Go Down
-
Renovations Before Putting Our House on the Market by andrew on 06 May, 2008 20:26
-
As of last Friday, my wife and I are seriously considering selling our house in order to buy another we really like. So, if we end up moving forward with putting our house on the market, we'll be doing some quick painting to get a few rooms in order.
Some of our crank-out windows are busted (crank mechanisms) so I may have those fixed, but they were like that when we bought the house 4.5 years ago. I'd have to hire someone to do the work, because I'd likely make them worse. It will probably cost $500 - $700 to fix them all. Everything else is pretty much in order, as I've dumped more into this house than I probably should have.
What do you guys think? Should I spend $500 - $700 that I definitely won't get back, before putting it on the market? The inspector I hired definitely didn't notice the window issues when I bought it.
Andrew -
#1 by Timmay on 06 May, 2008 20:38
-
Tricky question there, but I woudl say as long as the windows look good, they probably wont notice them. How often does one open windows when they go look at house. But you ahve to be careful that it doesnt come back on you. I would focus mainly on painting and how the floors look. Get rid of alot of clutter if you have that, the more spacious the house looks the better. We had our house on the market about 2 years ago and we had alot of bites, actually about 4 of them really wanted it but thier financing fell thru. What our realitor told us was to have Kris bake a batch of sugar cookies right before they were to show up and to have some soft instrumental music on. What was an extra bonus for us was it was around Christmas time so our house is always dressed to the 9's for the holidays. We are still here as we took it off the market because after 4 failures on financing we decided it was too much work to go thru it all again. We didnt have a reason at all to move....just cause we wanted soemthing different. I put siding on our house and I have all kinds of people now stopping and asking if I am going to put it back on the market because they are interested....so I dunno....kinda like it a whole lot better now.
-
#2 by BALDANDRE on 06 May, 2008 21:19
-
Dude....yes, yes , yes!!!!
I talk from experience...I've flipped 3 houses, living in each of them for 2 yrs...you have to take care of the things that you notice, especially in this market..
The last house we sold in California, we specifically added a bathroom (5,000) 3 weeks before we put it up...to sell the house...we used it 3 weeks!!!!! I think that second bathroom sealed the deal...along with the house looking as perfect as I could get it...
and you know what, out of 213 houses on the market in the immediate area, we sold ours in a month...that was THIS last summer...during the landslide of home values...and we did not lower our price...
You have to have something good to sell in this market..
Do what it takes bro...if you want to sell it!
Good luck! -
#3 by nomad on 06 May, 2008 21:31
-
ALMOST anything you put into updating a house is worth it. new windows are usually a great investment. The only concern is that the market is so weak now, but it should still pay off.
-
#4 by warhawk on 06 May, 2008 21:32
-
andrew: i say fix the windows. U won't regret it.
WARHAWK
-
#5 by DAT Boy on 06 May, 2008 21:38
-
Andre, you are sooo right on!
Gone are the days when people didn't look at things like windows.
Also, talk to your realtor. If you don't have a realtor, find one that you and your wife really connect with. Remember that this person will be handling one your biggest assets, and you need to really trust this person.
Also see if you can view a few comps and see what the competition (other similar valued and size houses). If your housing market is at all slow, you need to go the extra little bit to woo potential buyers without going too far. Another thing is to figure what your budget can afford to improve and/or fix up the house. I have heard of people with large houses (and large prices) replacing wood floors, adding granite countertops, and other upgrades just to move their white elephant of a house. Sometimes it works, but not always.
-
#6 by nomad on 06 May, 2008 21:44
-
i would aslo say to do some research and like Dat said find some comps in the area and see whats making houses in your area sell. Don't over do the upgrades but do what it takes and you won't regret it. Sometimes its the little things that make a big difference.
-
#7 by BALDANDRE on 06 May, 2008 22:21
-
i would aslo say to do some research and like Dat said find some comps in the area and see whats making houses in your area sell. Don't over do the upgrades but do what it takes and you won't regret it. Sometimes its the little things that make a big difference.
Perfect! Like Nomad said, just don't overdo what your market can take...
But most important, make it an emotional sell...THAT always takes you to the front of the line! -
#8 by Mikekoz13 on 07 May, 2008 04:29
-
Definetly fix those..... because i guy like me would just go the Hell with it I'll fix those...... but most people will instantly be turned off by it. I would use it as a point to bargain the price down a bit if i were buying.
-
#9 by andrew on 07 May, 2008 04:56
-
Sly Bros - thanks for all the informative responses. You've all pursuaded me to go ahead and have the windows fixed. I've already sunk more into this house than I probably should have and it looks great as a result. I'd hate to turn someone off due to the window issue, which is minor cost-wise compared to the other improvements.
We meet with our agent tonight (very aggressive) who will be presenting her market analysis, recommending a price, and then trying to strong-arm us into signing the papers to list with her. Our dilemma is that we only like one house on the market in our price range and if they won't accept a clause in the contract that states the purchase contract is subject to our selling our house first, we may not even list our house.
Thanks again, guys...
-
#10 by RustyRuss on 07 May, 2008 16:58
-
One thing to consider is the type of financing a potential buyer may utilize. Actually, All windows and doors are suppose to function properly as a safety issue, escape thru window from hallway fire, etc. FHA & VA are quite stringent on those issues, actually called the three S's (SSS - Safety, Security, & Saleability). Appraiser's are actually suppose to check to insure that all windows open properly, but inspectors are as well. The liability of a home inspector is far too high should some unknowing buyer get injured as a result of windows not being able to open during a needed emergency exit.
Most city codes, relative to Fire Issues, also require that all windows function properly. I'm an appraiser, for the past 25 years, do FHA, VA, Conv & all types of residential appraisals. I always, always check the windows. Most FHA & VA loans are for first time home buyers, and the rule of thumb is the appraiser is suppose to be his/her protector.
Caveat Emptor (sp) ---- Buyer Beware is what they drill into us during training days with FHA & VA.
I check with local zoning, buildilng codes, fire codes or call a local appraiser/realtor, inspector and ask their opinions.
RR -
#11 by Marz on 07 May, 2008 18:03
-
Great advise has been given on this but I would like to add a tid bit...
Like Andre, I have flipped a couple of houses, the last of which was in CA as prices began a downward spiral.
One of the things we did was to hire a good inspector, spent a little cash on getting an inspection and then we repaired all of the little things (and a couple of larger things) that came up on it. The inspector agreed to come though and re-check these things once the were done and write us a new report. Having a clean home inspection (termite report or whatever) along with receipts for other major renovations we had done over the years was a great help and made a big impact on all of our potential buyers.
I also walked around the house with the inspector the first time and asked questions about nearly everything he wrote down (i.e. "What needs to be done to bring that up to standard?", or "Can this be rectified this way", etc.). Asking these questions can make you feel kinda like a pest but its surprising how much people like to talk about a subject they have experience with (i.e. my post here).
Be a pest if you need to, spend a little time on cleaning up that inspection and keep your ROI high!
-
#12 by andrew on 07 May, 2008 21:22
-
Thanks again guys ... I didn't realize we had experienced house flippers in here. I've always been tempted to do that, but since I'm not much of a craftsman the numbers probably wouldn't work hiring out all the work.
Well, we had our agent over tonight and have drawn up all the paperwork to put our house on the market. (just didn't sign yet) Tomorrow night we're going through the other house again (3rd time) and may make everything official afterward. Our agent asked the listing agent if they'd accept a clause (offer subject to our selling our house first) and surprisingly they will accept that. So, we may list our house and make a formal offer for the other one tomorrow night.
Andrew -
#13 by BALDANDRE on 07 May, 2008 22:17
-
Thanks again guys ... I didn't realize we had experienced house flippers in here. I've always been tempted to do that, but since I'm not much of a craftsman the numbers probably wouldn't work hiring out all the work.
Flipper, yes...craftsmen...NO!
I can't even change out a light!
I just make things purdy!
Plus, we bought old houses (craftmen's from the 1920's) that got a high mark from the inspectors!
Good luck Andrew! -
#14 by nomad on 08 May, 2008 22:35
-
Andrew DO NOT let any agent strong arm you run like hell if thats the case.
I may sound like a knuckle dragging neanderthal around here sometimes but i do have a degree in real estate.