Update, clean and improve, but don’t OVERBUILD for your neighborhood!
Many times home sellers cringe when I begin listing what I recommend they do to prepare their home for sale. However, I almost had to “lasso” the home Seller I met with yesterday. He wanted to build an addition, add a bathroom, plus completely remodel the existing home.
Do not overbuild for your neighborhood if your current or ultimate goal is resale. It does no good to have a $175,000 home in a neighborhood with an average sales price is $120,000.
We struggled, discussed and compromised and finally came up with a list of $15,000 in improvements:
- Fresh interior paint
- Updated light fixtures
- Closet addition to 2nd living area that could be used as bedroom, den or office
- New appliances
- Refinished hardwoods
- Basic repairs
- Minimal landscaping
This home is likely to be purchased by a first-time homebuyer. As most Buyers, they will be impressed with a sparkling clean, move-in ready home with updated fixtures, newer appliances and no needed repairs.
Update, clean and improve, but don’t OVERBUILD for your neighborhood!
It was refreshing to see a Seller so anxious to make this a perfect home for the new owners, and he was smart to consult a REALTOR familiar with the area before incurring major expenses.
If you are considering updates or a remodel, I’m happy to advise you, regardless if you are ready to sell your home in the near future or further down the road.
I’m also happy to share my list of preferred vendors with you – available on my web site as a resource for current, past and future clients!
Lori Cain is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa Oklahoma area, including midtown Tulsa, Owasso, Broken Arrow, Bixby, Sand Springs and Jenks. Please visit Lori’s web site, LoriCain.com or call 918-852-5036.
