Just wondering

[Dale Randall]

We've been in our "starter home" for 25 years, most of those years spent while we were "financially challenged", so not a lot has been done to it.

Things have improved a little in the last few years, and, now that we're at least thinking about the retirement years, we're looking to perhaps move into something a little more comfortable and lower-maintenance, not to mention as a better investment.

We have a two-bedroom, 50-yr old home with a garage added in '83 and two small bedrooms added in '91. The clapboard siding is original, and in okay shape, but the attached garage has unmatched but similar pressed-board siding. New roof shingles two years ago, new concrete driveway two years ago.

New furnace and central A/C in 2003. Total living space, including partially finished, leaky basement, 1,000 sq ft.

The house has been appraised at $85,000.00, and we'd expect at least that in a typically inflated housing market. We're six miles from town, and have a four-inch well (new in 1997) along with the septic.

If we were to stay, we'd replace the deficient septic that functions fine until we get company; the aforementioned leaky basement would have to be dealt with or at least acknowledged on a sales agreement; and the kitchen has horribly outdated cabinetry and a portable dishwasher that is inappropriate for the small space provided (we should have a built-in). The single bathroom is quite small, but clean with linoleum floor, old tub and shower curtain.

My question is this (and again, we're looking toward retirement in roughly ten years): Is it worth pouring money into a remodeled kitchen, bathroom (tear out the tub, replace with new and shower doors etc) and septic replacement for the purpose of selling, or is it wiser to try to sell a "problem house" as is, take your losses and run?

I realize it's tough to make an assessment with limited and generalized information, but I guess I'm asking what those who've been through it would "generally" answer. In most cases, is it worth it to make the investment?

For example, I'm told I'd never get back the investment in a remodeled kitchen or bathroom on the sale price of the house.

Just wondering. Thanks in advance for the input.

[Oscar_Lives]

You answered your own question. Now sell that dog and get a new one.

GIT ER DONE.

[Joseph Meehan]

You will not get the money back in almost any case. If you do the fix up will it be what the new owner wants. Say you remodel the kitchen. Now the new owner may not have liked the old one, and could have adjusted say $5,000 to allow for the changes they would make. Now you just made $5,000 in changes, but not the ones they would want, so they figure they will spend an additional $3,000 to get it almost a good to them as they would have if they spent the $5,000 rather than you.

Get rid of any and all clutter or old or excess furniture, move it out to rented storage. Do basic yard work, trim the trees, mow the grass, maybe paint (nice neutral colors) of the worse rooms (do it yourself) Check with your realtor first for an outside opinion and suggestions.

[barry martin]

Dale:

DR> My question is this (and again, we're looking toward retirement in roughly DR> ten years): Is it worth pouring money into a remodeled kitchen, bathroom DR> (tear out the tub, replace with new and shower doors etc) and septic DR> replacement for the purpose of selling, or is it wiser to try to sell a DR> "problem house" as is, take your losses and run?

Personally I would do what you felt like to the house and wanted to. You did not buy the house as investment property; you bought it to be a home. Any work you do might be ripped out by the new owners; I would not worry about them too much.

IF you desire an updated kitchen, do so. Consider refacing rather than replacing, especially if the cabinets are good/solid but the doors are aged. As for the dishwasher, perhaps a little bit of construction to give room for the built-in.

As for the bathroom, there are replacement tub installs: they lay in a plastic tub over the original tub, then wall panels. (If you have a window in the tub this may be a problem.)

As for 'opening up' a small bathroom (to make it look larger), go with shower curtains rather than doors. Shower doors will visually block and make the room look smaller, even when one is open. (Corrugated/ folding shower doors are a pain: had them at the apartment complex. Can't clean inside the folds so mildew and soap accumulates, the plastic wheels break off.) Consider a pedestal sink -- sure you loose the storage under the sink so consider a cabinet built into the wall (between the studs. Personally I dislike those over-the-toilet cabinets, especially the type held up with poles. Use light colours, though at one time we had a very light oatmeal tile about 5' high with a black-background wallpaper. Maybe it was the contrast.

- ¯ barry.martinþATþthesafebbs.zeppole.com ®

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