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URL:  https://boards.fool.com/carl-it-is-very-hard-to-sell-a-fixer-upper-these-34285649.aspx

Subject:  Re: Question - renovate? Date:  9/1/2019  8:29 AM
Author:  inparadise Number:  14263 of 14287

Carl,

It is very hard to sell a fixer upper these days and you will likely take a price hit that is greater than what you would put into it. That said, be smart about what you do. Some renovations add more value than others.

Look at your property and approach it like a buyer. Does it say deferred maintenance? Fix it. Does it say dirty? Replace it. Cluttered? Remove it. Fresh paint always is good. At least clean your carpets or replace with new. Yeah, hardwood floors are a great selling point, and will make it easier for your Realtor to sell, but if the carpets are not worn or a crazy color, consider just having them professionally cleaned.

Kitchens and baths are emotional push points. Nothing kills a sale faster than outdated kitchens and baths. If you keep the existing floor plan in your kitchen and don't change around the electrical or plumbing, the cost of replacement does not have to be extreme. We have used Wolf Kitchen Cabinets in 3 kitchens we'e renovated, one a home that sold for almost $600K, and find them to be a good value. https://www.wolfhomeproducts.com/wolfclassic Basic grade granite is not that pricey, and there are some great looking laminates out there.

If there are things that you believe need to be addressed but you chose not to do so, have quotes or even multiple quotes to get the work done. Making these available to the buyers will keep them from imagining HUGE replacement costs. The buyer will typically believe it will cost much more money than it does, so have concrete ways to tamper that fear down.

But as AJ says, what you do will depend on your area and where your property fits along the norms there. Your Realtor, if you picked a good one, will have ideas to improve your ability to sell quickly at a better price. But be aware that some Realtors are more interested in making their job easier than putting more money into your check. I say that having been a Realtor. There are good and not so good out there.

Good luck with your sale.

IP
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