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DesFIP -> RE: Roof Advice (5/1/2011 4:04:36 PM)
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quote:
ORIGINAL: LafayetteLady
In general, it is, from a financial standpoint, to spend more than a couple thousand unless it will bring a return on your investment such as a kitchen or bathroom upgrade. If you are going to spend 5-10K on general stuff just to get a quick sale, you are either an idiot or have money to burn.
Likewise if you think you need to drop your price 50 grand if you don't replace the carpet. It's at most a thousand dollar credit to the buyer.
You entirely missed my point LL. A house that does not look fresh and newly done appears to most people to require much more work than it actually does. Most people won't know that just a couple of weeks and a couple of thousand of dollars would allow them to update quickly. Most people don't know anything about what's required to repair or update a place. If they did, then staging a house would not be necessary.
A house that appears old and out of date will be assumed by most people to require a great deal more to update than is necessary. Just a good scrubbing of kitchen cabinets and new knobs will make the kitchen appear much younger and therefore sell easier. But most people don't have five or ten thousand to put into a place right after moving in and they don't want to live there for two years until they can afford to update it.
And although you might not recover all of the costs, if by doing some updating you can sell the house instead of needing to wait another year to sell, most sellers would think it more than worth it. We're not talking getting $25K more on your house than it's worth, we're talking about it selling or not. A roof torn up by a hailstorm will be avoided by most buyers. It really is that simple.
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