Should we fix up the house to sell?
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Hi Karen, Sorry you have lost your mother and have to deal with the sale of her home.
If you take a little time to get the home looking 'fresh' it will be more appealing to potential buyers. If you just leave it as-is in need of carpet and painting, people may assume it hasn't been cared for so may offer less since they will have to do the work themselves. Are you using a real estate agent? They can be very helpful in regards to preparing the home to sell. It's nice to present the property in the best possible light to get the best price.
If you look on Pinterest there are real estate boards people have created with lots of hints and info. You might also search Re/Max to see if they have any hints.
Good luck!
Hi, Karen. Where is the house located? Would it be torn down for new construction? In this case, why spend the money, however, if it will probably be inhabited by new owners, I would perk it up a bit with paint, redo the floors are put in new carpet. You also have to think about how old are the kitchen appliances, and what about the condition of the bathroom(s). You can get into a lot of expense once you get started. Check out costs and see if it is worth putting a big chunk of money, or just paint a bit and take the money and run. I know it's your Mom's house and maybe a little sentamentality attached, but try to figure the best outcome.
It will show better, obviously , if you paint and replace carpet. Neither is terribly expensive. If that is the only thing needed, then you are lucky. Normally, bathrooms and kitchens have not been updated in older people's homes, and those are expensive to update. Just be prepared to come down on the price if BR's and kitchen are outdated.
So sorry for your loss. The better the house looks the more money you get. Do not over spend but even painting the house and freshening up the landscape can fetch you more money. Who doesn't want or need a few more dollars in their pockets? Chat with your realtor and do what is best for you and your family. Have you thought about turning it into a rental?
Your house will sell quicker and for a higher price if you do the work to make it more appealing. Potential buyers are looking for clean and fresh.
Definitely paint and make minor repairs so the house shows well. Many buyers can't see past the old decor and will walk away. Some other suggestions that don't cost very much but can have a huge impact on how much a buyer is willing to pay are: 1. Replace all plugs and switches with the newer Decora style. 2. Replace dated light fixtures (Home Depot and Lowes have a great selection at reasonable prices). 3. If there is hardwood under the carpet, rip it up and don't replace it. Wood floors are a big selling feature. If there are a few bad spots, use area rugs to cover them up. 4. If necessary, paint the kitchen and bathroom cabinets and update the pulls and knobs. 5. Buy new bedroom and bathroom linens for decoration. (When the house is sold, you can keep them.)
A general rule of thumb is to spend up to 5% of the asking price to fix up the house. The better the house looks, the more likely it will sell faster and at your asking price.
I'm now on my 13th house and I've made anywhere from a bit of money to a lot of money by making sure my houses look like move-in condition.
Best to talk to a reputable realtor, the neighborhood and market analysis will give you a better idea of what to do. Painting a neutral color throughout, and ripping up old carpet and preparing it for owner choice flooring might be an option. Giving buyers an allowance for flooring based on what you would spend.