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Answers (12)
- Toby & John T. Williams, "tjplace"
- Contributions:271
I am both a realtor and an appraiser. If you want to know because you are putting the house up for sale, ask a realtor. An experienced and local agent should be able to tell you what upgrades buyers in your neighborhood are looking for. If you are trying to decide what to do in preparation for a sale, ask a realtor. If you want to know what an appraiser believes and what dollar amount they might adjust comps on an appraisal in YOUR neighborhood, ask an appraiser.
Please remember COST and value to a buyer can be very different!
Some items are close, some aren't. In some areas a 25,000 pool will only net you around 3 grand more when selling. In some areas, NOT having a pool will cost you up to 100 grand when selling. It's all local knowledge!
Please remember COST and value to a buyer can be very different!
Some items are close, some aren't. In some areas a 25,000 pool will only net you around 3 grand more when selling. In some areas, NOT having a pool will cost you up to 100 grand when selling. It's all local knowledge!
- John Gessner, "71846"
- Contributions:2
I would ask both,two of each.Push comes to shove go with the Realtor.
- Leann Barrett Realtor, "EastsideSpecialist"
- Contributions:43
This is a really great and timely question! This article is so important in todays market.
A Realtor has so much insight in this area of concern for all home owners. We see what it takes to sell a home on a daily basis. I personally am touring the market weekly visiting homes for sale and looking at obvious and not so obvious conditions of a home.
My stager is also someone I consult with and she yeilds expert advise on what it is going to take to sell a home. Having a Realtor with a team of experts (stagers to contractors) is a valuable option for you when leveraging your home in the market place! It may take some dollars upfront to make the big dollars in the sale of the home. Cheers!
A Realtor has so much insight in this area of concern for all home owners. We see what it takes to sell a home on a daily basis. I personally am touring the market weekly visiting homes for sale and looking at obvious and not so obvious conditions of a home.
My stager is also someone I consult with and she yeilds expert advise on what it is going to take to sell a home. Having a Realtor with a team of experts (stagers to contractors) is a valuable option for you when leveraging your home in the market place! It may take some dollars upfront to make the big dollars in the sale of the home. Cheers!
- Nancy Lee, "An OrderLee Home"
- Contributions:1195
This is an old thread.
But it is a good question - very timely for people who are preparing to put their houses on the market when Spring arrives (and, if you are planning to list your house in a few months, now is the time to start preparing).
And, one key component was missed in the original discussion. So, here I go.
Ask an RE agent. Ask several. Make this question part of the interview you do to select a listing agent.
If you plan to have your house appraised before you list it, then certainly ask the appraiser. But, remember, appraisals have a very limited shelf life. An appraisal done now, during the slow selling season, may not be the same as an appraisal done next April. Don't rush this one unless you happen to know an appraiser and can just talk to them.
Ask a successful stager. Most successful stagers spend hours each week researching their market. We visit Open Houses, then pay attention to what sells quickly and what lingers. After a house is staged, we keep in touch with the home owner, we ask about the feedback potential buyers are giving. We seek to constantly learn and tune our trade. We look for the least expensive way to add value to a property.
I call staging 'presentation marketing'. It begins with what needs to be fixed (not, as Geordy said, what someone thinks needs to be fixed). It moves into the changes that will present a house as being welcoming, as easy and good to live in. On my website, in the science and art of staging, I offer pages of generic advice. And you are welcome to explore there.
But, if you are planning to list your house sometime soon, I encourage you to interview local stagers and select someone who really understands your local market. Most stagers offer a consultation service to provide you with a presentation marketing plan you can implement at your own pace. Most stagers will help you implement that plan if you wish.
But it is a good question - very timely for people who are preparing to put their houses on the market when Spring arrives (and, if you are planning to list your house in a few months, now is the time to start preparing).
And, one key component was missed in the original discussion. So, here I go.
Ask an RE agent. Ask several. Make this question part of the interview you do to select a listing agent.
If you plan to have your house appraised before you list it, then certainly ask the appraiser. But, remember, appraisals have a very limited shelf life. An appraisal done now, during the slow selling season, may not be the same as an appraisal done next April. Don't rush this one unless you happen to know an appraiser and can just talk to them.
Ask a successful stager. Most successful stagers spend hours each week researching their market. We visit Open Houses, then pay attention to what sells quickly and what lingers. After a house is staged, we keep in touch with the home owner, we ask about the feedback potential buyers are giving. We seek to constantly learn and tune our trade. We look for the least expensive way to add value to a property.
I call staging 'presentation marketing'. It begins with what needs to be fixed (not, as Geordy said, what someone thinks needs to be fixed). It moves into the changes that will present a house as being welcoming, as easy and good to live in. On my website, in the science and art of staging, I offer pages of generic advice. And you are welcome to explore there.
But, if you are planning to list your house sometime soon, I encourage you to interview local stagers and select someone who really understands your local market. Most stagers offer a consultation service to provide you with a presentation marketing plan you can implement at your own pace. Most stagers will help you implement that plan if you wish.
- Marjie Van Der Laan Broker, "Tall_Marjie"
- Contributions:343
Strongly agree with "geordy." Cleaning goes a long way, along with some staging and de-personalizing of your home. When people go into your home they want to be able to visualize themselves there, not feel like a guest. Make it as close to model-home condition as you can. Need inspiration? Visit Street of Dreams or any new home builder.
- Geordy Rostad, "geordy"
- Contributions:991
I just did a consultation for someone for this. The owner came up with a list of over $10,000 worth of work they were going to do to prepare the home for sale. Someone recommended they ask my opinion on this matter so I took a look around their house and gave them a new list of items amounting to less than $1,000.
They followed my recommendations and sold the home in less than a week.
Here are a couple of things I told them:
"It was like that when you bought it and you still bought it anyway, right? If you didn't care enough not to buy it, chances are the next buyer won't either."
"Fix anything that needs fixing but don't try to upgrade because upgrading one thing with make the other things look worse"
"Clean, clean, clean! Clean what you have. Doesn't cost much but has a huge impact."
Had they spent that $10,000, I don't feel they would have gotten a dime more from the home. In this market it's ALL about price. Don't do anything that will force you to raise the price.
I made a mistake when I sold my own home in 2006. I replaced my roof even though it wasn't leaking. In my opinion, it just needed a new roof because it looked a bit questionable. I ended up reducing the price of my home considerably and the buyers who finally purchased it told me they were going to do a second story addition in the next couple years. DOH!
They followed my recommendations and sold the home in less than a week.
Here are a couple of things I told them:
"It was like that when you bought it and you still bought it anyway, right? If you didn't care enough not to buy it, chances are the next buyer won't either."
"Fix anything that needs fixing but don't try to upgrade because upgrading one thing with make the other things look worse"
"Clean, clean, clean! Clean what you have. Doesn't cost much but has a huge impact."
Had they spent that $10,000, I don't feel they would have gotten a dime more from the home. In this market it's ALL about price. Don't do anything that will force you to raise the price.
I made a mistake when I sold my own home in 2006. I replaced my roof even though it wasn't leaking. In my opinion, it just needed a new roof because it looked a bit questionable. I ended up reducing the price of my home considerably and the buyers who finally purchased it told me they were going to do a second story addition in the next couple years. DOH!
- The Leonardo Team
- Contributions:631
Hi Tempes,
Good question. In my opinion it should be the Realtor, if he or she are active ones, because they know what clients are looking for and what features/benefits are of more value. For instance in my local market a pool is very desirable but even here depending on the area and the clients age a pool might be not desired at all hence why some adult communities have their own community pool. Anyways these are my 2 cents. Good luck.
Leonardo
Good question. In my opinion it should be the Realtor, if he or she are active ones, because they know what clients are looking for and what features/benefits are of more value. For instance in my local market a pool is very desirable but even here depending on the area and the clients age a pool might be not desired at all hence why some adult communities have their own community pool. Anyways these are my 2 cents. Good luck.
Leonardo
- real estate mike
- Contributions:2001
It is a great question. The nationwide statistics do little to help as your neighborhood is what matters. Also getting discounts on materials and putting in sweat equity make all the difference. I would ask both an appraiser and a local realtor. Quality additional square footage can be a great value addition. Also ask the appraiser and realtor to refer you to contractors. Their estimates can vary quite a bit. Doing the improvements for you and your family first and as adding value second is usually solid advice. best of luck.
- Sandro - NW Real Estate, "NW Real Estate Agent"
- Contributions:86
Interesting question....
Assuming that you are asking because you are thinking of selling... Do you want to remodel to add value and make a profit? if you take a look at the site mentioned by Rebecca: Cost vs. ROI on Remodels
then all remodels lose money, you do not recuperate the money invested. In the best case for the west-coast (pacific-upscale table) for every dollar you put in, you would get 87 cents back.
I am sure there are exceptions to these general rules. But I would only do a remodel to improve my quality of life and not to put the house for sale.
On the other hand if you are looking at selling a home, I would do other things to make it more appealing to prospective buyers. These include fresh paint, flowers, window cleaning, window screens, etc. None of these are huge expenses and will increase your chances of selling the property.
Hope this helps.
- Rich from Tennessee
- Contributions:58
Both as each one can share a different perspective and explain why! If you are planning to sell your home in the near future, you may want to determine how much "value" you can add to your home without exceeding the value of comparable homes in your neighborhood. It is not uncommon where we see a homeowner perform a lot of remodeling only to learn they have invested more than the home can possibly be sold for.
Hope this helps!
Hope this helps!
- Rebecca Carlson, "Rebecca sells homes"
- Contributions:65
Hello! My recommendation would be to ask a Realtor. Not only are they free, but they have the most up-to-date pulse on what buyers are looking for in a home in your market. Generally, people look for updated bathrooms and kitchens. Depending upon the style of home you have, hardwoods are usually preferred over carpeting.
Here's a great website that provides some average figures for the ROI on remodels.
Cost vs. ROI on Remodels
Good Luck!
Here's a great website that provides some average figures for the ROI on remodels.
Cost vs. ROI on Remodels
Good Luck!
- workabee
- Contributions:1030
Ask both.
Who do I ask realtor or Apppraiser about what changes to make to my house to add more value
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