Warren County Ohio Real Estate News and Observations: What If You Had To Sell Your Home Tomorrow?

What If You Had To Sell Your Home Tomorrow?

Top condition homes sell faster

We've lived in our home for over 25 years (and that's not it in the picture).  There's not much about our home that's the same as when we bought it.  We (okay, our contractors) completed gutted and remodeled both baths and our kitchen.  Walls have been removed. Skylights replaced.  Windows replaced.  There's not an original exterior door left.  We've removed a wall and opened up the floor plan.  Even added an acre to our lot with a purchase from a neighbor.

And yet, if there was an emergency requiring us to move quickly, our home wouldn't be quite ready to have a For Sale sign in the yard.  It's mostly minor work projects like replacing the laundry room floor, making some adjustments to a door's fit, patching a spot in the driveway, etc.  Nothing too expensive or overly complicated, but they're things that would need to be done to have our home ready to be optimal for selling.

The good news?  Everything major we've done to our home has been done well in advance of selling our home.  We planned and have gotten to enjoy the fruits of our labor.

Too often we see home sellers go into a remodeling frenzy just prior to selling their home.  They'll pour tens of thousands of dollars into updating their home prior to placing it on the market.  And while the buyers are going to love the changes, the seller may not see much of their money back in an improved sales price.

Let's say for instance that a seller purchased at the upper end of their neighborhood's price range.  Now adding lots of dollars in improvements may not be able to increase the home's value because the rest of the neighborhood's values won't support it.  Sure, the home should sell faster because of the updates, but that may be the main gain for the sellers.

In our opinion, you're better off maintaining your home through the years.  Update, remodel, replace as you need to.  Then enjoy the benefit of living in your improved home.  And when it's time to actually sell your home?  Just make the minor changes needed.

Got questions about knowing what you should and shouldn't change in your home?  The answers are easy to get, just call me at 513-520-5305 for a chat.  Like what you hear, we can meet in person and get even more detailed about determining the best path to take care of your future home needs!

 

We look forward to hearing from you!

Serving Greater Cincinnati home buyers and sellers,

Bill of Liz and Bill aka BLiz  

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

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Comment balloon 7 commentsLiz and Bill Spear • December 28 2018 12:54AM

Comments

Great advice Liz and Bill! :)  Many buyers do not want to bother with updating, and those that do expect to be paid handsomely for the hassle. So, it is best to go ahead and upgrade over the years and ENJOY your home!

Posted by Sonja Patterson, Texas Monthly 5-Star Realtor Recipient for the Hou (Keller Williams - BV) 25 days ago

BLiz- You are spot on with this post. If only we would all do what we can to maintain our homes while we are living in them, and update them as needed rather than waiting until it’s time to sell.

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 25 days ago

Hi Bill, I agree that is most cases, it is foolish to remodel and then put the home up for sale. In a perfect world, we would all keep it updated and perfect. But then, we would have to deal with contractors which is not so much fun. 

Posted by Janice Zaltman Realtor, LEED AP (United Realty Group) 25 days ago

Dear BLiz,

Other than paint, very few repairs pay back more than they cost. Might be better to leave the home as is and ask for a lower price. That way the new owners can pick finishes that they like and would love to live with.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) 25 days ago

Too true...we had a couple we knew...Realtors...who before they moved..replaced and updated everything...when they were finshed and listed the house they said they wised they woukd have done it sooner so they could have enjoyed it...indeed ...they moved to Florida and he died a short time later.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 25 days ago

Bill, you're just full of wisdom this week! I agree wholeheartedly and why not enjoy the fruits of your labor - update, enjoy, sell...in that order! (And, of course, maintain along the way.)

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 24 days ago

Great information, thanks for sharing.  I hope 2019 is a great year for you.

Posted by Richard Weeks, REALTOR®, Broker 22 days ago

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