I thought this blog post written by Judi Barrett was very timely. Many sellers are hoping to get their home sold in the spring for top dollars. If you have an older home or as we say in the real estate industry a dated home, here are some reasons you won't get top dollars unless you upgrade appliances and do a bit of remodeling.
Well, NO we did not buy a home with 1950's appliances! AND YES, we want to sell our home with 1980's appliances!
We've all gotten the call from someone that has been in their "new" home for 30 years. They still think their appliances and everything should be welcomed by buyers as "modern" but they are 30 years old. When they bought in 1980, they did not want to buy 1950 home.. they wanted a new one....
- It was new when they moved into in 1980 and they still think of it as new.
- The reddish manufactured paneling has been cleaned and polished twice a year.. no recliner has ever bumped against it.
- The carpet is harvest gold and avocado green mixture and the family dogs have not been allowed on it. It has been shampooed at least once a year in an effort to "take good care" of it.
- The walls are covered in family portraits. Once something was hung, it never gets moved because it will leave a nail hole in the wall.
- The appliances were bought when the house was built.. avocado green again.
- The curtains on the windows are heavy and are floral... greens golds and browns.. big bold flowers.
- The orange paint on the kitchen/dining room wall makes you feel like you're living in a giant pumpkin. Cinderella's coach, it's not.
- The Oak cabinets can work in a more modern setting.. with new hardware.
And we've all heard the arguments that it should bring "top dollar" just the way that it is:
- The right buyer will appreciate this home.
- It will take a special person to appreciate the way that we've taken good care of our home. That's who we want to sell to.
- Anyone that has worked for a living and understands the value of a dollar will love our home. They will also be the ones that can afford it.
- There's no point in replacing anything.. it's just like new and we all know that the stuff you buy "now a days" is not as good as what you could buy when this house was built.
My questions and suggestions for Mr. and Mrs. Seller:
- When you had your home built in 1980, did you want the builder to use materials, colors, appliances, etc from a 1950's home and install them in your home?
- Have you asked your grown children if, given a choice, they would purchase your home or the home down the street that's been modernized, given also that they would answer honestly and that both homes were priced the same and similar in condition and floor plan?
- Have you viewed any open houses lately to see what's for sale that you will be competing with?
- Have you had an appraisal done on the home in the past 12 months?
- When we sell this home... you say you are downsizing and will be shopping for a much smaller home. Can I assume that you will only be looking at homes that have 1980's colors, designs, and appliances since you believe they are so much better than what is being manufactured today?
The truth of the matter is this.. If you, Mr. and Mrs. Seller will put yourself in a buyer's position as you look at your home and other homes on the market and be honest as you do it, you will realize that to get "top dollar" for your home, it needs to be comparable to others that are bringing top dollar. If you will look at the sold prices of those that brought top dollar and those that did not, often the ones that sold for less did need to be updated.
So.. want top dollar? Bring your home into "top dollar" status, your chances will be much much better.
This post was inspired by a blog post that Charles Edwards of Rogers, Arkansas wrote entitled Yes, I realize no one has ever walked on your 1980's sculpted shag with their shoes on.
Image courtesy of turkeychick
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Judi Barrett, Broker, Integrity Real Estate Services, Office Address: RR 5 BOX 126, IDABEL, OK 74745 580-212-5946
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