If you're going to be living in the house for a few more years, I wouldn't worry about taking down the wallpaper now, especially if you like it. When you are getting ready to sell you can have it taken down and have the walls painted a neutral color. Although you didn't ask, the one thing that I would do now is replace the polished brass light fixture in the foyer. You may want to replace any other polished brass fixtures (interior and exterior) as well. I think that dates the house moreso than the wallpaper.

Wallpaper has to go before going on the market. As was said above, some changes in light fixtures might give it an initial impression of being updated and help in the sale.

IMO, I also think the Ethan Allen (my guess) maple furniture would look better without that wallpaper.

My old house was mostly wallpaper. Even though it was muted in pattern and color it still looked dated. The people who bought it were in the decorating business and there first priority was removing the paper.

You will want to remove the wallpaper before selling. When to remove it is up to you; keep it a while if you like it. You may want to update the light fixtures before selling, too. But, who knows what style/finish will be "in" when you sell in a few years. In the meanwhile, decorate to your tastes and enjoy your home.

I would get rid of it. It takes attention away from the nice wood rail and furniture. Def. should remove before selling.

If you're not selling for a few years, maybe you should try to focus more on maintenance type issues rather than updating decorative stuff, unless you don't like it. Stainless steel, brushed nickel and oil rubbed bronze will look dated soon. Wallpaper goes in and out of style, too. Those things can be changed shortly before you go on the market. If you update the polished brass now, you could be updating back to it when you sell.

Ditch the wallpaper, if you are getting ready to sell. Experienced buyers who have dealt with wallpaper in homes they've bought will not trust that it was put up properly. All it takes is once in a home where the paper was not applied correctly and you had to remove it to keep you from it forever more!
In a space that size it will be even a bigger consideration.

We spent lots of time removing wallpaper, for the right house it would not be a big deal to do it again. Of course depends what market you are in and what you are competing with. Here there is no new construction so unless you pay above market for decorating you will have to do work

Maybe I am out of date but I see nothing wrong with the fixture. Where I live brass is still considered fine (the land of Ethan Allen and Colonials in the Northeast)

While the wallpaper is not my taste, if you like it leave it. If you paint now, if you have small children you may have to paint again by the time you are ready to sell. Your paint color may be out of date too

Wow, that's a lot of wallpaper. My friend lived in a similar style house, it will take time to remove & paint, so you'll have to keep that in mind if you are doing it yourself. While I'm not usually into stripes wallpaper, I actually like it. The colors are nice.

How long before you'll put the house up? I would start getting estimates so that you know not only how much it will cost, but how long the job will take.

Happy belated birthday.

I would do updates NOW if you have the time. It is much better than rushing around in a few years when you may not have time/patience/money to take down all that wallpaper. As far as a light, might look at a huge hurricane lamp I think they are called (in most model homes these days).

I don't mind the wallpaper, but most people would probably prefer it gone. I would wait until closer to the time you are going to sell it, so you won't have to repaint.

I think it would be pointless to change out the light fixture now. If you're not moving out for years to come, whatever you changed to would be out of date by then. (Sad, but true).

I had just about every room in my previous home wallpapered,all bedrooms(3),kitchen,dining room,bathroom..all professionally done, and not 1 single comment by any prospective buyer,realtor, etc...I think people over analyze homes, and what would or would not be good for a sale

As usual that wallpaper wouldn't bother me if it's the house I want because I could remove it. That being said I don't really care for it, not just the color but it's too stripey and busy and doesn't look good especially in that picture showing the clock and the hallway/banister upstairs..too much "vertical" going on in an already high and open area.

Thanks for all the frank words of advice........we asked for honest opinions and received them.

So we have finally decided to take your advice and remove the paper.

We are looking at the Wagner 905 Power Steamer due to it's versatility for other uses ).....does anyone have any experience with this unit?

I don't have any experience with that steamer. I used to rent them, figured that was costly so I bought a B&D. The B&D is ooooooookkkkkk, but for a huge job like yours you may want to rent a commercial one and just go for it one weekend.

GO!
Oh my gawd it's making me dizzy looking at it.
It's not wallpaper or the colors, it's the stripes.
Besides if you have fresh paint before the house goes on the market, it will sort of have that new house smell.