Hello there! I hope Thanksgiving was a great holiday for you and your family this year, as I had a wonderful holiday with my family!
Many times when I am taking another listing in and around the DFW Airport, my sellers resist making any upgrades or improvements to their house. 99% of the time they will say something like, “I am not going to install granite counter tops in the kitchen because surely I would not pick the right color for the next buyer.” This is usually followed up by, “Let them do it, that way they get what they want.”
Well the reality is, in today’s very competitive market, buyers have so much inventory to look at that if your home is not at the top of its game, then it will ultimately get passed by for the house that does have the granite and other current updates.
Below is a “Before” picture of a listing of mine that I had in Keller, Tx. You will notice that floors are a pale stain color, the countertops are white Firmica, the backsplash and island are 4 inch glossy blue tiles and the cooktop is old.
Now after being on the market 4 nearly 5 months and the seller getting tired of hearing, “Not enough updates in this home to justify price” or “Kitchen too out dated”, the seller finally took action. She paid just $1400 to have the wood floors resurfaced and darkened which brought the wood floors closer to the “hand scrapped” look that most buyers want in todays market. She then found a granite and tile company that would install all of the new granite, the tumbled tile backsplash, the stainless steel undermount sink, a new faucet, and a cooktop that was bought on Craigslist. Guess how much her total came to? I would have thought $5000 or higher. Many of buyers were likely tallying similar numbers in their heads. Nope… she paid only $3200 for the amazing kitchen remodel! And look at the difference below!
By doing these well needed upgrades (and leaving the asking price alone), the seller did received a contract within TWO WEEKS of the upgrades being complete, she got very close to her asking price and now she is about to move into her new house across town!
It is a competitive market place out there! Don’t fool yourselves seller’s. Your house has to be at the top of it’s game to compete. If not, the price better dramatically reflect the updates that need to be done.
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