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Answers (18)
- mckylie
- Contributions:5034
Apples to apples - it definitely would give you an edge over another property. May not get the money spent back but hopefully it would help sell faster!
- Christopher Pollock, "ChrisPollock"
- Contributions:34
I believe that in your case, a washer and dryer might not add value to the home but might help it sell better. Don't expect to get any more out of the home due to a new washer and dryer, but expect to get a quicker sale
- Tracy Moore, "TracyMooreN.County"
- Contributions:45
It just makes your unit more desirable; it does not add to the price. But it is worth it, if most of your neighbors who are selling have them!
- Geordy Rostad, "geordy"
- Contributions:991
This thread is getting kind of old but there is a point I see that no one else in here raised yet...
Did you check with your home owner's association to make sure it's allowed? Most HOA's have strick rules against this sort of thing, specifically with regard to washer/dryers. There are a multitude of reasons:
1. Could cause possible water damage to other residents
2. Could cause moisture buildup in the room that you install them in.
3. You would have to cut vents into the building's exterior.
Probably some great reasons I'm missing. Read your bylaws, ask your HOA and by all means, get a permit.
Did you check with your home owner's association to make sure it's allowed? Most HOA's have strick rules against this sort of thing, specifically with regard to washer/dryers. There are a multitude of reasons:
1. Could cause possible water damage to other residents
2. Could cause moisture buildup in the room that you install them in.
3. You would have to cut vents into the building's exterior.
Probably some great reasons I'm missing. Read your bylaws, ask your HOA and by all means, get a permit.
- eastsidehomestaging
- Contributions:2
It's more of an added feature, use this to your advantage when going up against other town homes in your area! Good luck!
- Rhonda Aflakian, "Rhonda theRealtor"
- Contributions:170
Dear Haus,
This is a competitive market. If you want your townhome to sell- I'd add the convenience of an in-house washer/dryer. That may be what gives you the competitive edge over the others in your area. However, don't increase your price just because of the addition. You need to now the local rates from a professional Realtor® Best of luck to you,
Rhonda
- Josh Skinner, "Josh Skinner"
- Contributions:8
Value I would say not enough to make it worth the cost. I also agree that in a townhome such as yours that I will make selling it a lot easy so I would say that makes it worth the money
- Marilyn Murray, "TO HELP PEOPLE"
- Contributions:3
I will say yes, it does add value to a home and especially a lot of convenience. Often home buyers want the luxury of not having to go outside carrying baskets filled with laundry. This is even more so true if they have to carry laundry baskets outside and up or down stairs. Just think, no more coins to carry, you're not getting wet or being cold in bad weather, not having to worry about missing items of clothing, and these are just a few points to mention why it will add value.
- Nancy A. Meier, "Nancy A. Meier"
- Contributions:25
In a townhome such as you are describing, it certainly will add value; how much is another question. I would ask your realtor to check if there are any sold listings with washers and dryers and approximately how much more they sold for than those units without. This should help you make a decision.
Nancy Meier
Nancy Meier
- Linda Strasberg, "L Strasberg"
- Contributions:2315
I remember once in NYC not having a washer dryer in our unit and I would have to go down the hall...we installed one inside our unit not so much to increase it's value but for my own personal comfort.
If there are other units on the market at the same time and yours has a washer dryer within it will get an offer faster especially when it also has a great exposure, etc.
Isn't your sweetie worth the $3-5K installation???
- Jessica Nooney, "Jessica E. Nooney"
- Contributions:90
Simply, yes! You may not get the full return, but your property will sell faster with one, than without one!
Best of luck!
Jessica Nooney
Weichert, Realtors
Best of luck!
Jessica Nooney
Weichert, Realtors
- ConnieK_Oklahoma
- Contributions:2899
adding the inside utility for the washer and dryer adds value. The appliances aren't necessarily counted in the value of an appraisal and some types of loans do not allow for any personal property to be exchanged. There's the possibliity that the washer and dryer can't stay or won't be desired to stay- keep that in mind when determining your cost to buy them.
- SoCal_Engr
- Contributions:5663
As a consumer, the availability of plumbing/electrical would be plus, but more as a "selling point" vice a "value add". As for the actual washer and dryer, my experience is that I rarely like what others (especially "budget constrained") select - so the actual washer/dryer would not be a big add.
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
I would be happy to come take a look and pull the comparables near you. I too agree that I would get several estimates from contractors.
- Candi Randolph, "Candi Randolph"
- Contributions:35
Many potential buyers would probably appreciate the convenience and added privacy of an in-home washer and dryer, and be willing to pay a little more for it if this is not a standard in your neighborhood.
And, it sounds like you will benefit from this upgrade as well, as you are not planning on selling your home right now. How important is this to you and your lifestyle?
I would encourage you to get several estimates on the installation cost to make sure that the price is a fair one. Hopefully you are able to use existing closet space, or an area of your home that isn't considered prime space.
Finally, get the advice of a local realtor who is familiar with your area and neighborhood.
And, it sounds like you will benefit from this upgrade as well, as you are not planning on selling your home right now. How important is this to you and your lifestyle?
I would encourage you to get several estimates on the installation cost to make sure that the price is a fair one. Hopefully you are able to use existing closet space, or an area of your home that isn't considered prime space.
Finally, get the advice of a local realtor who is familiar with your area and neighborhood.
Ask a good local realtor for advice on this one.
I think the key is whether the potential buyer of this property would appreciate it, and view it as a positive.
There is also the potential tradeoff of losing the usable space for the washer/dryer, and whether it will negatively impact your floorplan and the flow of your living area (I assume with the cost of 3+k that it is in the living area and not in garage or outside). If this occur, not only will your property be harder to sell, but also at a lower price.
I think the key is whether the potential buyer of this property would appreciate it, and view it as a positive.
There is also the potential tradeoff of losing the usable space for the washer/dryer, and whether it will negatively impact your floorplan and the flow of your living area (I assume with the cost of 3+k that it is in the living area and not in garage or outside). If this occur, not only will your property be harder to sell, but also at a lower price.
- John Stewart, "nwhome.us"
- Contributions:2161
I really like the idea that you are anticipating having some time to use it yourself. It therefore has value to you!
We look at comparable sales. Do they have washers and dryers? Is it a case of keeping up with the Jones? If they have the machines and you don't, there is a soft spot for negotiation on your price. It is a negative issue for a buyer to raise.
If other sold units don't have the machines it is an opportunity for you to distinguish your home from the others. This may not mean that you get more money for it; it means that yours sells before one that doesn't have one (for the same price). Think time-value of money.
So, you get personal use of the machimes and you may sell your home more quickly. These measures are of higher value than the expense.
We look at comparable sales. Do they have washers and dryers? Is it a case of keeping up with the Jones? If they have the machines and you don't, there is a soft spot for negotiation on your price. It is a negative issue for a buyer to raise.
If other sold units don't have the machines it is an opportunity for you to distinguish your home from the others. This may not mean that you get more money for it; it means that yours sells before one that doesn't have one (for the same price). Think time-value of money.
So, you get personal use of the machimes and you may sell your home more quickly. These measures are of higher value than the expense.
- Jim Stevenson, "therealtorguy"
- Contributions:1111
A lot of buyers would really appreciate that feature! Depending on the value of the townhouse, I think will recieve a very good return on your investment. Plus, if there are two identical units for sale, that washer and dryer will probably get yours sold before the other unit.
Best to contact a local realtor (who has townhouses listed in your complex) and get their opinion. I'm sure the realtor would gladly give their opinion!
To me, it sounds like a great idea!
Best to contact a local realtor (who has townhouses listed in your complex) and get their opinion. I'm sure the realtor would gladly give their opinion!
To me, it sounds like a great idea!
Does adding a washer/dryer add value to a home?
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