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kit2007

Would dated carpet/flooring be a turnoff if the price were low?

kit2007
16 years ago

I've had a couple of realtors over to look at our house which will soon be on the market. Each had a completely different approach to selling it.

1. Wanted us to replace all of the carpeting with really cheap, new carpeting because she said buyers want new.

2. Said "don't replace anything --the rest of the house is very nice -- let us see how buyers respond."

Over the past two years we have replaced about $15,000 worth of items in our 23-year old home, not to mention another $10,000 worth of things about 5 years ago (including a new roof). Additionally, we have spent weeks and weeks refinishing all of our kitchen and bathroom cabinets and all of the woodwork in the house. We are not increasing the price at all for these things because they were old items, way past usefulness that needed replacing or refurbishing anyway.

Homes in our area have not appreciated much over the years because of a boom in building that began the year after we purchased this house. We bought at the peak of that seller's market (1988) and are selling during a buyer's market that has knocked at least 10% off of the price of our home. We are hoping to get about $270,000. No other homes are for sale in our neighborhood under $300,000 so realtor #2 feels that we have a really good shot at selling quickly if we get it on the market soon. Believe me, it has been a wonderful home to live in, but we are not making a dime on this house.

So, here's the questions: What is the best way to attract a buyer? Should we replace all of the carpeting? If we do it on the cheap, it will still cost about $5000 and we will have to add that to the selling cost because we just can't keep throwing money into this house without a payback. What if we do that and the buyer wanted wood floors, or another color of carpeting? Plus, I hate cheap carpeting -- someone else may feel the same way and still offer alot less because they will want to replace the carpet.

Should we just keep the price low and hope that buyers will realize that, although some of the carpeting is beyond its prime, the house is still a good deal?

Or, should we charge extra for the house but explain in our flyers that we understand that the buyers will want to replace floor coverings and so we will pay up to $???? of their closing costs?

If you were a buyer, which would most appeal to you?

Thanks.

kit

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