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In the current market, how are houses that need updating selling? The kitchen is updated.

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March 06 2010 - Kent
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Answers (5)

It's cliché.....but true.....it all comes down to price.  If you price anythng right (including a kitchen that needs upgrading)...it will eventually sell.

Properties are also subjective....so a buyer may prefer the rest of the home or layout.  

Unfortunately, people get caught up in upgrading, painting and little details and every once in a while the upgrades cost more than what you get back in the sale.  It's a fine and tricky balance.  

Experienced contractors or real estate agent may be able to give you a good idea of the remodel vs value.

Leanne 
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May 07 2010
When I work with buyers that want updated homes, I always eliminate the out of date homes 1st.

If my buyers are looking for a home that is outdated.  My buyers immediately start subtracting off the sale price due to the cost involved to them with having to pay out of pocket to update themselves.


I  would say overall, your home will sell faster, and for more if it is already updated.


You don't have to spend a lot to update.  You can go middle of the road- home depot price range.  Just make sure your home is current on design trends.


No Gold FIixtures!!
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March 08 2010
Of course the answer partly depends on how you intend to price your home and also the market in your area.  However, one question to ask yourself is if you, as a buyer, would want and expect something to be updated.  there is a big difference between something that could use a cosmetic update vs. say, torn and worn carpet.  If it can be fixed simply and make your home present better, you may want to consider.  Also, if you KNOW your buyer is going to want to do more major updates, have your Realtor's lending partner prepare some material on renovation loans so your potential buyers know this is available. 
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March 08 2010
Houses that need updating take longer to sell & sell for much less. If your home is in disrepair , repair or replace those items before you sell if you ca afford it. If the decor is just dated, you can make it look better by giving your home a fresh coat of paint preferably in neutral light colors, get rid of the clutter, & do some spring cleaning.
Joan Congilose CRS, GRI, e-Pro
RE/MAX Central, Manalapan
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March 08 2010
Everything is moving, at low prices. I wouldn't do any updating to sell a home in this market. A good clean, a little staging, priced right and location are key. You have to ask yourself what is the cost of updating vs the added value (if any) and the estimated price the home will sell for.

If you are updating because you want to, to bring more enjoyment for yourself and family then do it. Just do it for you if you are going to do it, not for the added value today's market will not produce.
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March 06 2010
 
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