Updating House

[bassNspear]

I wanted to get some into for you guys about a few things. We are looking to sell within 1-2 years, so i know most of you will know what is best. We are in the process of thinking about update our hosue before we sell it. Applicance, carpet and kitch couter tops. Do you get this value of redoing and replacing this stuff before you sell your house or not.

[Pooh]

ive been told that kitchens and bathrooms are the 2 biggest factors in driving the value up. me personally it would be the flooring, in the kitchen: cabinets, sink, flooring again and appliances. and then the batheroom vanity, stool and tub/shower.

just my take tho

[Stratosman]

In the current RE market, focus on the things that you can update by doing yourself, that way one can expect to get 100% or better on the improvments, think of things like, can the cabinets be painted instead of being replaces, that's a huge difference in cost vs. return. Flooring that can be done yourself, if you have the know how to do a quality installation, can also be a big benefit, but keep in mind, things that are done poorly and have obvious cosmetic flaws are MAJOR turn off's for potential buyers. Also alot depends on the comps in your area, don't update and price yourself out of the market for your area. For example, don't put $8,000 worth of high end appliances in a house that's market value is $175,000. Typically, paint, flooring, bath and kitchen are the biggest returns, within reason.

[nofishfisherman]

Like said above kitchesn and bathrooms are the two biggest money makers. However, the increase in value will depend on how bad/outdated your current stuff is.

There are alot of simple relatively inexpensive things you can do to update your place without gutting any of the rooms.

If you have an outdated color toilet and vanity top those are two easy things to replace yourself and can be done for a couple hundred bucks. Also a good time to put on a new facuet.

Same thing for kitchen counter top. You can get a decent looking laminent counter that you can install yourself, again a couple hundred bucks depending on counter size and exactly what style you go with. Don't forget the new facuet here as well.

Light fixtures are another easy thing to do, might not up the resale value a ton but it makes a place look newer and might help the place sell. Fixtures are cheap and anyone can install them.

Of course a coat of paint is another very simple thing to do. Freshens things up. But I wouldn't do that until you are closer to selling so it still looks fresh when its on the market.

Flooring is another easy option. A cermanic tile floor to repalce any linoleum is another fairly inexpensive fix and a novice can do it with a little time and the right advice.

Replacing kitchen cabinets is a tough call. Perhaps if they are really outdated you might want to do it but they aren't cheap so you may find you don't want to put down the cash to replace them.

Keep in mind if you use credit to purchase any of these the interest rate will cut into profits you see from the extra value you added.

[reddog]

Countertops are always a good investment, mainly because they are relatively cheap to begin with, if you stick with laminate. The biggest budget eater in laminate countertops, is high definition laminate and specialty edge treatment so that the high def laminate looks more like stone.

Just a simple waterfall edge, and new laminate will easily bring more value, assuming that the cabinets below them are worthy of a countertop upgrade.

If the cabinets are not worthy of a countertop update, then, you may do more harm than good, because the potential buyer will think that they will need to upgrade both in the near future.

Appliances depend on the condition of the existing units. If I planned on marketing the house, I would not buy a new large appliance, (range, ref) but I would keep my eyes open over the next couple years to buy a better used range or fridge that is in better shape than the one you are using now. New dishwashers, can be bought very cheaply, ( yes, they are also cheaply built, but it would be new) and typically, an old dishwasher is usually a give away, and not worth the effort, unless, its relatively new, and is being upgraded by the current owners.

Time is on your side.

Cosmetic changes, (Paint and carpet) are both relatively cheap and easy to do. The biggest problem in getting these things done, is motivation to clear out the whole house for painting and recarpeting.

[WaveWacker]

Good luck BNS. The Mrs. and myself are going through similar thoughts(minus the selling part). Not sure what to start on. Seems like once you start, where does one stop. And the biggest factor is that soft water season is just around the corner and you know how motivated one is to stay inside and work on days that lines should be getting wet!!

[bassNspear]

thanks all for your help!

I live in a town home right now, and we are going to be going to a house this time because our family is going to get bigger someday, and we are running out of room the way it is.

All the toliets are white, and in great shape.

As far as paint, my wife is a Interior Designer, so you know what that means, we are in class as she would say!

Im worried about the appliances in the kitchen. The stove is starting to get old! Its the older style where they are the coil tops!

As far as the cabinets, there in top shape as well. Our town home was built in 1998, so its not to old

The flooring was all redone down stairs in the living room, bathroom and kitchen! Looks awesome. That hardwood flooring that snap in!

So my biggest concurn is do i replace the stove, and the dish washer, as they are the same as what was put in the house from day one! Also have to figure out if its right to sell and buy in a year, or in 2 years as well!

Thanks again everyone for the tips. You are helping me out alot!

[BoxMN]

I just rehabbed my bathroom. New vanity and top, new shower base and stool (the champion that will suck down 21 golfs balls, ha!) and also tiled the floor and shower and around the bathtub. It is now a great looking (but still small) bathroom that we will enjoy, and eventually will help sell the place. I think I have about $2500 into it. The biggest expense was the tile and mortar and the glass for the doors (neo angle).

It will be nice when finally done. Looks great, glad I did it myself, but it got to be more expensive than I planned at the start But we really needed it (horrible vinyl floor and cracked shower), and I will use the stool and old vanity for a new bathroom in basement, so some things are recouped cost in the big picture.

edit - just saw your post, and will offer this advice - we sold a townhome just as the markets were starting to go downhill fast - got lucky to only lose a little money. Remember that you are going up against LOTS of townhomes and hoomes out there, most crappy but some pretty nice ones. Keep the colors muted (my "designer" wife wanted that darned red wall, which looked cool, but it turned off a lot of folks, including me. Don't let her do crazy things if you plan to sell). Also, I thinnk a newer appliance is better attraction for the folks who are buying townhomes than an older but "Better"t one. They want "new" or at least think of it as better. I would put the money into new appliances, not top of the line, and also fresh paint just before you put it on the market. The rest, I would just make sure everything is in perfect working condition and then do whatever will make your life more comfortable when you live there.

Then make sure things are fresh and clean and working when you list. Save the money for the new place New appliances and new carpeting and fresh paint will sell the place the best, IMHO. Good luck, and if you read this far into my rambling you must like to read, ha!

[nofishfisherman]

Since you are in a townhome you will need to find a way to distinquish your place from all the others. Maybe start going to open houses at some townhomes in your area to see what the competition looks like and see if you can get ideas to improve in areas that will set your place apart.

Its a tough go selling townhomes right now, the market is saturated and there are still townhomes available that no one has ever lived in.

I know 3 different people in 3 different parts of the metro area who either tried or are trying to sell their townhomes. So far they have all been on the market for well over a year without selling. One couple actually had a ton of work professionaly done and their place looks amazing, much nicer then any other townhome I've been in and yet they still can't give it away.

Renting it out seems to be the option people are looking at now.

Good luck, hopefully the market turns around before you need to make a move.

[chasineyes]

I'm going to go a different route...only if every credit card, department store card, student loan, auto loan etc.,. is paid OFF do you put one dime into real estate.

[Coach1310]

Any upgrades you decide to do, make sure they "fit" in the price point of your house. Like has been said, don't spend $10,000 on commercial kitchen appliances if you have a lesser home value.

As you get closer to putting your house on the market, I would start looking for either a) a set of newer used appliances being sold on clist or some other place. Even in a crappy market, some folks are buying homes and replacing the fixtures and appliances with what they want.... you can get a good deal on these sets. Otherwise look for deals that offer 12 or 18 months no payments no interest etc.. Yeah, you will hear people say if you can't pay for it up front you shouldn't buy it, but in your case when you close you should have the $$$ to pay it off and with the no payments it won't interrupt your cash flow.

Cabinets.... kitchens sell houses....no question. Your home is relatively new, but being it is a townhome and to separate it from the masses you may want to consider either refinishing them or, my personal suggestion, NEW DOORS and HARDWARE. When it is time to sell, check out the new, trendy styles. The doors and hardware will cost you a little, but a lot less then a complete kitchen redo and the trendy style and hardware will give it a "pop" that people(especially women) fall in love with.

My last bit of advice would be don't do more updates then you can afford....meaning in case the market stinks, like now, be comfortable with what you are doing in case you have to live there for a while.

Good luck

[WaveWacker]

Just a stove and a dishwasher huh? Relatively inexpensive as compared to the othter upgrades, good cabinets, etc. that you mentioned you already have. Personally I would rather negotiate down the overall house price so that I can put in appliances that I pick out but there are some people that don't want to mess with doing that.

As mentioned, bad time to to try to sell a townhouse (on average) but a good time to find some "deals" on homes. Buyers have a lot more negotiating power now a days.

[IFallsRon]

You might consider having a home inspection. They may see things that you don't think are important.

Most other things are no brainers if they're upgrades you would made anyway. Anything that doesn't look like it needs fixed or replaced will make a big difference.

[Farmboy1]

Remember, anything you update, needs to be updated to fit the style of the most people walking through the door. Neutral Colors on EVERY wall, NO WALLPAPER, nice carpet, etc.

With the amount of choices of townhomes right now, separate yourself in a good way. I know it may hurt your wifes feelings to paint walls that she has picked out and loves, but it is not for you anymore.

Replace the damaged items that you can, and price it to move. This is an easy way to differentiate yourself. Houses and townhomes will move if they are $5-10,000 lower then the surrounding places. It hurts to sell something and have no equity, or even loose money, but if you really want to move, you may need to.

Good luck!

[crothmeier]

i jsut sold my house in st cloud and heres what i did that stuck out. Mine was built in the early 70s though, and needed alot more, but some of the concepts can still be applied to you.

Update BATHROOMS AND KITCHENS first.

KITCHEN

Countertops can make a HUGE difference walking into a kitchen, and arent hugely expensive. If your cabinets are older, but in good shape put a fresh coat of a gloss or semi-gloss poly on them, and change out the pulls and knobs. I had dark oak cabinets and after a fresh coat and new hardware they looked like new, i couldnt believe i hadnt done it earlier. Even with newer cabinets, a good cleaning and a fresh coat of poly does wonders. New appliances will help a ton. Make the kitchen look brand new.

BATHROOMS

A new shower curtain or shower door before listing, Maybe a new faucet for vanity, and tub/shower. If the tub surround has bad caulking, or the surround is bad look at having someone ceramic tile it. Thats cheap to do and adds an elegant feel to the bathroom.

EVERYWHERE ELSE

If you have wood windows, clean them up nice, and put a fresh coat of poly on them like the kitchen cabinets. Anywhere your carpet has "cattle paths" look at replacing.

Change door knobs to match the hardware in your house, as well as old(retro) looking light fixtures. Brass is OUT, Satin Nickel or Oil Rubbed Bronze are the most popular hardware colors right now.

try to make everything look new, or extrememly well taken care of.

just a few less expensive ideas that creat big results...

[nofishfisherman]

The freshening up of the kicthcen cabinets is a good idea. My dad offered to clean my oak cabinets for me using some cleaner and a wax and they look brand new. I don't recall the name of the wax off hand but it is amazing stuff.

[bassNspear]

this is awesome information that you have all provided.

Thanks again and hopefully we can get moving in the right direction!