Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Comparing a real estate agent's opinion on buying a home to asking an alcoholic about drinking is quite humorous. The housing market in my neighborhood has seen a significant increase in prices, with homes that were sold for $450k in 2019 now going for $800k to $950k. Sellers are making impressive profits of $350k. It's truly unbelievable. While deflation may be necessary, bankruptcy for many would harm the economy. Finding a balance is key to returning to normalcy.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I’m in a remote part of Canada and replaced my kitchen and did a bunch of other work at the same time and it was $35K all in. New vinyl plank, new cabinets, quartz counters, under cabinet lighting. I did a lot of it myself (I am a tradesperson), but still… $100K for a kitchen, in the US? Talk about consumerism.
No pool Don’t gut the kitchen, update kitchen paint, new knobs, faucets, Don’t gut the bathroom, lighting, faucet, paint No additions to the property like a master suite No replacing the doors Don’t replace the roof, get it certified as ok, patch as necessary Don’t replace windows unless broken or leaking Make sure furnace works or replace with refurbished, not new AC HVAC specialist inspection, clean bill of health, refurbished or repaired Remove the popcorn ceiling Paint color of the year, creamy soft white, very neutral Clean the windows
@@janfran16 Upgrading your home over the years, is not a bad idea. However, if your intentions are to put your house on the market to sell so you put a deck on the house, I just have some concerns about getting your money back. Maybe you have a great view that would help sell the property if it had a deck. Every house is different and every location is different. IF you plan on living their for awhile, the upgrades usually average down over the years. I do love decks:)
@@AudraLambert Thanks for your reply, I did not do for resale, however, it is off the kitchen and so handy. Looks are much better from the back of the house too. My pup and I enjoy. Houses here in this area are doing very well, as we are not that far from the DC area, just over the mountain to the east.
We did gut our kitchen and master bath. They were way beyond fixing up and small updates. God awful and bringing the value down. I realize we may not get all the money back but in the process we will attract more buyers willing to have a turn key home.
As a California Professional Civil Engineer that grew up with a General Contractor dad I agree with most of this. I would not change windows but for little cost upgrading the screens looks great. I have also noticed that up grading the front door has positive impact on buyers. The front door the first thing they see when going into the house.
We're putting our house up for sale this summer. The windows are my only concern. They always look dirty - between the panes. It's very noticeable. A few years ago, we had a disagreement on which upgrade we wanted to do. He wanted new windows. I wanted solid wood floors throughout. I won, but it sure makes me wonder how this will affect the sale of our house.
That's what they told us in real estate school - if the front of the house looks crappy and you don't have a lot of cash to fix it up: paint the front door!
Agree. Changed the front door color, which I'd never liked anyhow (entered the house via the garage most of the time). House sold the first day, multiple offers.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short-time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all at this time!
That's awesome! Diversifying your 350K portfolio with the help of an investment coach has really paid off. Making over $730k in net profit from high dividend yield stocks, ETFs, and bonds is quite impressive. Your investment strategy seems to be working wonders for you!
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Clean your windows is huge, yes. Clean those window sills too. Wipe down literally everything, your trim, srub your walls, your bathroom, you get the picture. On the outside any porch should be spotless, and wipe down the siding even around the entryways. All these free things to do will make your home feel clean and inviting to people. They see a home that looks taken care of and it leaves a good impression with people. Im really big on cleaning now after selling my last place the exact same time as one of my neighbors. They had the same floor plan, everything, except theirs was remodeled inside with a brand new kitchen and baths, mine was all original from the 90s. I went to their open house though and their house felt dirty, mud on the side of their balcony, dirty window sills. Mine sold for $20k more than theirs despite them having a complete remodel. Cleaning is so important.
Housing prices likely won’t drop significantly until supply increases. The U.S. is short millions of housing units and isn’t building fast enough. Demand remains high, and even a small dip in prices attracts many buyers. I’m looking to buy affordable houses in 2024 and maybe invest in stocks. When’s the best time to invest in stocks? Some say it’s profitable, but others warn it’s risky. Any advice?
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Having an investment advisor is the best way to go about the stock market right now. I used to depend on TH-cam videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sharon Marissa Wolfe ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
No matter what you do to your kitchen, the buyer is probably going to cut and redo it anyway because everyone's taste and desires are different. Clean it up, paint, and fix anything broken so it looks like you've taken care of your property -- that's what sells your house.
you mean dumping 50K into renovations just to get 50K more for the home, breaking even and wasting time is not worth it??? This - "Clean it up, paint, and fix anything broken"
I would add this advice, based on experience. Make sure the yard is crisp. Some quick, inexpensive self-done landscaping will go miles. I would suggest new mulch, new edgings, and weeding everywhere possible. And touch-up the main entrance door. These are the first and main things people see, subconsciously.
@onehitpick9758 Yes! We had moved out of state and had a guy "taking care" of the yard since we were so far away while the house is on the market. We decided we needed to come back and do a well-check on the property. it turns out the guy had only been mowing- no weeding, no edging, the mulch was faded and scattered. I almost cried when I pulled up to the house and saw the front of the house. We spent two weeks doing touch ups, pressure washing, cleaning windows, weeding, refreshing the mulch, etc. It was like a brand new yard. This is such an important point.
Except for a new roof. Locally if your asphalt shingle roof is 10 years old the new buyer can't get insurance for it. No insurance means no mortgage. No mortgage means no sell except to investors.
This is my second home and I have to say refacing cabinets, replacing rugs, replacing sinks and replacing faucets, painting neutral colors and minor landscaping does the trick.
Refacing cabinets is very expensive. For my tiny kitchen, it's upward of $7,000. I can't see paying tens of thousands to reface the cabinets in a large kitchen just to have the next owner tear it all out.
LOL...I hear ya! I swear to budda that my neighbor just installed a $35k refrigerator (and they did their own install). Buyers in my area expect high end cabinets and appliances...its outrageous!
Really depends where you are. My friend lives in Vegas in a very similar house to mine in San Diego. We have had similar work done these past few years. His contractors charge a fraction of what mine do, and I do a lot of research.
@@Rixdog01 It can also vary by neighborhood. Literally. My last house was in a $500,000 suburban tract. My current house is in a $1M suburban mini tract consisting of 17 semi custom places. Actually, very similar construction. The "contractors" (everyone calls them that even though many are not professional and not licensed) want twice as much for the same work in the $1M neighborhood. i.e. $20,000 to paint the exterior! They smell money as soon as they come into the neighborhood.
Keep your house clean and tidy at all times. Fix and patch nail holes, keep paint fresh and clean on the walls. Keep your furniture looking clean and modern. Live every day in your house as if you're about to sell it. When it finally comes time to sell you will be ready and not panicking at the last minute.
Paint and carpet are the two things I always talk to my clients about. In today's market with so many brand spanking new homes available, your dark red dining room or your kid's Barbie pink bedroom can actually be the difference between a buyer choosing your house or the one down the street that has been painted in all neutrals. The other thing buyers don't usually want to deal with is dirty/ugly carpet, so if it is stained beyond steam cleaning, bright red, etc., I will suggest a flooring change. Often times people can save a ton of money by replacing the carpet with high quality peel and stick vinyl products like Floor Pops or a wood look LVP because they are super DIY friendly. In a lot of markets they are also much more popular with buyers than carpet. A knowledgeable realtor or home stager is your best friend when deciding where to spend money because their job is to know your local market, and they often have creative money saving ideas to help you present your home at its best.
Thanks! but I'm not an agent, I'm a home staging consultant and real estate photographer. My husband is a handyman. A lot of our business is working with people to prep their homes for sale.@@AudraLambert
Doesn’t matter here in smokies of NC and TN. Houses selling (still) in days for cash only because they won’t get a loan. Craziest market I’ve ever seen. Multiple bids and lines and not enough. 250k for crap 1980 double wide with less than an acre, for example.
In fact, the worst it is, the higher the price, the more they want it! That’s all those Florida folks who came here and still Coming to save us all From ourselves and being their ways and problems with them.
@@cumberlandquiltchic1 I hear you...the market feels like its broken. I still can't figure out how people are affording these prices. You're right about the all cash offers.
Its also fine to remodel a house, live in it for 15 years, then sell it when everything still looks basically new, but before stuff starts to wear out again. 15 year old remodel is almost the same as new in the eyes of most retail buyers. If It looks good, then its good.
Yup...agreed. I am just trying to warn home sellers not to invest too much money into their improvements for the sole purpose of selling. They may not get a good return on their investment.
Yes, especially if you go with classic styles and good quality materials when remodeling, instead of foolishly going for trendy looks. Trends quickly come and go, classic style is always "in" and good materials last a long time and wear well. Same goes with personal style, clothes and accessories.
As a Carpenter, I would say that I largely agree with what she is saying. A paint job and some new handles and working heating and cooling goes a long way! Then if you are going to build a new home later, the three most important things to consider are.... Location, location, location!
Thank you this is making me rethink some projects. We are not moving but I like to upkeep my home as if we were. I was going to replace 3 doors (tiny condo) and the cost is slightly over $2000 which is a lot of money for us. I’m just going to invest in fresh hardware knobs and hinges and get those windows cleaned. Great tips. ❤
Why not go to Home Depot, Loew's, etc. & just buy replacement doors & install them on existing frames? It's pretty easy & they shouldn't cost more than $50. apiece, plus new locks & hinges!
@@rongendron8705 Home Depot Hollow Composite Door goes for $66.46 x 11 doors needed in a standard 4 bedroom house = $731.06 not including sales tax plus having a truck to get them home. Plus you still have to buy the hinges and locks. You are still talking close to $1000. Framed doors run more at $146 per door and you have to install them and make sure they are hung correctly. New hardware is the simplest and easiest way to go.
Great video. Furnaces: As someone who spent most of their working life in property management and maintenance I'd say: be careful about "High Efficacy" types. In general they are much higher maintenance, have a shorter life span, require more frequent inspections, and other drawbacks. Almost all the HVAC guys I worked with had low opinions of them. Look for a high quality medium efficiency unit.
HVAC guy here. The only high efficiency system that is going to be a practical investment for most people is a water furnace geothermal unit. High up front cost for a dramatic reduction in energy use and if installed well, needs almost zero maintenance and will last 30 years. Modern basic efficiency equipment is lucky to have 15 years squeezed out of it.
@@geocam2 because hvac techs get paid alot or there is a shortage since everyone is told to go to college to have a good career? sure work in a cubicle and hope you get 2% raise and not get downsized
Good techs in urban areas get paid very well because they are highly skilled and in demand. With all of the technology packed into modern hvac equipment, many of the top performing techs have expertise that rivals mechanical engineers/electrical engineers coming out of school, and there aren’t very many people who have the talent, intelligence, and desire to do what is often very dirty and technical hvac tech work. I would disagree in saying that HVAC companies have a “catbird seat“ many are struggling with staying profitable, struggling to recruit and retain good labor while simultaneously keeping their customers. it’s just basic supply/demand that technicians happen to be paid especially well right now which translates into higher costs for the service companies, and higher prices for the consumers.
I sold an apartment in Rochester and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
“ Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
I just saw this in my feed. We have our house on the market right now and EVERYTHING you said to do and not to do, is what we did and didn't do. I questioned some of it as we were doing it, but now feel a lot better about the choices we made. We also did landscape and that sure upgraded the curb appeal. Our relator and the ones that came to the open house could not believe how new the house looks. It put us in the high end of the market for the area. OH I almost forgot, we had most of our ceilings with pickled white lap and gap and one of the changes we made, we did add the lap and gap to a couple of rooms that didn't have it. Now the whole house has it in them including the baths , closet and pantry. Thanks and great advice, people should take it!!
I am so thrilled to hear everything worked out well for you. Great job!! I really appreciate your comment. I am sure the lap and gap really elevated those rooms. Best of luck!!
@@oltedders Laughing...Its shiplap. Are you familiar with that? If not, just google it. To be honest, I have never heard anyone call it "lap and cap"...I had to look it up too. It does look very nice on the walls/ceilings:)
@AudraLambert I thought maybe it was shiplap. Chip & Joanna Gaines did that look until it became just another corny solution in their predictable arsenal of fixes. It's a great look for ceilings, but it has to have a seamless transition where it meets the wall. Otherwise, it looks tacky. The roof has to be in tip-top condition also as a leak can ruin the entire ceiling if you've opted for natural wood. Large expanses demand beams, of course. I'm dubious about putting it on the ceiling of a smaller room unless you're going for a theme effect. Thanks for filling me in on that. I'm glad your video came up in my feed...good advice.
Thank you, most of what you said I agree with. I live in a unique part of the country where the first 2 minutes of the video doesn't apply here. I did a complete kitchen remod in 2020. We went back to the framing and had to add additional walls due to this house is full masonry and had no electric outlets or even a light switch in the kitchen. $8000 later we have a completely new kitchen, 26 cabinets and 52 square feet of custom counter tops plus much more. Thanks for the information.
Thumbs up on the video. I’ve been shopping for a house for a long time, but they all are crappy. Everything is dated, but has a fresh paint, roof is patchy, Water Heater, and HVAC on the last leg and on and on. It appears that they’ve been watching this video.
Thanks for sharing! I think several home sellers are getting a bit ambitious with their price as it relates to the condition of their home. In the last 3 years, home sellers have been in the drivers seat because there has been a scarcity of inventory. In the past, sellers haven't been required to do much to sell their home...well, in my experience, this is changing. Thanks for your comment.
I disagree about the roof, in Florida. Before the sale, there will be a wind mitigation inspection. If the roof has just been dolled up, it won't get a good grade on the inspection and your insurance will be higher. Insurance companies won't even cover your home if the roof is too old.
Thank you! I would much rather come in and buy a kitchen that is in good working order than they kitchen that the sellers "thought" I wanted. Just because it has expensive granite counter tops doesn't mean they are pretty to the buyer. So many choices in all finishes out there, let the buyer choose their own.
When I was spending every weekend and spare minute looking at possible new home for us back during the great recession, I was saddened by how much high end work that many sellers had paid to have done and their realtors bragged about it. But, it made no difference to me. I didn't care for it and knew I'd just have to redo it to my standards and tastes if I bought the place.
But that applies to any counter top, or backsplash, or whatever. Not everybody is going to like everything, so install what you like, and let the new owner figure it out when it's their turn.
I detest granite tops. Not only are they totally ugly and look like they're always dirty but they give off radiation because they are a nature element.
We are working closely with a really great knowledgeable realtor who is keeping us on target to fix our place to sell. Not our first time to sell a home either…
Audra, you are 100% correct. I sold RE on Miami Beach for 10 years. Your advice is tried and true. Here in Florida new roofs are demanded by homeowner insurers even if the current roof is in perfect condition. They time you out! Yikes! I found many buyers dont want a pool, also they want a real garage not an enclosed one. I watched your other videos abt not selling your home, correct again. You bought that house with "old" dollars, after all the expenses and costs to move, purchase a new home, closing costs eic you are lucky to break even. BTW the taxes insurance, etc are going to greatly increase with the new inflated price. Can buyers handle the new bills? Great advice all around. Thanks for your honesty.❤️
Thanks you soooo much for your comment. Really appreciate it. I am putting a new video out tomorrow about what to look for when buying or selling a home. I specifically talk about homeowners in Florida because I received so much feedback from them regarding their roofs and windows. Our insurance costs here in California is outrageous. Sounds like you have a similar issues. I really don't know how people are doing it...especially first time home owners. Appreciate your support.
I don't under a real garage vs an enclosed one. Can you describe what each one is, please? Here, an enclosed garage is a normal garage and one that is not enclosed is called a car port.
@@melissaroth4467 Hi Melissa, yes you are correct. An enclosed garage can and can not be attached to the house but its completely covered. A garage that is not enclosed can and cannot be attached to a property but has more of a covering (not enclosed)...its open. Hope that helps. Thanks for watching.
@@AudraLambert I subscribed to your channel and advised my niece to do the same. She owns several properties and your advice will be of interest to you. Thanks you.
We live in North Carolina. My daughter just sold their house 7 months ago. They had an in-ground pool. She listed it on a Friday and had 16 showings over that first weekend, with 4 sellers immediately putting in offers. A bidding war started and she ended up selling for $5000 over asking plus another $5000 in appliance allowances. So it sold that first weekend! So a pool can definitely be a good investment if your family enjoys using it. We all sure did for many years, and both grandchildren learned to swim in it. But I agree with the no to remodeling, as that can be a matter of taste and you can’t predict someone else’s preferences on design.
I agree with you 100%. My only suggestion is not to put a pool in for the only purpose of selling a home. People who love pools...LOVE THEM and will pay a premium for them. However, the cost of installing a pool for the only purpose of fetching a higher price on the resale market is risky. Thanks for commenting.
You didn’t mention that it was because of the pool that she had offers. And how long ago was the pool installed? She didn’t say that a pool would be a deterrent or a positive for buyers although it may be for some. It was the fact that installing a pool would not pay for itself.
A pool depends upon where you live. I live in Wisconsin and in my last house had an out door unground pool. I kept it up but closing and opening was a pain every year, but was able to sell the house and the pool was not a problem. I built a new house and had the home designed with an inground pool installed in the house (requires appropriate engineering and design). Have not yet sold the house, but it will be the desire of the buyer. A realtor told me that most people will not want a pool, although an indoor pool will be more advantageous than an outdoor one, but if someone is looking for a home with an indoor pool the number of homes with one will be much fewer. I love the indoor pool. Much less maintenance than the outdoor one, and with year round use. Also, an outdoor above ground pool should be removed before considering the sale of your home.
I WOULD update exterior doors and get doors that don't have side lights! In this day, security is top in people's minds! Also, if you decide to keep the doors, check the screws used on the hinges! you most likely will find very small short screws that will NOT hold if someone decides to break in. Purchase much longer screws and screw them deep into the door jams and studs behind it. That is a good investment of time. Also, install a deadbolt on every door. You and your family will feel safer and a new buyer will see that he doesn't have to invest in one shortly after buying the home, although you should change the locks in case others have keys to the property.
Hello there! You offer good advice. If you are selling your house, however, I am not sure I would go to all that trouble. If you own your house or are buying a house it's a good idea to secure the property securely. For homeowners who are selling, there is so much to do and "things" are so expensive, putting dead bolts on every door and replacing door screws with longer screws may be down lower on the lists. Most buyers won't ask if there are deadbolts and longer screws on the doors. In fact, I have never been asked that. However, now that you mention it, I just. may make the investment into my own property. Very good idea...thanks for bringing it to my attention.
Great info! We are selling our one-story single family house built in 1960s and purchased 15 years ago for $85k. Already replaced the roof two years ago due to what insurance referred to as granular loss. Was ready to gut the kitchen and guest bathroom before I watched this. Subbed!
2023 Boulder, Colorado here. Just got estimates to get rid of ONE popcorn ceiling (the kitchen’s). Bids came in, low = $4k, high = $8k!!! Can’t see how there could possibly ever be return on investment!
Really depends on the area and how strong buyer demand is in your area. Boulder, CO from my understanding has a lot people moving to the area. Popcorn ceilings do date the house...but if you're the only one in the neighborhood a buyer might not care..and/or ask for a credit. I would get the popcorn ceilings tested for asbestos...that could create a major health risk. Appreciate your comment.
@@AudraLambert Very hot real estate area for years. 1980’s home. Tested everything and its brother, including all popcorn, for asbestos - all clear. Only worry was radon, for which we mitigated.
Great video! You have completely backed up what I continue to say. We own a historical home built in 1869. The previous owners gutted it and tried to keep its integrity in 1970. I did have to get rid of the pink countertops in the kitchen, but I am trying my best to only do what is necessary. Thank you
Thank you for the compliment. You'll do great! Historical homes have a lot of charm. I would just focus on making sure "things" work. Best of luck to you!!
Great content! We bought our home in early Feb 2020, but didn't move in until mid March 2020 - right before COVID -19. In retrospect, we should have had the popcorn ceilings and entire house painted during that time. We just weren't thinking straight and missed a HUGE opportunity to do it without all of our stuff in the house. Total bummer as we still have all the popcorn and some rooms with wacky paint jobs left by previous home owners....
If you do choose to remove the popcorn ceilings, please make sure that you have a Certified Asbestos Consultant test the ceiling for asbestos, and if it contains asbestos (most acoustic ceiling spray does), have a licensed asbestos removal contractor legally and properly remove and dispose of it. Asbestos is no joke, and asbestos related diseases take many years to show up, but they are usually fatal.
Yes, I know what a mess that can be. I had my ceiling scraped several years ago...and WHAT A MESS!! I would check to see if your popcorn ceiling have asbestos. Its quite the hazard. Thanks for watching!!
For me, I like putting in new door levers, new door hinges (if they have been painted), new modern looking outlets and switches, new cabinet knobs/pulls, new faucets, and a new exterior front door lever (and paint the front door).
This is a good advice for a newer or recently updated home. You can't make a 30 years old carpet or 50 years old bathroom look compelling. Most people want to move in and live, those who want to remodel on their own are looking for steep discounts. Also, if making repairs doesn't pay off, how do the flippers make their money?
Flippers usually use low quality products, or they themselves are General Contractors and can do the work relatively inexpensively. However, they are fixing the property up quickly so they don't loose a lot of money. Some of the flippers skimp on the finish product. I hear ya about older homes. I love older homes! Sometimes older bathrooms and kitchens are charming. However, if it really worn out, it may make sense to remodel...just don't install top of the line..stick to a budget. Thanks for your comment.
Flippers hide a lot of issues and often stick unsuspecting buyers. They also buy below market. Im inundated with calls every week asking if I want to sell. I handled foreclosures after the crash. I had one investor that always sent me offers 40% below asking. I had to present everything so it was a lot of work and we always had multiple offers. I finally called him one day and asked if he actually ever got the contract. He said he puts in over 100 contracts a month and was closing two to three a month. It was an ascending market after 2012 so he couldn’t lose. Back to flippers I would never ever buy one.
I agree with you except roof and furnace because how old your roof and furnace (or HVAC in general) makes a difference. Whenever I find houses for my clients, I factor them into offers and we always negotiate the final price based on the age of roof and HVAC.
Totally got the investment + back on last house. Full kitchen , main floor floors, master bath and repainted rest of house. Roof had been updated 10 years before, newer furnace and AC and water heater. Use high end fixtures and plumbing fixtures in specific areas. As a home owner who has bought and sold I look for the nicer updates. Your recommendation is why husbands fight their wives on renovating their homes. You actually make it harder on the people trying to improve the home.
Hello There...I am not against renovating a home or improving it. I am just saying don't put a ton of money into a home just to sell it. There are so many homeowners who are investing in huge projects for the only purpose of selling a home. I am a huge advocate for maintaining and updating a home...I just wouldn't do it all at once in efforts to sell your home. Overtime, your upgrades will average down cost wise...but if you put it all in at once and sell shortly thereafter, you may not get the return on your investment that you expected. By the way, if I am buying a house, i will be looking for those nicer upgrades too. Great job on improving. your home. Thanks for watching.
We agree whole heartedly with you. Improving your home as long as you own it and keeping up with repairs is huge in keeping your investment. Doing short cuts or as I like to call it “Turd polish” is just a shotty way to do business. And as a buyer we look at these things closely…
@@RedheadedMusic then you have enjoyed tremendous appreciation. The norm is 6% per year countrywide, location being an obvious influence. I would guess your improvements were done early on to enjoy during your twelve years. Not during the last year you owned the property. You could have done nothing and still made a profit due to the rise in property values. Remodeling definitely will increase the value and make a faster sale but dumping money in for the sale in the last year doesn’t make an equal return.
We need to paint, remove popcorn (asbestos?), replace bathroom floor and front porch stairs, which we plan doing this year or next. We don't plan on doing anything more. We have a roof with 30 more years (of 50), new AC, furnace and HW tank, newer appliances. My hubby didn't want to do the popcorn, so I'm glad you mentioned that.
Sold my last house 15 years ago. I had to replace all 26 of my windows because they had all fogged over inside the double panes. I also painted the exterior and painted the textured ceiling (ugh!) in the hallway. I did completely tear out and rebuild the kitchen 6 years prior and the realtor told me it was absolutely what sold the house. It was beautiful and very functional. I also at the time put in a Jacuzzi-type corner tub in the master bath to replace a standard tub/shower and replaced the tiled shower there that was beginning to fall apart. I got a good price right before the Great Recession happened.
Good for you!! Today, upgrading a property is so expensive and finding reasonable labor is challenging. I just sold a property that had "foggy" windows. We got a quote on replacement and split the cost. Since inventories are much lower now, buyer and sellers are more willing to work together.
@@vvalasek I had looked forward to using the new tub, but in 6 years I used it only once; I didn't have the time to relax there and it wasn't relaxing as it was physically uncomfortable to sit there very long. Very disappointing.
Double paned windows, don’t get me started on what a scam the windows industry has created. We’ve now all replaced our single paned lifetime windows with temporary windows that constantly need replacing for thousands of dollars apiece. I’m willing to put up with an occasional light fogging because carting all the windows in the country to a landfill every 15 to 20 years is insane.
We live out in the country, not in a neighborhood… Our Kitchen was really bad, painting would not have worked and countertops were broken old tiles. We are fixer uppers and handy people…It was built in 1980….We have totally demolished and rebuilt our kitchen and spent no where near $100,000 to do this… more like under $20,000 and we put in custom cabinets and countertops, we did the cabinet install ourselves, new lighting, replaced a couple of single pane windows and new flooring, new gas stove and new fridge. This is making our place POP and will add huge $$$ to the selling cost… new flooring and some carpet… remodeled the very cheesy looking master bath, it had a corner drop in shower and the pan was cracked and leaking, now it a beautiful walk-in in shower… We painted outside repaired rotted wood and painted some of the inside and did some minimal landscaping. This is not our first home to sell, just the one that has been our primary home for a long time. All of our improvements are things we were planning on doing because it needed it. We do improvements as we go along in any home we have with always having the intention of making it the most comfortable practical place to live in and making it easier when we do sell. A home is a big investment and when done right can make bank when you sell. We have increased the value far beyond our investment…Buyers will have a turn key property and our life is better for the improvements. We always have the Big picture in mind. No short cuts here, not in this region. Plus we answer to a higher power and are not looking to scam anyone.
I am jealous! Impressed you did the install yourself. I wish I had "handy" skills like that. Where I live everything is overpriced. Most of the buyers in my area want higher end appliances, cabinetry, and finishes. Its too rich for my blood. I live in Orange County, CA...its way expensive here. Its so refreshing to hear other people chime in about how expensive some of our prices are out here. Congrats on rebuilding your kitchen!!!
@@AudraLambert we live in Sonoma County up north in the People Republic of Kalifornia… my husband and I ( assist as much as my health will let me) do most of the work, but this time we have hired different people along the way to help and will hire flooring guys to do the floor, I cannot crawl around anymore. Lol
no new roof except in FL where insurance does not recognize a roof over 10 yrs old. Replace it in FL if it is near 10 yrs so you have issues staying covered.
So funny you mentioned this...I just finished a video talking about this because I received so much feedback about Florida regarding roofs and windows. Good to know. Thanks.
GREAT tips Audra and thanks for sharing! My home in New Mexico will be sold "As-Is" but I will do some minimal things to make it show better. I need a new roof since it is old, leaking and was damaged by large hail. (It has been inspected.) I also had to replace the front wood fences and gate since they were old and the west side blew over from the high winds this spring. This really already made the curb appeal better. Not sure about what flooring to install in the three bedrooms since I took out the old and original carpeting and pad. But after painting, I might just have new carpeting installed instead of the more expensive options but I will discuss this with the new realtor I will hire along with other minimal things I will do to sell this house in the next year. Keep up your FINE work in your videos and thanks for sharing your professional tips with all of us. 😎
If your handy and can do the work yourself . Kitchen and bathrooms are your best return . I’ve done total remodels on both it’s always paid off for me . Never over spend for your neighborhood is key also.
That is a very good point. Its important to look around your area/neighborhood to see what is customary/common in the properties that have sold. You do not want to upgrade your house more than you need to or what is expected in your area. Thanks for you feedback!
Full kitchen gut and rip down walls and adding a second laundry so no more sharing with the suite: $12K canadian. Added value: over $50K. That's the power of doing all your own work.
Thank you for this video. It pretty much confirmed what my intuition was telling me, but it's nice to have someone that knows a lot more about it say the same things. Since I'm doing the vast majority of the work myself, it also takes a lot off my to do list, lol.
@@AudraLambert Thanks, but it's not by choice, lol. I do have one question. My mom passed recently and I'm an only child, so I inherited a hoarder house that was built in the 50s, so the rooms are all chopped up. If I remove one cabinet, it opens up the kitchen to the dining room. Do you think it might be smart to take that one cabinet?
Pay attention to the landscaping. Buyers are already halfway decided yes or no by the time they walk up to the front door, based on location and look. Inside, layout is what will push them the rest of the way.
I've seen some houses listed for sale that scream "Bring your paint can when you move in!" One bedroom is blue, one is purple and the kitchen is orange. Yuk! I'm currently painting my whole house and am doing the white (called weathered white--so nice) from a dark green. I'm getting some criticism that it's too bright and too light. I think it looks awesome and just naturally decided to do all the same color. It's now clean and bright looking. I'm also doing the little things like replacing the thermostats from a beige color to white ones. Painting all doors and trim. I'm following your advice but did it before watching your video! Not putting house up for sale. Just want to make it nicer for me.
Don’t forget to add the white floors and carpets too. Something wrong people who have to live in a white house. There are many colors, soothing greens and lavender, nice gardenia or peach for living rooms, light blues for bathroom, colored on the outside to match with the surrounding environment etc. There are different color pallets and color combinations. My multicolored home is restful, soothing, and energizing. The colors match beautifully with the tan, gold granite countertops and Spanish terra-cotta tile. Everyone tells us how beautiful it is. When I sell a house. I don’t even want the white freaks coming to look. I know how to suss that kind out. When they do come over I just go inside and they go away eventually. Lol
I have been told by three realtors to not spend a dime on my house except for required maintenance. We have owned our large lot for almost 40 years. It was a great place to raise kids, have a large garden and offered privacy from neighbors. But the city recently changed the zoning code so it can be divided into six duplex lots (12 housing units). That is the value of the property, and if a young family comes along and wants to invest and use it as we did then they will probably want to update the interior as well.
Yup...you've done you research. Very cool about being able to divide into sic duplex lots. Sounds like you made some wise decisions. Congrats...and thanks for watching.
I bought my first house (yay) a couple of years ago, and given I'm in it for the foreseeable future, I'm doing the big budget things; Tin shingle roof - insulation - built ins - and I'm decorating to my tastes When it comes time to sell all I'll need to do is to get is clean, tidy, and painted neutral. Reseed some grass, clean up the window boxes, and maybe replace the formica counter for a more substential one if that. People need to realise not every buyer wants to live in those HGTV "Target lux" houses and will not pay the difference, especially if someone down the block is selling cheaper.
I have an outside wood boiler that heats the water in the the floor. Should I invest in a propane run boiler? Or, just leave it as is and the right buyer will come along? Thank you!
As someone who had to replace all the windows in my 1940 built house, I will never, ever buy another home without making sure the windows are in great working order!! Why my inspector didn’t catch the issues is a mystery and I didn’t realize how horrible they were until we were in there for a year or so. My advice to anyone buying an older home is to literally check all the windows personally before buying! Also get the pipes/ plumbing checked by a professional…we have tree root issues. I love our home because of how well it’s built - solid doors, beautiful original wood floors, great neighborhood, etc. and would buy it again, however, the seller would have been asked to fix many of the issues we are dealing with now.
Those are all very good points. If there are significant defects on the property, the seller should fix and/or credit the buyer. So sorry to hear you had so many issues the inspector didn't pick up. Glad you love your home. Appreciate your comment...its a good one.
My house was built in the 50s. It has beautiful original built in place solid wood windows with cooper runs. They work just fine and have custom made storm windows that are numbered to match each of 25 windows. The crap they make today pales in comparison to these windows. They are protected by a hip roof all around the house. I soul never replace these. In closing, not every old window is bad. 🙂
Thank you for this! Im in the process of helping my retired parents get their home ready for sale in southern CA and making some repairs and paint. You made a great point about the aged roof how we can get someone to check it out and certify its in working order! I was about to dish out 10k on the minimum to do another layer over existing roof but I will definitly get some AC and roof experts take a look first.
So glad I could help. Always a good idea to make sure "things" are in working order. I would try to get those inspections verifying that the roof/AC are working well. If not, try to get them working...saves a lot of money. You'll do great when selling. Best of luck!!
I bought house A over house B even though it was a little smaller because the previous owner had replaced the windows with energy efficient ones, the A/C was a year old, the carpet was taken up and replaced with tile and wood, the home inspector said the roof needed replacing so that was new as well. (it’s a townhome so just a square pitched roof and I paid the difference for a higher quality). It also came with kitchen appliances and a relatively new washer and dryer. They were small things by most people’s standards, but coming out of a divorce and not having a lot of money for things, it was nice to have them in house A. Lol
Hello there again Lela! I agree with you. If you have the same house, in the same location, that share similar amenities, the house with the updated windows, AC, roof etc would sell quicker especially if in the same price range. In our market in Orange County, CA there is scare housing inventory. If you're a buyer, you're lucky to get a house in fairly good condition. The purpose of this video was for sellers who want to sell in the market today in my area. I see so many home owners putting a boat load of money into their property and not getting their return on their investment. As a seller in today's market (in my area), you don't need to make those huge investments...just make sure "things" are working. I did recently purchase a condo for investment purposes. I chose a property with updated AC, windows, roof etc but needed a little cosmetic love.I didn't want to put the investment into the big ticket items. Most buyers don't think about these things in my experience. Best of luck to you on your new chapter...and congrats on your new property!!
So your absolutely correct, we do high-end kitchens here on Boca for close to 28 yrs and I tell the clients the same thing , don't drop all this money, your selling it, let's just do a beautiful face lift.I love your tip on the roof certification, I have to tell my daughter which wants to sell. BTW, I love your laugh! Oh idk why it shows Veronica as my Name, that's my wife, I'm Luis. You have a new follower too! Thank you for all the great tip and knowledge...your really a super star with this.
Some improvements don't add much value, but the owners of my apartment complex renovated the whole property and tripled the value when flipping. Guess what happened to the rent. So, the adding return on your investment thing takes high skill.
Upgrading a rental and upgrading a home to sell are two different investments. If you are selling your property, I would suggest investing as little as possible to give you the biggest return on your investment. Every area has different demands regarding their expectation of seller upgrades. My biggest concern for most sellers is they think they have to put a tremendous amount of money into a property to sell. There is a balance. When an investor upgrades his property and charges a higher rent, that may make a lot sense. The investor can write off the upgrades, depreciating his investment, while able to charge a high price. Most investors will not invest in putting a pool in the backyard, or making large property additions because they know it won't pay off in the long run. They will usually do a comprehensive study figuring out what the rent increase would be if they made the upgrades, if it makes sense and have the money, they will usually move forward. Homeownership is a bit different. Thanks for your comment...its a good one!
But as the commentator below me noted those prices you gave as estimates for a pool and the furnace were in my opinion OVER and above what the average homeowner pays for those items ~ but then perhaps this is a case of LOCATION !
I think this video is geared towards people who are looking to upgrade just to sell. If you plan on being in a house for a while, even if its not your "forever home", its better to upgrade your house to suit your needs. I upgraded my whole kitchen (completely gutted) for a good price (shopped around, got amazing deals, did a lot of diy) and I absolutely love it. When I do eventualy sell, I KNOW it will be what sells the house. Just painting the old kitchen and replacing the hardware would have been like putting lipstick on a very ugly and very disfunctional pig.
Yes I do agree. I do think if you own a home its important to maintain and upgrade it when needed. This video is really geared for people who are putting a lot of money into the house just to sell it. When you're doing that, time is of the essence...often paying over priced for parts and labor because you're on a tight timeline to get it on the market. Appreciate your thoughtful comment!!
Never do anything, except the things which are broken, and than repair or replace it with the cheapest possible. I used to live in the US and had several homes. I always hate when people redo their homes and than think they can sell it higher right afterwards. In general I hate all the styles people do to upgrade their homes. The chances that you will find people who don't like your style or the work which you put in is a waste. Keep the house clean and in a good structural condition. I am so more interested in that and do the changes which I like later. Have the price accordingly.
I agree as well. A lot also depends on the price point of the area you are selling in & the comps. In my opinion, if everything is well maintained, decluttered & freshened up, in addition to being priced well, I feel the home would compare favorably to a home that had extensive updates done that are not your style.
So what if you dislike other people's taste, they probably dislike yours (replacing with the cheapest stuff is pretty low-brow). When you replace with the cheapest garbage you can find, you wind up spending more constantly having to replace the nonsense you installed.
My intention in my post was to say, that if you need to repair something (if you need to) don't spend too much, as it will not have much of an impact on the sales price. And too often the next party might redo it all together. My basic feedback is not to do anything and have the new owner do things his way. Therefore rather have a more realistic sales price to begin with. I have not seen often, that new installations into a home which the owner intends to sell, is of high quality! And as a seller you would never get a higher sale price because of top end quality products, which would cover the expense. Again it might not even be what the next owner wants! @@spankynater4242
Some people love pools...I don't. Especially after going through so many pool inspections. I think they are a money pit and a. huge liability. That's just me...I am kinda old and grumpy about the matter.
Agreed - pools are a liability. The young children can't play outside alone, the pool has to be cleaned a lot, the back yard is dominated by it. I see in the pool shots that the pools aren't fenced - in some countries that's illegal. Not required in CA?
@@lobstermash Yes, we are required to fence in our pools (its a code). Some homeowners will photoshop the pool gates out of the photos so it looks nicer...or take it down for the property showings and photos. Some homeowners just don't put up pool gates. To each their own.
You gave really helpful and honest information! Most of this goes the same for Arizona. It's funny, but in Arizona, a lot of people pay more for new widows here because of the extreme heat and cold seasons.
great advice! I thought along these lines, when some my neighbors recently sold, and I thought man! what a waste of money on all of the last minute upgrades. no nobody cares!! (Vallejo) They want to get into a well-maintained property that they can afford. Paint! They even pay someone to come in and "stage" the interior decor. More waste! I am not there to buy your flower arrangement =- don't care. I want a fully functional, well-maintained home, that I dont have to repair for a long time. High end homes may be a different matter. and dont even get me started on ADU's you will never see a profit in your life time on those things! Show me your spreadsheet! some people are in a dream world.
You make some very good points. I would suggest you have the listing agent hire the staging. It really is important to take great photos on your property. Staging does help in my experience. I am not a big fan of large investments to sell a house. You just don't get your return on your investment. thanks for your comment.
Just a thorough, deep cleaning, paint if needed, fix broken things, and like she said, some small things that are quick, easy, and cheap, like nicer switch/outlet covers, maybe fixtures, etc. Anything else you never make back the expense. In fact, the absolute best (when possible) is putting those things in for yourself (if you need/want it) 3 to 4 years prior to selling.
You’re right about doing the new things before you sell it so you can enjoy the new. We put in a new really nice refrigerator, self standing oven stove, and white quartz counter tops over a year ago. We just bought new updated washer&dryer because we juuuust might be selling in a year. I like your advise!
My realtor showed me a hours with a pool. I asked him how much they would take off for the pool. I know how expensive they are. He thought I was making a joke.
Your video gave me a lot of good info, but what I just love, is your pretty sweater. Just beautiful. I do appreciate all what you said, it helped me a whole lot. Thank you.
Laughing, I know I know, I live in rip off city (Orange county, CA). It really can get that expensive. However, the message in the video is true for any price point: Don't over upgrade your house for the sole purpose of selling it.
for the roof , the number of years left for the shingles will make a difference , if its shot , youll either pay for it when your the owner or at closing possibly , a good coat of ceiling paint over popcorn ceilings is much cheaper and nearly no mess than having them scrapped then painted . good video , I agree with her suggestions , besides the popcorn ceilings
Kitchen and bathrooms updating are historically the best return on investment averaging above 80% sometimes 90% for new counters, flooring, cupboards, and the cost may only be 30-40K, not 150-200 stated in the video!
Really depends on where you live and what the market is doing. In the last three years, you could literally do nothing a sell for top dollar. Also, the mistake I see sellers make is that they upgrade the property to their tastes, not keeping in mind what the buyer may like. If the kitchen and bathrooms are in reasonable shape..I say work with what you have. If you are redoing bathroom and kitchen for the sole purpose of selling, I would say stick to a budget. I live in Orange County, CA...its outrageously expensive here. I am encouraged to hear there are more reasonable places to live. Appreciate your feedback.
At my old place, I updated the bathroom by having the bathtub and bath tile re-glazed in white, replaced the toilet, replaced the sink and vanity, replaced the vent, replaced the door, and put down vinyl plank flooring. It cost me around $1,200 in total, most of which was for the tile & tub reglazing. It came out great!
The proxy realtor who sold our house 15 years ago did not try to sell our place until we gave in & replaced all the carpets. The first thing the buyers did when they arrived was rip all the carpet out because they wanted to extend the hardwood we had right through the whole place. On the handover day, a floor crew turned up & put hardwood right through before a stick if furniture went in...
Ugh..that does happen. However, if your carpet was really bad, it was probably worth it because your house sold (hopefully for top dollar). Congrats, by the way!
People have no imagination usually. Ive had listings that don’t sell until the owners do some upgrades. Then the buyers come in and rip everything out.
People may be choosing looks over durability .... they will regret it years later when they are dealing with a leaky roof, drafty windows, sub par furnaces / replacing a/c. I am more interested in the expensive items that you can't see... so your advice is probably true, but, I"m hoping buyers are smart enough to see value in the unseen items that are actually more valuable than the paint on the walls.
I would totally agree with you! You would be surprised how many people care more about how a property looks than the major ticket items. Having the property well maintained throughout the years and having the property present well is ideal for a successful sale. In my experience, the younger generation doesn't look that closely into the maintenance of the property. They just want a home...they feel they can fix whatever comes up...Its so hard to find an affordable home. Sometimes buyers will buy anything just to get in the market. I have heard horror stories. Thanks for watching!
Agreed. Very silly. I am an engineer. When we make missiles they have a build book that covers all the hardware configuration for the item sold. We have a build book for our house. Dates and receipts for all major systems replaced. The roof was replaced last year. The HVAC completely redone also. All covered. I want the new buyer to at least think about those things when they look at of course we are rather extreme with maintenance. I actually have a plumber come every four years to do a camera inspection of our sewer line to the street. This ensures no root intrusion etc.
When we sold our last house I removed everything from the walls, filled all holes/dings and repainted the entire interior. I also cleaned and repainted the garage floor. I replaced the carpet, but only on the entry stairs and the primary hall. I also replaced a toilet because the lid had gotten broken and I had simply built a fiberglass replacement lid that looked fine, but was obviously not original. In addition I replaced the glass in one window where a seal had failed in the triple glazed window, not cheap but it made a big difference in appearance.
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I’m still updating some of my doors - to show my house is not outdated - also garage, and walkway and painting exterior. This is not a must but I’m looking to maximize value. Also looking to update cabinet handles
I have a question, Audra, should older wood floors be re-finished? My living room and dining room carpets are pastel green but they are very nice. Should they be replaced with a neutral color? Your suggestions would be appreciated!
Hi Eleanor, Unless your wood floors are looking really shabby, I would not re-finish. Often times, refinishing hard wood floors costs almost as much as replacement. Your buyer may want to refinish the hardwood themselves and stain a different color...or they may just want to replace the floors (I know hard to imagine but I see it often enough). I would hate to see you throw money at something that you won't get back. Regarding the pastel green carpet, I would recommend my own clients to change it out. I am sure your home is lovely...its just pastel green carpet isn't what's trending right now. It will actually date your home. If you don't want to go to the expense of replacing the carpet because its in great shape, then just focus on making everything clean and orderly. Buyers like a house that is well maintained.
Refinishing is inexpensive; shop around and find a guy who does nothing else. Nowhere near the cost of new floors. You can even DIY - just rent a sander, vacuum up the dust, put down polyurethane. Very easy. Looks beautiful afterward.
7:15 okay, I have popcorn ceilings, I despise popcorn ceilings. But when I was looking into how to remove them. Houses built in the early 70’s sometimes have asbestos in their popcorn ceilings. I am not going to DIY that. I don’t want to have them tested because if they are that would require a hazmat removal. And I can’t afford to do that. So I am wanting to do some of the decorative ceiling tiles over it.
@@TheCatsOnMyLap you can test a small patch to see if asbestos. If so, you can get smooth ceilings with drywall installation over them. Then paint and seal.
If you're in an 'area' where a pool costs $200,000....MOVE! Then put a pool at the new house where the neighbors don't think they're quite so important.
Well, you have a point. However, you must not live in California or are familiar with the requirements to build a pool out here. We have these new enhanced guidelines where the pool has to be dug something like twice the depth as other states and reinforced with twice the amount of concrete and structural support due to the earthquake fault lines, expansive soils, and recent pools falling of the hillsides. I won't comment on neighbors thinking there so important because they have to spend $200k on a pool...no idea if that is there intentions. However, the expense of increased code regulations and requirements that are contributing to the expense of pool installation is prohibiting many homeowners to move forward with pool installation.
Have you priced poured concrete pools lately? Not a preformed one or a liner that is just plunked down in your backyard with no after thought, but a custom designed pool with landscaping that fits your house and yard? I live in North Louisiana and we are no where near CA standards for pools, but I know it will run you anywhere from 75k up.
@@Lela-plants Hi Lela, thanks for watching! I don't know about North Louisiana, but here EVERYTHING is expensive. It seems like everything has gone up by a factor of 2x or even 3x...and you can't get anyone to do the work. We are living in a different era!
A swimming pool is nothing but a full time job “babysitting a body of water”. Very poor investment if you ask me. That would be the reason I “wouldn’t” buy a house.
I live in a famously dry sunbelt city, where there are a lot of pools, but a lot of buyers don't even want pools and, in fact, won't buy a house that has one (I'm one of them). Too many kids (or grandkids visiting) end up dying in them, and pools require A LOT of upkeep, high water bills, and extra maintenance expense that must be factored in to to the buyer's monthly budget. And besides, how many months of the year is a pool really used anyway? To pools, I say BAH HUMBUG!
When I bought my house, the colour inside was all one dull greyish yellow colour. It was neutral alright, but I disliked it. All except the kitchen which was in pretty robin's egg blue and lemon yellow, which I like, and kept. I've since decorated to my taste, in gold, dark red, and sky blue, and I've wallpapered for the first time, and love the result. I did think it would improve the value of the house, but now I realize otherwise. Few people, especially up here in the country, share my Victorian taste. Oh well. I plan to use my new skill in my next house as well, and what I really want is a run down 100 year old house to rescue and restore.
Yes, I live in "rip off city." I had one client spent $100k just in cabinets....then you add appliances and custom hoods, knobs, backsplash, and sooth sliding systems..its ridiculous! Honestly, IKEA has some great kitchen cabinet options. Thanks for watching:)
Dude ours is coming out to 100 k - SoCal rep here though. Most of the money (to be fair) is going to opening up the space and removing a load bearing wall, new electrical panel, and adding an island. These integrated cupboards are soo expensive though. We are refacing doors and adding a few new cupboards…but I could easily see how it gets to 150 k
@@Caliabra Yup...and if you put in high end appliances...$$$$. We do live in So Cal...its outrageous to live here. Doing any remodeling is expensive. Best of luck with your remodel.
I want to know all the bones are good and upto date in a home purchase ...windows roof furnace air electrical big ticket items. And clean is a no braiser to me. Also having all the documentation on said "bones " is a must for me. Good video and solid good advice. Thank you.
INVESTMENT, INVESTMENT, INVESTMENT, blau, blau, blau. None of these things MS Real Estate is talking about are 'investments'. They are all expenditures. If you are doing them for you, understand that. If you're attempting to get more for your house, don't.
Hi Stephen, MS Real Estate here...I think we are saying the same thing. A well maintained property will consistently sell for a higher price than one that is neglected or has deferred maintenance. I think the main take away from my video is "maintain your property" and don't make those large investments if you're trying to get a higher Return on your investment. If you were to sell your house, the IRS allows a $250,000 capital gains deduction for filing single and a $500,000 capital gains deduction if you file jointly. The IRS will require documentation of the "investments" you have made into the property...not expenditures to calculate the base value of a property. Gardening services, electrical repairs, and any maintenance and/or any other service expenditures are not deducted off the base of the capital gains calculation. HOWEVER, property improvements/investments are. There is a big distinction. I was using my terminology carefully. Apologize if there was confusion. Appreciate you watching my videos:)
Yes, I know. I live in rip off city. However, the message of this video is true for any price point: Don't over upgrade your property for the sole purpose of selling.
I know that times change and I was house shopping 20 years ago. We looked at a couple of houses that had been recently painted, papered, etc. I crossed them off the list because I couldn't stand they style and I would feel that I have to keep it for awhile. My biggest recommendation I would make is a deep clean of everything. We did scrape off the texture of our ceilings, for us. Also staging is often worth the money.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Comparing a real estate agent's opinion on buying a home to asking an alcoholic about drinking is quite humorous. The housing market in my neighborhood has seen a significant increase in prices, with homes that were sold for $450k in 2019 now going for $800k to $950k. Sellers are making impressive profits of $350k. It's truly unbelievable. While deflation may be necessary, bankruptcy for many would harm the economy. Finding a balance is key to returning to normalcy.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@@williamDonaldson432 Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
200K for a pool, 100K for a new kitchen, clearly I am in the wrong neighborhood here. I paid less than 200k for my entire house.
These are definitely higher end prices. Anyone that would pay 200 grand for a pool is getting totally ripped off. Yikes!
I live in the DFW area, and new pools start at $75,000. Homes with pools sell the quickest, usually with multiple offers.
My pool cost 200...got it at walmart.
She’s in the OC, it’s very expensive there.
I’m in a remote part of Canada and replaced my kitchen and did a bunch of other work at the same time and it was $35K all in. New vinyl plank, new cabinets, quartz counters, under cabinet lighting.
I did a lot of it myself (I am a tradesperson), but still…
$100K for a kitchen, in the US?
Talk about consumerism.
No pool
Don’t gut the kitchen, update kitchen paint, new knobs, faucets,
Don’t gut the bathroom, lighting, faucet, paint
No additions to the property like a master suite
No replacing the doors
Don’t replace the roof, get it certified as ok, patch as necessary
Don’t replace windows unless broken or leaking
Make sure furnace works or replace with refurbished, not new
AC HVAC specialist inspection, clean bill of health, refurbished or repaired
Remove the popcorn ceiling
Paint color of the year, creamy soft white, very neutral
Clean the windows
Yup...you're hired!!
I put a deck on my house this summer. Does that help? Shenandoah Valley, Va.
@@janfran16 Upgrading your home over the years, is not a bad idea. However, if your intentions are to put your house on the market to sell so you put a deck on the house, I just have some concerns about getting your money back. Maybe you have a great view that would help sell the property if it had a deck. Every house is different and every location is different. IF you plan on living their for awhile, the upgrades usually average down over the years. I do love decks:)
@@AudraLambert Thanks for your reply, I did not do for resale, however, it is off the kitchen and so handy. Looks are much better from the back of the house too. My pup and I enjoy. Houses here in this area are doing very well, as we are not that far from the DC area, just over the mountain to the east.
We did gut our kitchen and master bath. They were way beyond fixing up and small updates. God awful and bringing the value down. I realize we may not get all the money back but in the process we will attract more buyers willing to have a turn key home.
As a California Professional Civil Engineer that grew up with a General Contractor dad I agree with most of this. I would not change windows but for little cost upgrading the screens looks great. I have also noticed that up grading the front door has positive impact on buyers. The front door the first thing they see when going into the house.
Hi Craig, great feedback. Appreciate your comment..its a good one.
We're putting our house up for sale this summer. The windows are my only concern. They always look dirty - between the panes. It's very noticeable. A few years ago, we had a disagreement on which upgrade we wanted to do. He wanted new windows. I wanted solid wood floors throughout. I won, but it sure makes me wonder how this will affect the sale of our house.
That's what they told us in real estate school - if the front of the house looks crappy and you don't have a lot of cash to fix it up: paint the front door!
@@L.Fontein7 Not a bad idea...thanks for sharing.
Agree. Changed the front door color, which I'd never liked anyhow (entered the house via the garage most of the time). House sold the first day, multiple offers.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short-time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all at this time!
That's awesome! Diversifying your 350K portfolio with the help of an investment coach has really paid off. Making over $730k in net profit from high dividend yield stocks, ETFs, and bonds is quite impressive. Your investment strategy seems to be working wonders for you!
I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Clean your windows is huge, yes. Clean those window sills too. Wipe down literally everything, your trim, srub your walls, your bathroom, you get the picture. On the outside any porch should be spotless, and wipe down the siding even around the entryways. All these free things to do will make your home feel clean and inviting to people. They see a home that looks taken care of and it leaves a good impression with people. Im really big on cleaning now after selling my last place the exact same time as one of my neighbors. They had the same floor plan, everything, except theirs was remodeled inside with a brand new kitchen and baths, mine was all original from the 90s. I went to their open house though and their house felt dirty, mud on the side of their balcony, dirty window sills. Mine sold for $20k more than theirs despite them having a complete remodel. Cleaning is so important.
Housing prices likely won’t drop significantly until supply increases. The U.S. is short millions of housing units and isn’t building fast enough. Demand remains high, and even a small dip in prices attracts many buyers. I’m looking to buy affordable houses in 2024 and maybe invest in stocks. When’s the best time to invest in stocks? Some say it’s profitable, but others warn it’s risky. Any advice?
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Having an investment advisor is the best way to go about the stock market right now. I used to depend on TH-cam videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Could you recommend your advisor? I'd appreciate some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sharon Marissa Wolfe ” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
No matter what you do to your kitchen, the buyer is probably going to cut and redo it anyway because everyone's taste and desires are different. Clean it up, paint, and fix anything broken so it looks like you've taken care of your property -- that's what sells your house.
Couldn't agree more. Thanks for your comment!
Looks like it, we take care of things before they become a bigger problem.
@@janfran16 Very smart!
you mean dumping 50K into renovations just to get 50K more for the home, breaking even and wasting time is not worth it??? This - "Clean it up, paint, and fix anything broken"
@@mg1822 Agree with that!!
I would add this advice, based on experience. Make sure the yard is crisp. Some quick, inexpensive self-done landscaping will go miles. I would suggest new mulch, new edgings, and weeding everywhere possible. And touch-up the main entrance door. These are the first and main things people see, subconsciously.
Great advice. So funny you mentioned that! I am literally posting a video tomorrow on exactly those things. Great minds thing alike.
First impressions and curb appeal! Trim those hedges and put out nice pine straw (in the south)
@onehitpick9758 Yes! We had moved out of state and had a guy "taking care" of the yard since we were so far away while the house is on the market. We decided we needed to come back and do a well-check on the property. it turns out the guy had only been mowing- no weeding, no edging, the mulch was faded and scattered. I almost cried when I pulled up to the house and saw the front of the house. We spent two weeks doing touch ups, pressure washing, cleaning windows, weeding, refreshing the mulch, etc. It was like a brand new yard. This is such an important point.
I don't know how this comment ended up here, I commented on an entirely different video! Weird.
@@georgiawild4332 That happens to me too sometimes. Wierd!
Most of the updates you make, the next owners will tear out. Leave it alone.
I agree!!
Except for a new roof. Locally if your asphalt shingle roof is 10 years old the new buyer can't get insurance for it. No insurance means no mortgage. No mortgage means no sell except to investors.
This is my second home and I have to say refacing cabinets, replacing rugs, replacing sinks and
replacing faucets, painting neutral colors and minor landscaping does the trick.
I agree!!! Gives the house a minor face lift:)
Part of me misses the 60s and 70s colors. But I admit the monochrome neutral color schemes are easier on the eyes.
Refacing cabinets is very expensive. For my tiny kitchen, it's upward of $7,000. I can't see paying tens of thousands to reface the cabinets in a large kitchen just to have the next owner tear it all out.
$150 to $200k for a kitchen remodel? Who’s doing it King Tut?
LOL...I hear ya! I swear to budda that my neighbor just installed a $35k refrigerator (and they did their own install). Buyers in my area expect high end cabinets and appliances...its outrageous!
No kidding. I stopped watching after a couple of those outrageous “estimates”.
Really depends where you are. My friend lives in Vegas in a very similar house to mine in San Diego. We have had similar work done these past few years. His contractors charge a fraction of what mine do, and I do a lot of research.
@@Rixdog01
It can also vary by neighborhood. Literally.
My last house was in a $500,000 suburban tract. My current house is in a $1M suburban mini tract consisting of 17 semi custom places. Actually, very similar construction.
The "contractors" (everyone calls them that even though many are not professional and not licensed) want twice as much for the same work in the $1M neighborhood. i.e. $20,000 to paint the exterior!
They smell money as soon as they come into the neighborhood.
I'm pretty sure you are right.@@tharais
Oh geez, she’s in Orange County CA. No wonder those improvement prices she’s quoting are so insane.
Yes, I am...and I agree with you. Its refreshing to hear others talk about the high costs out here. You're right!!
Keep your house clean and tidy at all times. Fix and patch nail holes, keep paint fresh and clean on the walls. Keep your furniture looking clean and modern. Live every day in your house as if you're about to sell it. When it finally comes time to sell you will be ready and not panicking at the last minute.
That's what I try to do;). Thanks so much for your comment.
Paint and carpet are the two things I always talk to my clients about. In today's market with so many brand spanking new homes available, your dark red dining room or your kid's Barbie pink bedroom can actually be the difference between a buyer choosing your house or the one down the street that has been painted in all neutrals. The other thing buyers don't usually want to deal with is dirty/ugly carpet, so if it is stained beyond steam cleaning, bright red, etc., I will suggest a flooring change. Often times people can save a ton of money by replacing the carpet with high quality peel and stick vinyl products like Floor Pops or a wood look LVP because they are super DIY friendly. In a lot of markets they are also much more popular with buyers than carpet. A knowledgeable realtor or home stager is your best friend when deciding where to spend money because their job is to know your local market, and they often have creative money saving ideas to help you present your home at its best.
100% in agreement!! You're a great agent.
Thanks! but I'm not an agent, I'm a home staging consultant and real estate photographer. My husband is a handyman. A lot of our business is working with people to prep their homes for sale.@@AudraLambert
Doesn’t matter here in smokies of NC and TN. Houses selling (still) in days for cash only because they won’t get a loan. Craziest market I’ve ever seen. Multiple bids and lines and not enough. 250k for crap 1980 double wide with less than an acre, for example.
In fact, the worst it is, the higher the price, the more they want it! That’s all those Florida folks who came here and still
Coming to save us all
From ourselves and being their ways and problems with them.
@@cumberlandquiltchic1 I hear you...the market feels like its broken. I still can't figure out how people are affording these prices. You're right about the all cash offers.
Its also fine to remodel a house, live in it for 15 years, then sell it when everything still looks basically new, but before stuff starts to wear out again. 15 year old remodel is almost the same as new in the eyes of most retail buyers. If It looks good, then its good.
Yup...agreed. I am just trying to warn home sellers not to invest too much money into their improvements for the sole purpose of selling. They may not get a good return on their investment.
Yes, especially if you go with classic styles and good quality materials when remodeling, instead of foolishly going for trendy looks. Trends quickly come and go, classic style is always "in" and good materials last a long time and wear well. Same goes with personal style, clothes and accessories.
As a Carpenter, I would say that I largely agree with what she is saying. A paint job and some new handles and working heating and cooling goes a long way!
Then if you are going to build a new home later, the three most important things to consider are....
Location, location, location!
Thank you this is making me rethink some projects. We are not moving but I like to upkeep my home as if we were. I was going to replace 3 doors (tiny condo) and the cost is slightly over $2000 which is a lot of money for us. I’m just going to invest in fresh hardware knobs and hinges and get those windows cleaned. Great tips. ❤
I think that sounds very wise. Best of luck to you and thanks for watching!
Why not go to Home Depot, Loew's, etc. & just buy replacement doors & install them on existing frames?
It's pretty easy & they shouldn't cost more than $50. apiece, plus new locks & hinges!
@@rongendron8705 Home Depot Hollow Composite Door goes for $66.46 x 11 doors needed in a standard 4 bedroom house = $731.06 not including sales tax plus having a truck to get them home. Plus you still have to buy the hinges and locks. You are still talking close to $1000. Framed doors run more at $146 per door and you have to install them and make sure they are hung correctly. New hardware is the simplest and easiest way to go.
@@rongendron8705 I did look into that option already thank you 😊
I hope I caught you in time, but if you can, just replace the knobs. I replaced hinges, and some of the doors never quite lined up right.
Great video. Furnaces: As someone who spent most of their working life in property management and maintenance I'd say: be careful about "High Efficacy" types. In general they are much higher maintenance, have a shorter life span, require more frequent inspections, and other drawbacks. Almost all the HVAC guys I worked with had low opinions of them. Look for a high quality medium efficiency unit.
HVAC guy here. The only high efficiency system that is going to be a practical investment for most people is a water furnace geothermal unit. High up front cost for a dramatic reduction in energy use and if installed well, needs almost zero maintenance and will last 30 years. Modern basic efficiency equipment is lucky to have 15 years squeezed out of it.
@@geocam2 because hvac techs get paid alot or there is a shortage since everyone is told to go to college to have a good career? sure work in a cubicle and hope you get 2% raise and not get downsized
@@millenialmemoirs and don't be a white male either if you want to move up at a corporation these days.
Good techs in urban areas get paid very well because they are highly skilled and in demand. With all of the technology packed into modern hvac equipment, many of the top performing techs have expertise that rivals mechanical engineers/electrical engineers coming out of school, and there aren’t very many people who have the talent, intelligence, and desire to do what is often very dirty and technical hvac tech work. I would disagree in saying that HVAC companies have a “catbird seat“ many are struggling with staying profitable, struggling to recruit and retain good labor while simultaneously keeping their customers. it’s just basic supply/demand that technicians happen to be paid especially well right now which translates into higher costs for the service companies, and higher prices for the consumers.
Thanks so much for your feedback. Great points.
I sold an apartment in Rochester and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
“ Melissa Terri Swayne is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
I just saw this in my feed. We have our house on the market right now and EVERYTHING you said to do and not to do, is what we did and didn't do. I questioned some of it as we were doing it, but now feel a lot better about the choices we made. We also did landscape and that sure upgraded the curb appeal. Our relator and the ones that came to the open house could not believe how new the house looks. It put us in the high end of the market for the area. OH I almost forgot, we had most of our ceilings with pickled white lap and gap and one of the changes we made, we did add the lap and gap to a couple of rooms that didn't have it. Now the whole house has it in them including the baths , closet and pantry. Thanks and great advice, people should take it!!
I am so thrilled to hear everything worked out well for you. Great job!! I really appreciate your comment. I am sure the lap and gap really elevated those rooms. Best of luck!!
What is a "lap and gap" ceiling? I've not heard that term before.
So glad you’re getting great feedback! You’ll do great! Thanks for the comment!
@@oltedders Laughing...Its shiplap. Are you familiar with that? If not, just google it. To be honest, I have never heard anyone call it "lap and cap"...I had to look it up too. It does look very nice on the walls/ceilings:)
@AudraLambert
I thought maybe it was shiplap. Chip & Joanna Gaines did that look until it became just another corny solution in their predictable arsenal of fixes. It's a great look for ceilings, but it has to have a seamless transition where it meets the wall. Otherwise, it looks tacky. The roof has to be in tip-top condition also as a leak can ruin the entire ceiling if you've opted for natural wood. Large expanses demand beams, of course. I'm dubious about putting it on the ceiling of a smaller room unless you're going for a theme effect.
Thanks for filling me in on that. I'm glad your video came up in my feed...good advice.
Thank you, most of what you said I agree with. I live in a unique part of the country where the first 2 minutes of the video doesn't apply here. I did a complete kitchen remod in 2020. We went back to the framing and had to add additional walls due to this house is full masonry and had no electric outlets or even a light switch in the kitchen. $8000 later we have a completely new kitchen, 26 cabinets and 52 square feet of custom counter tops plus much more. Thanks for the information.
Thumbs up on the video. I’ve been shopping for a house for a long time, but they all are crappy. Everything is dated, but has a fresh paint, roof is patchy, Water Heater, and HVAC on the last leg and on and on. It appears that they’ve been watching this video.
Lol..yup. There's always new build to buy.
Thanks for sharing! I think several home sellers are getting a bit ambitious with their price as it relates to the condition of their home. In the last 3 years, home sellers have been in the drivers seat because there has been a scarcity of inventory. In the past, sellers haven't been required to do much to sell their home...well, in my experience, this is changing. Thanks for your comment.
I disagree about the roof, in Florida. Before the sale, there will be a wind mitigation inspection. If the roof has just been dolled up, it won't get a good grade on the inspection and your insurance will be higher. Insurance companies won't even cover your home if the roof is too old.
Thank you! I would much rather come in and buy a kitchen that is in good working order than they kitchen that the sellers "thought" I wanted. Just because it has expensive granite counter tops doesn't mean they are pretty to the buyer. So many choices in all finishes out there, let the buyer choose their own.
I totally agree! But I would just makes sure everything works properly. Appreciate your comment!! And Thanks for watching!!
When I was spending every weekend and spare minute looking at possible new home for us back during the great recession, I was saddened by how much high end work that many sellers had paid to have done and their realtors bragged about it. But, it made no difference to me. I didn't care for it and knew I'd just have to redo it to my standards and tastes if I bought the place.
But that applies to any counter top, or backsplash, or whatever. Not everybody is going to like everything, so install what you like, and let the new owner figure it out when it's their turn.
@@spankynater4242 Good point!
I detest granite tops. Not only are they totally ugly and look like they're always dirty but they give off radiation because they are a nature element.
We are working closely with a really great knowledgeable realtor who is keeping us on target to fix our place to sell. Not our first time to sell a home either…
Good for you!! And best of luck!!
Audra, you are 100% correct. I sold RE on Miami Beach for 10 years. Your advice is tried and true. Here in Florida new roofs are demanded by homeowner insurers even if the current roof is in perfect condition. They time you out! Yikes! I found many buyers dont want a pool, also they want a real garage not an enclosed one. I watched your other videos abt not selling your home, correct again. You bought that house with "old" dollars, after all the expenses and costs to move, purchase a new home, closing costs eic you are lucky to break even. BTW the taxes insurance, etc are going to greatly increase with the new inflated price. Can buyers handle the new bills? Great advice all around. Thanks for your honesty.❤️
Thanks you soooo much for your comment. Really appreciate it. I am putting a new video out tomorrow about what to look for when buying or selling a home. I specifically talk about homeowners in Florida because I received so much feedback from them regarding their roofs and windows. Our insurance costs here in California is outrageous. Sounds like you have a similar issues. I really don't know how people are doing it...especially first time home owners. Appreciate your support.
I don't under a real garage vs an enclosed one. Can you describe what each one is, please? Here, an enclosed garage is a normal garage and one that is not enclosed is called a car port.
@@melissaroth4467 Hi Melissa, yes you are correct. An enclosed garage can and can not be attached to the house but its completely covered. A garage that is not enclosed can and cannot be attached to a property but has more of a covering (not enclosed)...its open. Hope that helps. Thanks for watching.
Great advice. I friend made some costly upgrades to her home to sell it and the buyers ripped it all out!
Thank you
Exactly...I have heard a lot of these stories. Thanks for sharing)
@@AudraLambert I subscribed to your channel and advised my niece to do the same. She owns several properties and your advice will be of interest to you. Thanks you.
We live in North Carolina. My daughter just sold their house 7 months ago. They had an in-ground pool. She listed it on a Friday and had 16 showings over that first weekend, with 4 sellers immediately putting in offers. A bidding war started and she ended up selling for $5000 over asking plus another $5000 in appliance allowances. So it sold that first weekend! So a pool can definitely be a good investment if your family enjoys using it. We all sure did for many years, and both grandchildren learned to swim in it. But I agree with the no to remodeling, as that can be a matter of taste and you can’t predict someone else’s preferences on design.
I agree with you 100%. My only suggestion is not to put a pool in for the only purpose of selling a home. People who love pools...LOVE THEM and will pay a premium for them. However, the cost of installing a pool for the only purpose of fetching a higher price on the resale market is risky. Thanks for commenting.
Insurance go up with a pool
You didn’t mention that it was because of the pool that she had offers. And how long ago was the pool installed? She didn’t say that a pool would be a deterrent or a positive for buyers although it may be for some. It was the fact that installing a pool would not pay for itself.
@@richjennings3601 sure does!! Not a big fan of pools.
A pool depends upon where you live. I live in Wisconsin and in my last house had an out door unground pool. I kept it up but closing and opening was a pain every year, but was able to sell the house and the pool was not a problem. I built a new house and had the home designed with an inground pool installed in the house (requires appropriate engineering and design). Have not yet sold the house, but it will be the desire of the buyer. A realtor told me that most people will not want a pool, although an indoor pool will be more advantageous than an outdoor one, but if someone is looking for a home with an indoor pool the number of homes with one will be much fewer. I love the indoor pool. Much less maintenance than the outdoor one, and with year round use. Also, an outdoor above ground pool should be removed before considering the sale of your home.
I appreciate that you keep it real real.
I WOULD update exterior doors and get doors that don't have side lights! In this day, security is top in people's minds! Also, if you decide to keep the doors, check the screws used on the hinges! you most likely will find very small short screws that will NOT hold if someone decides to break in. Purchase much longer screws and screw them deep into the door jams and studs behind it. That is a good investment of time. Also, install a deadbolt on every door. You and your family will feel safer and a new buyer will see that he doesn't have to invest in one shortly after buying the home, although you should change the locks in case others have keys to the property.
Hello there! You offer good advice. If you are selling your house, however, I am not sure I would go to all that trouble. If you own your house or are buying a house it's a good idea to secure the property securely. For homeowners who are selling, there is so much to do and "things" are so expensive, putting dead bolts on every door and replacing door screws with longer screws may be down lower on the lists. Most buyers won't ask if there are deadbolts and longer screws on the doors. In fact, I have never been asked that. However, now that you mention it, I just. may make the investment into my own property. Very good idea...thanks for bringing it to my attention.
Great info! We are selling our one-story single family house built in 1960s and purchased 15 years ago for $85k. Already replaced the roof two years ago due to what insurance referred to as granular loss. Was ready to gut the kitchen and guest bathroom before I watched this. Subbed!
2023 Boulder, Colorado here. Just got estimates to get rid of ONE popcorn ceiling (the kitchen’s). Bids came in, low = $4k, high = $8k!!! Can’t see how there could possibly ever be return on investment!
Really depends on the area and how strong buyer demand is in your area. Boulder, CO from my understanding has a lot people moving to the area. Popcorn ceilings do date the house...but if you're the only one in the neighborhood a buyer might not care..and/or ask for a credit. I would get the popcorn ceilings tested for asbestos...that could create a major health risk. Appreciate your comment.
@@AudraLambert Very hot real estate area for years. 1980’s home. Tested everything and its brother, including all popcorn, for asbestos - all clear. Only worry was radon, for which we mitigated.
Get rid of it yourself.
@@spankynater4242 If you can:)
I’d consider drywalling over it assuming it isn’t too thick as some spray on were.
Great video! You have completely backed up what I continue to say. We own a historical home built in 1869. The previous owners gutted it and tried to keep its integrity in 1970. I did have to get rid of the pink countertops in the kitchen, but I am trying my best to only do what is necessary. Thank you
Thank you for the compliment. You'll do great! Historical homes have a lot of charm. I would just focus on making sure "things" work. Best of luck to you!!
Great content! We bought our home in early Feb 2020, but didn't move in until mid March 2020 - right before COVID -19. In retrospect, we should have had the popcorn ceilings and entire house painted during that time. We just weren't thinking straight and missed a HUGE opportunity to do it without all of our stuff in the house. Total bummer as we still have all the popcorn and some rooms with wacky paint jobs left by previous home owners....
If you do choose to remove the popcorn ceilings, please make sure that you have a Certified Asbestos Consultant test the ceiling for asbestos, and if it contains asbestos (most acoustic ceiling spray does), have a licensed asbestos removal contractor legally and properly remove and dispose of it. Asbestos is no joke, and asbestos related diseases take many years to show up, but they are usually fatal.
Yes, I know what a mess that can be. I had my ceiling scraped several years ago...and WHAT A MESS!! I would check to see if your popcorn ceiling have asbestos. Its quite the hazard. Thanks for watching!!
I did the same thing, Moved my things in than painted, what a pain.
@@bser3973 Its super messy. I will never do that again:)
I have popcorn ceilings & they never bothered me. We put the house up for sale & had 3 offers. Didn’t seem to bother them either.
For me, I like putting in new door levers, new door hinges (if they have been painted), new modern looking outlets and switches, new cabinet knobs/pulls, new faucets, and a new exterior front door lever (and paint the front door).
This is a good advice for a newer or recently updated home. You can't make a 30 years old carpet or 50 years old bathroom look compelling. Most people want to move in and live, those who want to remodel on their own are looking for steep discounts.
Also, if making repairs doesn't pay off, how do the flippers make their money?
Flippers usually use low quality products, or they themselves are General Contractors and can do the work relatively inexpensively. However, they are fixing the property up quickly so they don't loose a lot of money. Some of the flippers skimp on the finish product. I hear ya about older homes. I love older homes! Sometimes older bathrooms and kitchens are charming. However, if it really worn out, it may make sense to remodel...just don't install top of the line..stick to a budget. Thanks for your comment.
Flippers hide a lot of issues and often stick unsuspecting buyers. They also buy below market. Im inundated with calls every week asking if I want to sell. I handled foreclosures after the crash. I had one investor that always sent me offers 40% below asking. I had to present everything so it was a lot of work and we always had multiple offers. I finally called him one day and asked if he actually ever got the contract. He said he puts in over 100 contracts a month and was closing two to three a month. It was an ascending market after 2012 so he couldn’t lose.
Back to flippers I would never ever buy one.
I agree with you except roof and furnace because how old your roof and furnace (or HVAC in general) makes a difference. Whenever I find houses for my clients, I factor them into offers and we always negotiate the final price based on the age of roof and HVAC.
Totally got the investment + back on last house. Full kitchen , main floor floors, master bath and repainted rest of house. Roof had been updated 10 years before, newer furnace and AC and water heater. Use high end fixtures and plumbing fixtures in specific areas. As a home owner who has bought and sold I look for the nicer updates. Your recommendation is why husbands fight their wives on renovating their homes. You actually make it harder on the people trying to improve the home.
Hello There...I am not against renovating a home or improving it. I am just saying don't put a ton of money into a home just to sell it. There are so many homeowners who are investing in huge projects for the only purpose of selling a home. I am a huge advocate for maintaining and updating a home...I just wouldn't do it all at once in efforts to sell your home. Overtime, your upgrades will average down cost wise...but if you put it all in at once and sell shortly thereafter, you may not get the return on your investment that you expected. By the way, if I am buying a house, i will be looking for those nicer upgrades too. Great job on improving. your home. Thanks for watching.
We agree whole heartedly with you. Improving your home as long as you own it and keeping up with repairs is huge in keeping your investment. Doing short cuts or as I like to call it “Turd polish” is just a shotty way to do business. And as a buyer we look at these things closely…
You don’t mention how long you owned the property?
@@Dbb27 we have owned our house 12+ yrs. Selling soon.
@@RedheadedMusic then you have enjoyed tremendous appreciation. The norm is 6% per year countrywide, location being an obvious influence. I would guess your improvements were done early on to enjoy during your twelve years. Not during the last year you owned the property. You could have done nothing and still made a profit due to the rise in property values. Remodeling definitely will increase the value and make a faster sale but dumping money in for the sale in the last year doesn’t make an equal return.
We need to paint, remove popcorn (asbestos?), replace bathroom floor and front porch stairs, which we plan doing this year or next. We don't plan on doing anything more. We have a roof with 30 more years (of 50), new AC, furnace and HW tank, newer appliances. My hubby didn't want to do the popcorn, so I'm glad you mentioned that.
Sold my last house 15 years ago. I had to replace all 26 of my windows because they had all fogged over inside the double panes. I also painted the exterior and painted the textured ceiling (ugh!) in the hallway. I did completely tear out and rebuild the kitchen 6 years prior and the realtor told me it was absolutely what sold the house. It was beautiful and very functional. I also at the time put in a Jacuzzi-type corner tub in the master bath to replace a standard tub/shower and replaced the tiled shower there that was beginning to fall apart. I got a good price right before the Great Recession happened.
Good for you!! Today, upgrading a property is so expensive and finding reasonable labor is challenging. I just sold a property that had "foggy" windows. We got a quote on replacement and split the cost. Since inventories are much lower now, buyer and sellers are more willing to work together.
I did a Jacuzzi tub replace and I don’t regret that either
@@vvalasek I had looked forward to using the new tub, but in 6 years I used it only once; I didn't have the time to relax there and it wasn't relaxing as it was physically uncomfortable to sit there very long. Very disappointing.
Double paned windows, don’t get me started on what a scam the windows industry has created. We’ve now all replaced our single paned lifetime windows with temporary windows that constantly need replacing for thousands of dollars apiece. I’m willing to put up with an occasional light fogging because carting all the windows in the country to a landfill every 15 to 20 years is insane.
Good solid information. Thank you. Wow. Smart, experienced professional. I like this advice.
Ahhh...thanks! Glad you got some value out of my video. Thanks for watching.
We live out in the country, not in a neighborhood… Our Kitchen was really bad, painting would not have worked and countertops were broken old tiles. We are fixer uppers and handy people…It was built in 1980….We have totally demolished and rebuilt our kitchen and spent no where near $100,000 to do this… more like under $20,000 and we put in custom cabinets and countertops, we did the cabinet install ourselves, new lighting, replaced a couple of single pane windows and new flooring, new gas stove and new fridge. This is making our place POP and will add huge $$$ to the selling cost… new flooring and some carpet… remodeled the very cheesy looking master bath, it had a corner drop in shower and the pan was cracked and leaking, now it a beautiful walk-in in shower… We painted outside repaired rotted wood and painted some of the inside and did some minimal landscaping. This is not our first home to sell, just the one that has been our primary home for a long time. All of our improvements are things we were planning on doing because it needed it. We do improvements as we go along in any home we have with always having the intention of making it the most comfortable practical place to live in and making it easier when we do sell. A home is a big investment and when done right can make bank when you sell. We have increased the value far beyond our investment…Buyers will have a turn key property and our life is better for the improvements. We always have the Big picture in mind. No short cuts here, not in this region. Plus we answer to a higher power and are not looking to scam anyone.
I am jealous! Impressed you did the install yourself. I wish I had "handy" skills like that. Where I live everything is overpriced. Most of the buyers in my area want higher end appliances, cabinetry, and finishes. Its too rich for my blood. I live in Orange County, CA...its way expensive here. Its so refreshing to hear other people chime in about how expensive some of our prices are out here. Congrats on rebuilding your kitchen!!!
@@AudraLambert we live in Sonoma County up north in the People Republic of Kalifornia… my husband and I ( assist as much as my health will let me) do most of the work, but this time we have hired different people along the way to help and will hire flooring guys to do the floor, I cannot crawl around anymore. Lol
Audra, you are 100% correct on this! Yes, yes, yes. Whether you are FSBO, or with a realtor, this is right on!
Thank you! Glad you think so...thanks for the comment.
no new roof except in FL where insurance does not recognize a roof over 10 yrs old. Replace it in FL if it is near 10 yrs so you have issues staying covered.
So funny you mentioned this...I just finished a video talking about this because I received so much feedback about Florida regarding roofs and windows. Good to know. Thanks.
GREAT tips Audra and thanks for sharing! My home in New Mexico will be sold "As-Is" but I will do some minimal things to make it show better. I need a new roof since it is old, leaking and was damaged by large hail. (It has been inspected.) I also had to replace the front wood fences and gate since they were old and the west side blew over from the high winds this spring. This really already made the curb appeal better. Not sure about what flooring to install in the three bedrooms since I took out the old and original carpeting and pad. But after painting, I might just have new carpeting installed instead of the more expensive options but I will discuss this with the new realtor I will hire along with other minimal things I will do to sell this house in the next year. Keep up your FINE work in your videos and thanks for sharing your professional tips with all of us. 😎
If your handy and can do the work yourself . Kitchen and bathrooms are your best return . I’ve done total remodels on both it’s always paid off for me . Never over spend for your neighborhood is key also.
That is a very good point. Its important to look around your area/neighborhood to see what is customary/common in the properties that have sold. You do not want to upgrade your house more than you need to or what is expected in your area. Thanks for you feedback!
Full kitchen gut and rip down walls and adding a second laundry so no more sharing with the suite: $12K canadian. Added value: over $50K. That's the power of doing all your own work.
Thank you for this video. It pretty much confirmed what my intuition was telling me, but it's nice to have someone that knows a lot more about it say the same things. Since I'm doing the vast majority of the work myself, it also takes a lot off my to do list, lol.
You are so welcome.So glad I could help. You sound like a hard worker!! Well done!!
@@AudraLambert Thanks, but it's not by choice, lol.
I do have one question. My mom passed recently and I'm an only child, so I inherited a hoarder house that was built in the 50s, so the rooms are all chopped up. If I remove one cabinet, it opens up the kitchen to the dining room. Do you think it might be smart to take that one cabinet?
Pay attention to the landscaping. Buyers are already halfway decided yes or no by the time they walk up to the front door, based on location and look. Inside, layout is what will push them the rest of the way.
Very good point...thanks for sharing.
Thank you.
And now, I'm going to have my wife watch this video when she gets home. People listen when it comes from someone else.
Yah...I am married...same thing...LOL. Thanks for watching.
I love your frankness. Thanks for the good advice.
You are so welcome! Thanks so watching!!
I've seen some houses listed for sale that scream "Bring your paint can when you move in!" One bedroom is blue, one is purple and the kitchen is orange. Yuk! I'm currently painting my whole house and am doing the white (called weathered white--so nice) from a dark green. I'm getting some criticism that it's too bright and too light. I think it looks awesome and just naturally decided to do all the same color. It's now clean and bright looking. I'm also doing the little things like replacing the thermostats from a beige color to white ones. Painting all doors and trim. I'm following your advice but did it before watching your video! Not putting house up for sale. Just want to make it nicer for me.
Good for you!! I am sure your Weathered White paint is going to look splendid!! Bright and light sounds perfect!! Thanks for watching!!
Don’t forget to add the white floors and carpets too. Something wrong people who have to live in a white house. There are many colors, soothing greens and lavender, nice gardenia or peach for living rooms, light blues for bathroom, colored on the outside to match with the surrounding environment etc. There are different color pallets and color combinations. My multicolored home is restful, soothing, and energizing. The colors match beautifully with the tan, gold granite countertops and Spanish terra-cotta tile. Everyone tells us how beautiful it is. When I sell a house. I don’t even want the white freaks coming to look. I know how to suss that kind out. When they do come over I just go inside and they go away eventually. Lol
You spoke of painting the cabinets . That takes an artist to do it WELL. Most dyi jobs look exactly like that
I have been told by three realtors to not spend a dime on my house except for required maintenance. We have owned our large lot for almost 40 years. It was a great place to raise kids, have a large garden and offered privacy from neighbors. But the city recently changed the zoning code so it can be divided into six duplex lots (12 housing units). That is the value of the property, and if a young family comes along and wants to invest and use it as we did then they will probably want to update the interior as well.
Yup...you've done you research. Very cool about being able to divide into sic duplex lots. Sounds like you made some wise decisions. Congrats...and thanks for watching.
I’m a realtor and agree with all of your recommendations on what not to do and the importance of fresh, neutral paint throughout and clean windows!
Thanks Melinda for your comment...I appreciate it❤
I bought my first house (yay) a couple of years ago, and given I'm in it for the foreseeable future, I'm doing the big budget things; Tin shingle roof - insulation - built ins - and I'm decorating to my tastes
When it comes time to sell all I'll need to do is to get is clean, tidy, and painted neutral. Reseed some grass, clean up the window boxes, and maybe replace the formica counter for a more substential one if that. People need to realise not every buyer wants to live in those HGTV "Target lux" houses and will not pay the difference, especially if someone down the block is selling cheaper.
Congrats on your home purchase. You have a great plan!!
I have an outside wood boiler that heats the water in the the floor. Should I invest in a propane run boiler?
Or, just leave it as is and the right buyer will come along?
Thank you!
As someone who had to replace all the windows in my 1940 built house, I will never, ever buy another home without making sure the windows are in great working order!! Why my inspector didn’t catch the issues is a mystery and I didn’t realize how horrible they were until we were in there for a year or so. My advice to anyone buying an older home is to literally check all the windows personally before buying! Also get the pipes/ plumbing checked by a professional…we have tree root issues. I love our home because of how well it’s built - solid doors, beautiful original wood floors, great neighborhood, etc. and would buy it again, however, the seller would have been asked to fix many of the issues we are dealing with now.
Those are all very good points. If there are significant defects on the property, the seller should fix and/or credit the buyer. So sorry to hear you had so many issues the inspector didn't pick up. Glad you love your home. Appreciate your comment...its a good one.
Exact same situation with our home's windows upon purchase, a very expensive lesson!
Hire a contractor to do your own inspection
My house was built in the 50s. It has beautiful original built in place solid wood windows with cooper runs. They work just fine and have custom made storm windows that are numbered to match each of 25 windows. The crap they make today pales in comparison to these windows. They are protected by a hip roof all around the house. I soul never replace these. In closing, not every old window is bad. 🙂
Thank you for this! Im in the process of helping my retired parents get their home ready for sale in southern CA and making some repairs and paint. You made a great point about the aged roof how we can get someone to check it out and certify its in working order! I was about to dish out 10k on the minimum to do another layer over existing roof but I will definitly get some AC and roof experts take a look first.
So glad I could help. Always a good idea to make sure "things" are in working order. I would try to get those inspections verifying that the roof/AC are working well. If not, try to get them working...saves a lot of money. You'll do great when selling. Best of luck!!
I bought house A over house B even though it was a little smaller because the previous owner had replaced the windows with energy efficient ones, the A/C was a year old, the carpet was taken up and replaced with tile and wood, the home inspector said the roof needed replacing so that was new as well. (it’s a townhome so just a square pitched roof and I paid the difference for a higher quality). It also came with kitchen appliances and a relatively new washer and dryer.
They were small things by most people’s standards, but coming out of a divorce and not having a lot of money for things, it was nice to have them in house A. Lol
Hello there again Lela! I agree with you. If you have the same house, in the same location, that share similar amenities, the house with the updated windows, AC, roof etc would sell quicker especially if in the same price range. In our market in Orange County, CA there is scare housing inventory. If you're a buyer, you're lucky to get a house in fairly good condition. The purpose of this video was for sellers who want to sell in the market today in my area. I see so many home owners putting a boat load of money into their property and not getting their return on their investment. As a seller in today's market (in my area), you don't need to make those huge investments...just make sure "things" are working. I did recently purchase a condo for investment purposes. I chose a property with updated AC, windows, roof etc but needed a little cosmetic love.I didn't want to put the investment into the big ticket items. Most buyers don't think about these things in my experience. Best of luck to you on your new chapter...and congrats on your new property!!
same
So your absolutely correct, we do high-end kitchens here on Boca for close to 28 yrs and I tell the clients the same thing , don't drop all this money, your selling it, let's just do a beautiful face lift.I love your tip on the roof certification, I have to tell my daughter which wants to sell.
BTW, I love your laugh! Oh idk why it shows Veronica as my Name, that's my wife, I'm Luis.
You have a new follower too!
Thank you for all the great tip and knowledge...your really a super star with this.
Thanks Luis...I really appreciate your comment. Glad we are in agreement. Thank you so much for your kind words.
Some improvements don't add much value, but the owners of my apartment complex renovated the whole property and tripled the value when flipping. Guess what happened to the rent. So, the adding return on your investment thing takes high skill.
Upgrading a rental and upgrading a home to sell are two different investments. If you are selling your property, I would suggest investing as little as possible to give you the biggest return on your investment. Every area has different demands regarding their expectation of seller upgrades. My biggest concern for most sellers is they think they have to put a tremendous amount of money into a property to sell. There is a balance. When an investor upgrades his property and charges a higher rent, that may make a lot sense. The investor can write off the upgrades, depreciating his investment, while able to charge a high price. Most investors will not invest in putting a pool in the backyard, or making large property additions because they know it won't pay off in the long run. They will usually do a comprehensive study figuring out what the rent increase would be if they made the upgrades, if it makes sense and have the money, they will usually move forward. Homeownership is a bit different. Thanks for your comment...its a good one!
I’m pleasantly surprised that your list was VERY REASONABLE !
But as the commentator below me noted those prices you gave as estimates for a pool and the furnace were in my opinion OVER and above what the average homeowner pays for those items ~ but then perhaps this is a case of LOCATION !
Oh I am so glad! Here to help:)
I think this video is geared towards people who are looking to upgrade just to sell. If you plan on being in a house for a while, even if its not your "forever home", its better to upgrade your house to suit your needs. I upgraded my whole kitchen (completely gutted) for a good price (shopped around, got amazing deals, did a lot of diy) and I absolutely love it. When I do eventualy sell, I KNOW it will be what sells the house. Just painting the old kitchen and replacing the hardware would have been like putting lipstick on a very ugly and very disfunctional pig.
Yes I do agree. I do think if you own a home its important to maintain and upgrade it when needed. This video is really geared for people who are putting a lot of money into the house just to sell it. When you're doing that, time is of the essence...often paying over priced for parts and labor because you're on a tight timeline to get it on the market. Appreciate your thoughtful comment!!
Putting lipstick on a dysfunctional pig LOL 😂🤣
Refreshing your kitchen.N/ hance wood refinishing.
Great idea!!
Never do anything, except the things which are broken, and than repair or replace it with the cheapest possible. I used to live in the US and had several homes. I always hate when people redo their homes and than think they can sell it higher right afterwards. In general I hate all the styles people do to upgrade their homes. The chances that you will find people who don't like your style or the work which you put in is a waste. Keep the house clean and in a good structural condition. I am so more interested in that and do the changes which I like later. Have the price accordingly.
Couldn't have said it better.
I agree as well. A lot also depends on the price point of the area you are selling in & the comps. In my opinion, if everything is well maintained, decluttered & freshened up, in addition to being priced well, I feel the home would compare favorably to a home that had extensive updates done that are not your style.
So what if you dislike other people's taste, they probably dislike yours (replacing with the cheapest stuff is pretty low-brow). When you replace with the cheapest garbage you can find, you wind up spending more constantly having to replace the nonsense you installed.
My intention in my post was to say, that if you need to repair something (if you need to) don't spend too much, as it will not have much of an impact on the sales price. And too often the next party might redo it all together. My basic feedback is not to do anything and have the new owner do things his way. Therefore rather have a more realistic sales price to begin with. I have not seen often, that new installations into a home which the owner intends to sell, is of high quality! And as a seller you would never get a higher sale price because of top end quality products, which would cover the expense. Again it might not even be what the next owner wants! @@spankynater4242
Pools are the worst, my dad had our pool filled, too much $$$ in upkeep. Good call!!
Some people love pools...I don't. Especially after going through so many pool inspections. I think they are a money pit and a. huge liability. That's just me...I am kinda old and grumpy about the matter.
Agreed - pools are a liability. The young children can't play outside alone, the pool has to be cleaned a lot, the back yard is dominated by it. I see in the pool shots that the pools aren't fenced - in some countries that's illegal. Not required in CA?
@@lobstermash Yes, we are required to fence in our pools (its a code). Some homeowners will photoshop the pool gates out of the photos so it looks nicer...or take it down for the property showings and photos. Some homeowners just don't put up pool gates. To each their own.
You gave really helpful and honest information! Most of this goes the same for Arizona. It's funny, but in Arizona, a lot of people pay more for new widows here because of the extreme heat and cold seasons.
great advice! I thought along these lines, when some my neighbors recently sold, and I thought man! what a waste of money on all of the last minute upgrades. no nobody cares!! (Vallejo) They want to get into a well-maintained property that they can afford. Paint! They even pay someone to come in and "stage" the interior decor. More waste! I am not there to buy your flower arrangement =- don't care. I want a fully functional, well-maintained home, that I dont have to repair for a long time. High end homes may be a different matter. and dont even get me started on ADU's you will never see a profit in your life time on those things! Show me your spreadsheet! some people are in a dream world.
You make some very good points. I would suggest you have the listing agent hire the staging. It really is important to take great photos on your property. Staging does help in my experience. I am not a big fan of large investments to sell a house. You just don't get your return on your investment. thanks for your comment.
New roof and hurricane proof windows seem to be a must herre in Florida or else your property will get looked over.
You make a very good point. Every area has non-negotiable items buyers are looking for in a property.
@@AudraLambert 😊
Just a thorough, deep cleaning, paint if needed, fix broken things, and like she said, some small things that are quick, easy, and cheap, like nicer switch/outlet covers, maybe fixtures, etc. Anything else you never make back the expense.
In fact, the absolute best (when possible) is putting those things in for yourself (if you need/want it) 3 to 4 years prior to selling.
You’re right about doing the new things before you sell it so you can enjoy the new. We put in a new really nice refrigerator, self standing oven stove, and white quartz counter tops over a year ago. We just bought new updated washer&dryer because we juuuust might be selling in a year. I like your advise!
Good advice.👍🏻
Glad you think so! Thanks for watching my video!!
Very informative and your advice applies to realestate worldwide! Greetings from Australia 🇦🇺
Thanks for watching! Australia...wow! I've always wanted to visit your country. I know its gorgeous!!
My realtor showed me a hours with a pool. I asked him how much they would take off for the pool. I know how expensive they are. He thought I was making a joke.
Thats a good one. I swear if I bought a house with a pool, I would fill it up with dirt. I am not a big fan of pools...for a lot of reasons.
Your video gave me a lot of good info, but what I just love, is your pretty sweater. Just beautiful.
I do appreciate all what you said, it helped me a whole lot. Thank you.
Oh thank you! I do love that sweater too:). Appreciate the compliment. So glad I could help! Have a wonderful day.
"150-250" to redo the kitchen? Do you mean 150k-250k? Are you joking? Are you talking about 10 million dollar homes?
Laughing, I know I know, I live in rip off city (Orange county, CA). It really can get that expensive. However, the message in the video is true for any price point: Don't over upgrade your house for the sole purpose of selling it.
thank you@@AudraLambert
for the roof , the number of years left for the shingles will make a difference , if its shot , youll either pay for it when your the owner or at closing possibly , a good coat of ceiling paint over popcorn ceilings is much cheaper and nearly no mess than having them scrapped then painted . good video , I agree with her suggestions , besides the popcorn ceilings
Kitchen and bathrooms updating are historically the best return on investment averaging above 80% sometimes 90% for new counters, flooring, cupboards, and the cost may only be 30-40K, not 150-200 stated in the video!
Really depends on where you live and what the market is doing. In the last three years, you could literally do nothing a sell for top dollar. Also, the mistake I see sellers make is that they upgrade the property to their tastes, not keeping in mind what the buyer may like. If the kitchen and bathrooms are in reasonable shape..I say work with what you have. If you are redoing bathroom and kitchen for the sole purpose of selling, I would say stick to a budget. I live in Orange County, CA...its outrageously expensive here. I am encouraged to hear there are more reasonable places to live. Appreciate your feedback.
@@AudraLambert I agree with much of what you advise, but as you know, Real Estate is a local thing!
At my old place, I updated the bathroom by having the bathtub and bath tile re-glazed in white, replaced the toilet, replaced the sink and vanity, replaced the vent, replaced the door, and put down vinyl plank flooring. It cost me around $1,200 in total, most of which was for the tile & tub reglazing. It came out great!
Love it!! Well done!!
That sounds like a really good price.
The proxy realtor who sold our house 15 years ago did not try to sell our place until we gave in & replaced all the carpets. The first thing the buyers did when they arrived was rip all the carpet out because they wanted to extend the hardwood we had right through the whole place. On the handover day, a floor crew turned up & put hardwood right through before a stick if furniture went in...
Ugh..that does happen. However, if your carpet was really bad, it was probably worth it because your house sold (hopefully for top dollar). Congrats, by the way!
People have no imagination usually. Ive had listings that don’t sell until the owners do some upgrades. Then the buyers come in and rip everything out.
Proxy realtor???
Sounds about right both the hoses on eiter side of mine have unkept pools...
Yes, that is good tip too! Thanks
People may be choosing looks over durability .... they will regret it years later when they are dealing with a leaky roof, drafty windows, sub par furnaces / replacing a/c. I am more interested in the expensive items that you can't see... so your advice is probably true, but, I"m hoping buyers are smart enough to see value in the unseen items that are actually more valuable than the paint on the walls.
I would totally agree with you! You would be surprised how many people care more about how a property looks than the major ticket items. Having the property well maintained throughout the years and having the property present well is ideal for a successful sale. In my experience, the younger generation doesn't look that closely into the maintenance of the property. They just want a home...they feel they can fix whatever comes up...Its so hard to find an affordable home. Sometimes buyers will buy anything just to get in the market. I have heard horror stories. Thanks for watching!
Agreed. Very silly. I am an engineer. When we make missiles they have a build book that covers all the hardware configuration for the item sold. We have a build book for our house. Dates and receipts for all major systems replaced. The roof was replaced last year. The HVAC completely redone also. All covered. I want the new buyer to at least think about those things when they look at of course we are rather extreme with maintenance. I actually have a plumber come every four years to do a camera inspection of our sewer line to the street. This ensures no root intrusion etc.
@ighanchks3500 I didn’t know that about boats. Makes total sense to me
@ighanchks3500 There should be...most the homeowners I work with don't keep detailed records. Great point!!
When we sold our last house I removed everything from the walls, filled all holes/dings and repainted the entire interior. I also cleaned and repainted the garage floor. I replaced the carpet, but only on the entry stairs and the primary hall. I also replaced a toilet because the lid had gotten broken and I had simply built a fiberglass replacement lid that looked fine, but was obviously not original. In addition I replaced the glass in one window where a seal had failed in the triple glazed window, not cheap but it made a big difference in appearance.
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Be careful! If you ever find yourself loving $$$ you will not inherent the kingdom of God.
I’m still updating some of my doors - to show my house is not outdated - also garage, and walkway and painting exterior. This is not a must but I’m looking to maximize value. Also looking to update cabinet handles
By garage i mean driveway not a new structure
I am sure it will turn out beautifully!! Good job!! Updating is always a good idea.
I have a question, Audra, should older wood floors be re-finished? My living room and dining
room carpets are pastel green but they are very nice. Should they be replaced with a neutral
color? Your suggestions would be appreciated!
Hi Eleanor, Unless your wood floors are looking really shabby, I would not re-finish. Often times, refinishing hard wood floors costs almost as much as replacement. Your buyer may want to refinish the hardwood themselves and stain a different color...or they may just want to replace the floors (I know hard to imagine but I see it often enough). I would hate to see you throw money at something that you won't get back. Regarding the pastel green carpet, I would recommend my own clients to change it out. I am sure your home is lovely...its just pastel green carpet isn't what's trending right now. It will actually date your home. If you don't want to go to the expense of replacing the carpet because its in great shape, then just focus on making everything clean and orderly. Buyers like a house that is well maintained.
I paid 1K to have my hardwoods sanded, stained, and sealed. 1100 square foot home. Well worth the money. The floors looked new.
Refinishing is inexpensive; shop around and find a guy who does nothing else. Nowhere near the cost of new floors. You can even DIY - just rent a sander, vacuum up the dust, put down polyurethane. Very easy. Looks beautiful afterward.
@@johndoe-wv3nu where do you live? That’s extremely reasonable.
@@Dbb27 Massachusetts in 2016
7:15 okay, I have popcorn ceilings, I despise popcorn ceilings. But when I was looking into how to remove them. Houses built in the early 70’s sometimes have asbestos in their popcorn ceilings. I am not going to DIY that. I don’t want to have them tested because if they are that would require a hazmat removal. And I can’t afford to do that. So I am wanting to do some of the decorative ceiling tiles over it.
@@TheCatsOnMyLap you can test a small patch to see if asbestos. If so, you can get smooth ceilings with drywall installation over them. Then paint and seal.
If you're in an 'area' where a pool costs $200,000....MOVE! Then put a pool at the new house where the neighbors don't think they're quite so important.
Well, you have a point. However, you must not live in California or are familiar with the requirements to build a pool out here. We have these new enhanced guidelines where the pool has to be dug something like twice the depth as other states and reinforced with twice the amount of concrete and structural support due to the earthquake fault lines, expansive soils, and recent pools falling of the hillsides. I won't comment on neighbors thinking there so important because they have to spend $200k on a pool...no idea if that is there intentions. However, the expense of increased code regulations and requirements that are contributing to the expense of pool installation is prohibiting many homeowners to move forward with pool installation.
@@AudraLambert Californians got what Californians asked for.
Have you priced poured concrete pools lately? Not a preformed one or a liner that is just plunked down in your backyard with no after thought, but a custom designed pool with landscaping that fits your house and yard?
I live in North Louisiana and we are no where near CA standards for pools, but I know it will run you anywhere from 75k up.
@@Lela-plants Hi Lela, thanks for watching! I don't know about North Louisiana, but here EVERYTHING is expensive. It seems like everything has gone up by a factor of 2x or even 3x...and you can't get anyone to do the work. We are living in a different era!
On older homes, check for historical zoning conditions, this will make it hard to change windows. Sometimes make it cost prohibitive!
Good point...thanks for your comment.
@@AudraLambert You're welcome 😊
A swimming pool is nothing but a full time job “babysitting a body of water”. Very poor investment if you ask me. That would be the reason I “wouldn’t” buy a house.
Me too...I am not a big pool fan...but some people just have to have it.
Were starting to update our electrical last done in 1968 when we moved in.
Sounds like the right thing to do. Good for you.
I live in a famously dry sunbelt city, where there are a lot of pools, but a lot of buyers don't even want pools and, in fact, won't buy a house that has one (I'm one of them). Too many kids (or grandkids visiting) end up dying in them, and pools require A LOT of upkeep, high water bills, and extra maintenance expense that must be factored in to to the buyer's monthly budget. And besides, how many months of the year is a pool really used anyway? To pools, I say BAH HUMBUG!
Yes, I am not a pool fan either. Most people with pools would agree too. Its the people who don't have pools who have no idea what they are in for:)
@@AudraLambert Ha-ha, yup!
When I bought my house, the colour inside was all one dull greyish yellow colour. It was neutral alright, but I disliked it. All except the kitchen which was in pretty robin's egg blue and lemon yellow, which I like, and kept. I've since decorated to my taste, in gold, dark red, and sky blue, and I've wallpapered for the first time, and love the result. I did think it would improve the value of the house, but now I realize otherwise. Few people, especially up here in the country, share my Victorian taste. Oh well. I plan to use my new skill in my next house as well, and what I really want is a run down 100 year old house to rescue and restore.
$150-250k for a kitchen remodel, huh?!!
Yes, I live in "rip off city." I had one client spent $100k just in cabinets....then you add appliances and custom hoods, knobs, backsplash, and sooth sliding systems..its ridiculous! Honestly, IKEA has some great kitchen cabinet options. Thanks for watching:)
I came here for this comment. Our kitchen remodel was less than 10k. I thought I misheard.
Dude ours is coming out to 100 k - SoCal rep here though. Most of the money (to be fair) is going to opening up the space and removing a load bearing wall, new electrical panel, and adding an island. These integrated cupboards are soo expensive though. We are refacing doors and adding a few new cupboards…but I could easily see how it gets to 150 k
@@Caliabra Yup...and if you put in high end appliances...$$$$. We do live in So Cal...its outrageous to live here. Doing any remodeling is expensive. Best of luck with your remodel.
That was my comment. We can do that in my area for $15,000 or less. Ridiculous.
I want to know all the bones are good and upto date in a home purchase ...windows roof furnace air electrical big ticket items. And clean is a no braiser to me. Also having all the documentation on said "bones " is a must for me.
Good video and solid good advice.
Thank you.
Very good criteria...I completely agree!! Appreciate you watching my video.
INVESTMENT, INVESTMENT, INVESTMENT, blau, blau, blau. None of these things MS Real Estate is talking about are 'investments'. They are all expenditures. If you are doing them for you, understand that. If you're attempting to get more for your house, don't.
Hi Stephen, MS Real Estate here...I think we are saying the same thing. A well maintained property will consistently sell for a higher price than one that is neglected or has deferred maintenance. I think the main take away from my video is "maintain your property" and don't make those large investments if you're trying to get a higher Return on your investment. If you were to sell your house, the IRS allows a $250,000 capital gains deduction for filing single and a $500,000 capital gains deduction if you file jointly. The IRS will require documentation of the "investments" you have made into the property...not expenditures to calculate the base value of a property. Gardening services, electrical repairs, and any maintenance and/or any other service expenditures are not deducted off the base of the capital gains calculation. HOWEVER, property improvements/investments are. There is a big distinction. I was using my terminology carefully. Apologize if there was confusion. Appreciate you watching my videos:)
These prices you are quoting are just incredible. 😮
Yes, I know. I live in rip off city. However, the message of this video is true for any price point: Don't over upgrade your property for the sole purpose of selling.
Great to know I don't have to worry about my pink tiled bathroom!
It's almost back in style
@@MeltingRubberZ28 "almost" is good enough for me! haha
I know that times change and I was house shopping 20 years ago. We looked at a couple of houses that had been recently painted, papered, etc. I crossed them off the list because I couldn't stand they style and I would feel that I have to keep it for awhile. My biggest recommendation I would make is a deep clean of everything. We did scrape off the texture of our ceilings, for us. Also staging is often worth the money.
I paid $300 to have a cleaning service before I sold definitely worth it.