My home would be a tough sell on today's market

My wife and I go back and forth with the question of selling our home (to move to a more moderate climate) or staying here and making do. Our small (less than 1,500 square feet) "starter" home was built in 1983 when we moved in. We've done a bunch of landscaping/hardscaping over the years and added some nice improvements inside. It would indeed be a good starter home (only three bedrooms, 1.5 bathrooms) for a family like we were once, with only one small child. Good yard, child-safe cul-de-sac off another cul-de-sac, close to schools and stores. One drawback: No garage. Thus winter's are a hassle when it snows. Oh, and electric baseboard heating SUCKS (no option for gas or oil). So, as we think about selling, we know we'd have to upgrade the bathrooms (kitchen was done in the past two years), but other than that it would be good to go. But there's a part of me that says do the upgrades, stay here and go somewhere warmer in the coldest part of the year. I don't think we'd have a problem selling if marketed and priced correctly.
 

Love them and the beautiful glass! I once owned a home built in 1898 that had one. It had a hidden winding staircase and a regular staircase and one door with stained glass. Wrap around porch and a balcony and gingerbread on the front. It had five doors leading outside on the first floor! Loved that old house but it really needed updating and it was all expensive. It did have a lot of charm though. I actually love those older homes and a lot of people probably still do. It's the younger generation that may looking for a first home today that may not be looking for that unless they are handy and can afford to have the work done. However, it only takes one!
 
A friend of mine sold a large house with lots of updating and repairs needed to an Indian family who had in-laws living with them. They worked in Silicon Valley and had a good income but ere very interested in something economical that they could fix up. And the extra space was necessary for them because of the in-laws. They were willing to overlook some of the repairs needed and were very resourceful. They sent her photos of it a couple years after they bought it and had completely updated it. They were willing to live with the mess and clutter of remodeling and it paid off in the end.
 
In 1999, my grandma's house had to be sold. It was also a train wreck since she didn't keep up the maintenance on it after my step-grandfather passed away in 1972. However, it was riverfront property which the realtor said was the selling point. In other words, he was selling the 3-acre lot and throwing in the house. I believe they got around $70K for it.
 
I think our home would be tricky to sell as is. We had it built in the early eighties. We live in a neighborhood of all large colonial houses. We are one of only three ranches in the area. We have kept up with all repairs,new roof, and the acre property is nicely kept as well. The thing is, it is very dated. We still have paneling in a few rooms. Perfect condition but so out dated. The paneling in the living room and dining room I painted over and then splatter painted it. I have a stenciled border in the master bedroom. My son did update the cabinets in the kitchen but the appliances are quite old. I agree the young families who are looking for homes just want to move in and not have to do a thing. My daughter just recently moved from the west coast and that was her top priority when looking for a home. Move in and do nothing.
 
We lived in a classic craftsman built in 1923 and boy was that thing a pain in the patootie! The electrical and plumbing had apparently been done by Rube Goldberg sometime in the past. I actually had a plumber say to me, "I know you have hot water in the kitchen but darned if I can figure out how it is getting there from the water heater."

When it was sold, we moved for a couple of years into a rental townhouse. How nice it was to call up the office and say, "YOUR toilet is leaking" or "YOUR refrigerator is not cooling" or "YOUR air conditioning is on the fritz".

By then, we had forgotten about the "joys" of home ownership and bought another house. Sigh. Another 14 years of "my problem".
 
I had a younger cousin who with her husband bought a big Victorian home in S.C. But that was a couple of decades ago and they have since moved twice due to his job. I still see on the House Hunting shows that some young people love old construction and older style homes. But certainly if there is a lot of work to be done, especially work that shouldn't be done by the homeowners themselves (eg; electrical wiring), it has to be priced accordingly. There needs to be consideration of if even at a much lower sale price, would there be at least some net profit. Add to that the savings of owning a smaller, more financially manageable home or apartment, hopefully in a location that is very walkable or has a great public transportation system for convenience and to save on car expenses.
 
One realtor that looked at my house was shocked to see wallpaper in all the rooms (some rooms even have the ceiling wallpapered). She wouldn't even consider listing it unless the wallpaper was removed an the walls painted. I think wallpaper goes with the Victorian style. Why would it give that realtor a brain hemorrhage?
 
Although wallpaper is experiencing a bit of a resurgence I think, most people look at an old house's wallpaper and see an old pattern that is outdated and will be a total pain to remove. And a fresh coat of paint makes any house sparkle just a little more than will old paper with potentially some scuff marks, wrinkles, corners lifting, etc.

I have moved over 20 times, bought most of the properties and when I look at a house, that's what I see when looking at someone else's wallpaper choice (and especially if it's very old). I know it's a hard thing to do, but if you are thinking of selling, you have to quit thinking of what you like and think instead about what will make it easy for people to like your house. If you love brilliant green walls, so what, because most people hate brilliant green walls. So paint it out with a colour that most people are comfortable with. Light, bright and clean is the order of the day for a buyer.

If you love lots of precious stuff all about you, the lookers have a hard time seeing past that (and especially if they are 'tidies') and will only see your house as cluttered and untidy and will be inclined to want to get out. Selling a house is not all about you. It's about helping people imagine themselves in that space. That's why realtors will advise you to pack away your ornaments and personal photos of family.

I'm not trying to offend at all debodun, but just sharing what I've learned after forty years of moving almost every other year.
 
debodun said:
.....young people go to a "big box" store and by cheaply made and shoddy merchandise rather than buy vintage goods that are much more durable at a jumble sale. Why....because they are new.
Click to expand...

Maybe. Or maybe it's just not a style they like. I had a wealthy friend who lived in a beautiful 1894 Tudor they had spent decades restoring. She had many magnificent antiques as well.

But I'd never live in a home like that. I can admire it...but give me a Frank Lloyd Wright Usonian, or an urban loft filled with Milo Baughman's furniture, any day. My DH is even worse; if he could somehow manage it he'd live in something really Minimalist, with everything hidden behind cabinet and closet doors. He hates fussy, ornate or cluttered design.

Homes in "turnkey" condition are prized out here because they're very rarely found. We keep our home in very good condition but even so, there are repairs waiting to be made. Almost all the couples we know, even at the higher income brackets (people who are multi-millionaires), consist of both spouses working.

Most young folks lead full, busy lives. Jobs are more demanding now; commutes are longer and travel's always a hassle. Don't have time to spend living with dust and dirt, and fighting with contractors and permits.

My niece-in-law thought she wanted to be a "stay at home" mom so she could quit her well-paying job with Price Waterhouse Cooper. Five years later, she's about ready to start climbing the walls! She's looking to start a second career as a RE agent.

When both spouses are working and have kids, it's hard to face a substantial remodel. My nephew has remodeled several houses already and knows how time-consuming it is. For their most recent purchase, they bought a house based on school district (since they have three young kids), then remodeled it BEFORE they moved in.

It was six months of cramped uncomfortable living with one of his parents, but they have all the "bells and whistles" they want, including master bath suite with large shower and gourmet kitchen. They put in double-paned windows and a second full bath for the kids. They needed turnkey to reduce future maintenance hassles, which never come at a convenient time (as we all well know, LOL).
 
The two worst rooms (IMO) in my house are the bathroom - antiquated plumbing, stained porcelain, and kitchen (spatters on the walls, old appliances, warped linoleum floor tiles, knocked out ceiling and wall between windows, out-of-reach cabinetry (for a short person). One realtor that looked said they the two rooms that are the biggest selling points of a home are - guess what?

My Kitchen

kitchen.jpg
 
debodun said:
The two worst rooms (IMO) in my house are the bathroom - antiquated plumbing, stained porcelain, and kitchen (spatters on the walls, old appliances, warped linoleum floor tiles, knocked out ceiling and wall between windows, out-of-reach cabinetry (for a short person). One realtor that looked said they the two rooms that are the biggest selling points of a home are - guess what?

My Kitchen

View attachment 36004
Click to expand...


How long have you been living in the house like that?
 
Obviously, there is not enough storage space, then. Or, If it has "plenty of cabinets" but they are already full, that means you have more than plenty of kitchen stuff.


If you're serious about selling, you need to make the place look like there is adequate storage.
 
I hear ads from these people on the radio all the time, they say they'll buy your house, cash money, as is. I know they will give you the least amount of money possible, but maybe in situations like yours, where the house is in need of repairs that likely cost thousands, and other costs of owning the house like taxes, maintenance, etc. It might be something to consider? It doesn't sound like you're happy at all being there Deb, I think a move and downsizing would be best for you in my opinion. If it was me, I'd probably at least get an estimate from these people. http://www.webuyuglyhouses.com/new-york/
 
Deb, I've been thinking about your situation. It could have been me. Have you ever thought of just selling your house AS IS, including all furniture and stuff you don't want to keep? Forget what the real estate agent says. He/she is just out to make a quick commission. Someone might buy it to flip.

It might take some time to find the right buyer, and you wouldn't get as much money, but in the amount of time you have been thinking about this, you might have had a buyer by now. It is weighing on your mind too much, I think.

Repairs, or remodels, like others have said...you might choose something that an otherwise potential buy wouldn't like, anyway. Then there will be inspections. They might come up with other things you hadn't thought of.

Just a thought. Peace of mind is worth a lot of money. At least it is to me. That's what I'm going to do with my parents' house, even including the tractor, lawn mower, furniture, dishes, etc, one day.
 
NancyNGA said:
Have you ever thought of just selling your house AS IS?
Click to expand...

All the time! However, I have to have a place to move to if I sell. I looked into senior housing options last year and wasn't happy with those, either. Too may rules, too expensive and those that were under $2000 a month to live were dumps (i.e. no amenities).
 
You must log in or register to reply here.

Back
Top