In a buyers' market, do upgrades add to a property's value, or simply help make it sell faster?

  • September 24 2010 - Naples
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Answers (10)

Sell faster. This is still important. If your number one goal is to sell, the buyer still wants a deal and the best property that is ready to move in. Otherwise, your property could sit a long time with all the competition out there.
  • October 22 2010
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Profile picture for Erick Rodriguez
Bathrooms, kitchen and sometimes backyard will be the best investments for return on investment. 
  • October 08 2010
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It all depends on what kind of upgrades you are speaking of.  As an example I once sold a house that was over 3900 square feet with a 3 car garage.  What the owner did was convert 1 bay in the garage to an office with double doors from the living room adding additional square footage to the home.  The home appraised for more and made the home more appealing to buyers.  This was a win-win.

However there are many times when a home is over improved making the home harder to sell for what the seller wants but more appealing to buyers,
each case is different.
  • September 25 2010
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Best we all see here... sells faster for a little more... keep in mind appraiser are not giving as much value either... and the appraisal issue is not getting any better ...even with the sunset of the HVCC rules
  • September 25 2010
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Upgrades do add to a properties value.

Most times they add less value than they cost to have installed.
  • September 24 2010
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Dear Sergio,
Buyers are looking for a great price on a property right now. Those that I have worked with no not like "fixer uppers" for the price that property goes for now.
I have seen them walk away from a home that wouldn't take that much to fix, in favor of a clean,upgraded property.
So to answer your question, it won't sell for more, but it will sell faster!

  • September 24 2010
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New carpet and fresh paint does wonders for a home I have found and are not as costly as remodeling a kitchen or bath.
  • September 24 2010
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Kitchens and bathrooms sell homes. If the money is spent in the right places, yes the value is higher and hence sells faster as well.
  • September 24 2010
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Depends of the upgrades of course. I tell seller's who are wanting to upgrade their homes to sell them to be cautious how much they spend doing it because many things will not bring them the return they spent to put it in.

Carpet is a good example. Putting in new carpet is such a personal decision and unless the carpet makes the home look rundown to the point it would jeopardize a sale, I would offer a credit to the buyer so they can make their own choices.

If the upgrades are in the home at the time they bought or they added a lot of upgrades to a new build, it's hard to tell in this market if they will see that return or not.
  • September 24 2010
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Depends upon what the upgrades are and if they are done in good taste.

Appraisers do not give a lot of value to upgrades but I do believe that it helps sell the property faster.

Erika in Orlando

  • September 24 2010
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