the gardens, paint or stain aging trim, etc. We just sold a home within 8 weeks that needed new carpet. We made it a point to note that it should be replaced. We never lowered our price because of it instead we went for the top. Most people knew a 9 yr. old home would need a carpet change if even to coordinate with their own decorating ideas.

Answer 6

In a case such as yours, it is sometimes just better to "cut & run" & do as little as possible to the property just to get rid of it & have peace of mind without all the hassle of fixing things & having to stay there longer & pay out more than you should. If you feel that you must do some fixing, then it's best just to bring the house up to code & have the basics in good working order in order for the new buyers to get a loan & have the property pass inspection. You can eliminate your agent & sell it "as-is" & keep more of a profit, but that's not a solution that everyone is willing to use. If you pay for an inspection BEFORE you start any repairs, then you"ll know what NOT to fix & that will save you $$$ in the short run.

Answer 7

alot depends if you are financial able to put money into the house. If you can, the cheapest way to make it sellable, is to make sure it has curb appeal. Pick up any items that might give the impression of "junk". Put out a new welcome mat and make sure your front door is not an eyesore. Maybe a fresh coat of paint. Plant some flowers that have color. Inside, clean, clean, clean. Make sure the house has a welcoming smell (bake cookies before showing). clear out the clutter--it makes it appear to have more room. My mom sold real estate for many years and she said that less is more when it comes to having people like a house. Put away pictures if you have alot---just have a few out. People need to picture it as "their home". good luck.

Answer 8

I spent a lot on mine and almost all the contractors agreed to wait till close of escrow b/4 getting paid. Talk to the flooring people etc. It will pay you dividends!

Answer 9

I love these questions. :) To help you, you might want to turn on HGTV. And watch Designed to Sell. Its exactly what you need. They can give you ideas on how to save money and then it will raise your price tag for the house.

Good luck.