How does your home match up with what buyers are looking for? Most buyers like sparkling new kitchens and baths. So you’re thinking, “A-HA! I should put in a new kitchen — granite, travertine, stainless steel!” If that’s what you want to live in — go ahead. The sky’s the limit. But if you’re planning to recoup your investment with an improved sale price right away, you might want to think again. Based on this information, repair or replace the roof and polish up those hardwood floors.
This doesn’t mean that you should put your house on the market without having done any maintenance for the last 30 years and expect an average or better price. Leaks, dripping faucets, peeling paint and cracked windows will turn off the average buyer in a big hurry. You will get low-ball offers from vendors looking to flip the house. They’ll offer you about 60-70% of the going rate for you home. If that’s what you want to to accept, call me. I’ve got several of those investors just waiting for your home to come along.