If you'd like to know what home buyers are looking for these days, just ask any real estate agent. Or read this next sentence. Home buyers are looking for a fully updated move in ready home that is priced $10,000 under their current budget. That doesn't sound that bad when I go back in read it.
But my reality is in the Lincoln, Nebraska area there are a lot of home buyers looking for homes under $150,000 and even $100,000. So, how do you have a granite counter tops in a $75,000 home? In my opinion, you don't.
This article is written for the seller. But a buyer might get a good idea of what to expect by reading this too. I held two open houses this past Sunday. One at a home that was priced at $190,000 and one at a home that was priced at $72,000. The more expensive home had all new carpets, paint, and a fully remodeled kitchen complete with new cabinetry, counter tops, flooring, and appliances. The other home have been updated throughout the years but still maintains it's original kitchen cabinetry. I might mention though, that the $72,000 home had a master suite and the other home did not. So, you can't hang everything simply on price!
So, I ask my sellers, "What is it you want to accomplish in the sale of your home?" Yes, you're going to sell the home faster with lots of updates. But it's also going to cost you more money and possibly blood, sweat, and tears if you're doing the work yourself. There really is no right or wrong answer here. It's all about comfort level and what you as the seller can live with.
I don't believe in asking my sellers to update their homes to make them beautiful just to sell it. But I do ask my sellers to price them accordingly. So, the sale price might not be quite as high on closing day. As a seller, is that something you're comfortable with? If not, then do the updates. The updated home will most likely not be on the market as long and you'll feel better with the fatter check...If in fact, that's how you're wired.
If you want my opinion on your home, call me. I'll be more than happy to help you work through your decision to update or not.
http://www.shelllyn.net
