No. of Recommendations: 1
How true. Nine years ago we had to relocate to Rhode Island due to a job loss. We bought a magnificent 100 year old colonial. It was the house of my dreams. We put $30,000 into the house and sold it a year and a half later for $102,000 more than what we paid. We did not do any massive renovations either. We upgraded the appliances in the old kitchen with beautiful stainless steel. We splurged on a Viking stove which was a real selling point for the house. We took out the nasty old linoleum from the sunroom and replaced it with a hardwood floor from the Home Depot. We replaced storm doors. The house was perfect when we had to sell it and we never gut renovated anything. The kitchen floor was white and although the owner said it was fairly new, it was dingy. I attacked the floor with a Magic Eraser sponge and it looked brand new again.
We sold at the top of the market. The house is now worth much less than what we sold it for.
We will be looking to buy a much smaller house when we retire and I am drawn to houses that have a bit of character and good bones and does not need a gut renovation!
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