We're putting our home on the market. Our real estate agent is really good
and sells numerous homes in this part of Houston. She says we could put the
house on the market at X dollars, and probably sell it rather quickly, sin
ce it's a nice house in good shape. It also has a larger lot than the surro
unding homes and all sorts of recent upgrades to AC/Heating, Water Heater,
Fence, Hardwood floors throughout, etc. The bathrooms and kitchen were upda
ted before we purchased the home in 2005. The updates were good, but they d
idn't do all the granite counter-tops that everyone (except us) likes these
days. We don't particularly like granite and decided to leave the counters
alone until we did a remodel, that we are not going to do now.
So, our real estate agent says we could sell relatively quickly at X dollar
s by only making some cosmetic (paint, etc.) changes. Or, we could make X +
$$$ if we put in granite counter-tops in the kitchen and all bathrooms for
We have our mother-in-law living with us now and the construction would be
a huge disruption for her. Also, the original listing price that the agent
says we can get, without putting in granite, is about what I have been expe
cting to get. If we do the granite, we can get a lot more than the 10K we'l
l be putting in.
However, and don't take this the wrong way please, we don't really need a l
ot of money out of the house. We have a lot of equity and our house will se
ll for a LOT more than what we paid for it in 2005. The real estate prices
for existing homes in Houston (in our area, never flooded) have stayed up t
here, even with the downturn in the oil/gas biz.
Put in the granite for 10K?
(By the way, this is the documented quoted price from the counter-top guy f
On Fri, 3 Jun 2016 07:54:36 -0700 (PDT), email@example.com wrote:
1. never trust a sales-person - especially a real estate agent
2. get a 2nd & 3rd opinion - one from an actual property appraiser
< it might cost you a hundred and fifty bucks or so >
3. look into selling privately
4. the renovations will always cost more - stuff happens
5. see item 1.
On Friday, June 3, 2016 at 11:19:04 AM UTC-4, firstname.lastname@example.org wrote:
I tend to agree. If the house has some obvious defects, I'd fix them.
But granite counter tops? I don't think so. People have different tastes
and if I was the buyer, I'd rather buy it for a little less and put the
color of granite in that I want. Some, may want to redo the whole kitchen
because they want a different style, so the new granite would be a waste.
Or a buyer may not be able to spend the extra $20K or whatever that you
hope to get.
That real estate agent is obviously giving you an honest opinion though.
It's not to her advantage to get people into upgrade projects, seems dumb
to me. You start doing upgrades, it takes time, things happen, you
change your mind about selling. If she was thinking about her benefit,
it's better to sell it now, not delay and risk not selling it later.
On Friday, June 3, 2016 at 10:28:44 AM UTC-5, trader_4 wrote:
Thanks. We're leaning this way. The agent says that if we don't do the granite, they can provide the estimate so potential buyers can see that it's not that expensive to put it in, if they choose that route.
I would tend to keep the transaction clear and simple - rather than
muddy-it-up with un-necessary and complicated conditions-of-sale ...
.. whether I was the seller or the buyer.
Especially if it's a decent home in an active market.
The dealer most often also did the financing in the case of the car
deale ( either through GMAC, Ford Finance, or the bank of the
dealer's choosing)r, so he knew what he was financing.
The risk on a $15,000 car is a lot different than on a $600,000 house
I would fix things that need fixing but not upgrade anything. For
example if shingles are curling and you need a new roof a potential
buyer will certainly deduct the cost of a new roof and maybe more from
I watched my next door neighbor do a ton of upgrades, over price the
house, and have to take an offer far lower than predicted.
He had put in a new bathroom for example and the buyer completely redid
it to accommodate elderly grandparents. New owner even tore out new
carpeting and refinished the hardwood floor beneath.
That is so sad.
My story is not exactly on point, but I had good friends whose real
estate agent told them to fix it up before selling.
I'm 98% sure I told them to advertise it now and if they get the price
they want, or close, they can stop doing fix-ups, and if they don't,
they can do what the agent said. But they listened to her and then
in 2008? the real estate market crashed and they couldn't sell it at
all. Fortunately they got a good tenant, and real estate
can pay well with good tenants, but if those people moved and they got
bad ones the next time, he wouldn't tell me.
They had put in a floor covering that I liked, but I don't think
everyone would. Another potential waste.
When I sell, I'm not painting white so they can paint the baby's room
baby blue. I'll set the price at the market price and then knock it
down $25,000 so they can afford all the repairs. Paint, carpet,
kitchen floor, they'll probably want new windows, new cabinets, new
appliances, new furnace, new AC, new bushes. Maybe 25K isn't enough.
On Friday, June 3, 2016 at 4:55:50 PM UTC-4, Micky wrote:
my next door elderly neighbor died and the family was dead set against doing anything. meanwhile a identical home close by sold in days for 40 grand more.
the do nothing family took near 3 months to sell.......... they dumped it for cheap just to end the hassle.
the buyers have been working on it non stop, its just about done.
90% of home buyers want a completely move in ready home, later they will change paint etc.......
smart sellers make kitchens and bathrooms look awesome.
but hey what anyone chooses to do doesnt effect me or my wallet
Sorry, ignore my other posting - wrong subject as usual...
What I've been told is to fix anything that is broken or needs
replacing. If functional and looks OK, leave it. It's not necessary to
replace windows, kitchen cabinets, etc. Ignore what realtors say about
getting 90% of remodeling costs back - that's BS. Buyers may not like
the new style.
If possible, move all the furniture out. If affordable, paint and
recarpet or refinish floors. If something stands out, like old light
switches, replace it.
What I've seen here are the following types of buyers....
1. Want brand new house or as close to it as possible, will pay top
2. Want house ready to be leveled to build a new house, will pay top
3. Want fixer upper, will try to bargain you down.
Also, don't worry about baking bread before an open house. Everyone is
on to that trick for covering up smells. Better to have all your family
members take a dump in the commode and leave it there just before you
If your house is bad enough it needs 25K of repairs you might have a
terrible time selling it for 25K below market value for similar homes
unless you are in a HOT real estate market.
Right now, is some areas around here, fixer-uppers are routinely
selling for 10-50K over asking - with multiple bids. In another local
area decent houses, requiring only a bit of upgrading but in perfect
livable condition (not redecorated in 30 years or so - but not rough)
are selling in the high 600K range to be knocked down to put up a
bigger house - on half acre lots.
In other areas, even if the house is in better shape than the
surrounding homes - which themselves are prettyu decent - you might
have a hard time selling at what might be considered "market value".
Location, location, and location. The 3 most important factors that
effect house pricing and sales.
John T makes good sense. When my sister sold
the last house, she and hubby spent a pile of
money on carpets and paint. The buyers hated
the color scheme and ripped it all out.
My advice is to do as little as possible, and
sell a few bucks cheaper.
My sister took out the appliances (fridge, stove,
washer, dryer). Which I thought was a very bad
decision, and told her so. We might have found
a young starter family who would use them. The
stove was 50 years old, but worked very nicely.
It sounds like you're looking for support for
your preference to just sell and move on.
Realtors are good with that kind of thing.
They can be wrong, but they'll know far
better than anyone else what you can expect.
On the other hand, at least in my area (Boston)
real estate has become a high stakes gimmick.
They come in ahead of time with their own
furniture and decorations, spec specific work to
be done, then have an open house with closed
bids. The houses generally sell in 3 days for
ridiculous prices! Only people with cash in hand
even have a chance. No waiting for financing.
It used to be that a house just had a
price, might be on the market for months,
and could go through a number of bids before
someone bought it. In Boston the prices are so
high and the market so speculative that the
whole market is now changed. A result of that
is that realtors are quick to specify work that
needs to be done just for looks. It's no skin off
their back if you don't benefit from the new
counters, but they stand to gain if you do.
I once built a large closet with mirror doors just
for a sale, to make a bedroom look bigger and more
atttractive, despite the almost certain knowledge
that any buyer who could afford the house would
be gutting it for renovation.
So... Probably more money, but more hassle
and a possibility of complications. For instance,
what about the backsplashes? Will any of those
need work with the granite counters done?
It's really up to you. Neither choice is right.
A third option would be to just go on the market
and see what happens. If there are no bites you
can always do the counters and then re-list.
(Another big sucker item, which your realtor
probably knows, is stainless steel stove/frig.
Oddly, kitchen cabinets seem to be out of
favor. People swoon over SS stoves but don't
seem to notice junky "fake dark wood" or
Hey, that's great, because that's exactly what I've got. Even I would
rather have fancier cabinets, but only a little. And then there are
all those decisions to make, which contractor, which cabinets, got to
clean out the current ones before they put in the new ones, maybe have
to complain and maybe sue them when things go badly.
Easier to just stick with the cabinets I've got. Heck, in Europe my
family didn't even have cabinets.
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