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<<True, perhaps. And don't forget to JACK THE PRICE 'WAY UP to more than recover your costs.

People in general seem to have a misconception of how real estate, sales or rentals, are priced. You don't price it to cover your costs and then some, you price it to reflect what the market will bear. >>

I would suppose that the popularity of "house flippers" who buy fixer upper properties, fix them up and then sell them for a much higher price reflects this bias of buyers for a house that is already fixed up.

That implies that there is likely a significant premium to be had for spending the time and money to meet the supposed high standards buyers want these days, as reflected by comments in this thread.

Buyers aren't likely to get the house they want to buy fixed up for free. They probably have to pay a significant premium over the actual cost of improvements.

So I would suppose that people should expect to get back their costs and then some.

Of course that has to be done with a degree of shrewdness and a sensitivity for what people will pay for.

Seattle Pioneer
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