Kitchen Dilemma | To Repair or Sell
Coleen Lacy
2 years ago
last modified: 2 years ago
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cheri127
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Kitchen: repair, replace or sell as is?
Comments (19)"2 cabinet doors broke and need replacing;" You should be able to get two new doors, even if they have to be custom built, for about $100, and if you can turn a screwdriver you can install them yourself. "the range hood is a terrible eyesore" I bought a new one from home depot for about $25 and replaced it myself for free. "the laminate is warped below the base cabinets, on the countertop, the backsplash and along the sink." Ok, now we're into a real issue. This indicates that there is a water problem - has that been fixed? If not it will probably have to be just to be able to sell the house. Also, with that much water damage, I would be surprised if the entire base cabinets don't have to be replaced once you take up the countertop. Still, there are cheaper alternatives - you can get new cabinets, make your own countertops from ceramic tile for about $1.00/square foot, and you can take up the floor and replace it with the cheap self-adhesive linoleum tiles for about $1.00/square foot as well. I didn't replace my cabinets (but I did some minor repairs on them), but I did replace my countertops and kitchen floor and I didn't have to spend anywhere near the money you're talking. It was a lot of work, but from the sounds of it, that beats spending a lot of money....See MoreWho to ask about repairing first or sell as is
Comments (9)You need to call a couple of local realtors and have them do a fair market value on the house as it exists, and a guess as to what it might bring when repaired. If the location is a good one, it might make more sense to market it as a teardown rather than as a residence. If the home is in poor repair in a low dollar area, then you're really not going to recuperate much in the way of repair expenses, and need to do the absolute minimal required to maintain a certificate of occupancy. That may mean that you "give" the home away at a very low price to account for it's defects. If the home is in a higher priced market and is considered an interesting style with many original features, then it may appeal to the old home lovers crowd, and you may be able to get by with just fixing the foundation and doing the roof because the new owners would want to do much of the work themselves. There are a lot of variables here, so you need the blunt opinion of several realtors as to whether or not it's worth putting any money into. After you get the realtors opinions, call several home improvement contractors. Ask them what the home needs besides the obvious defects you've mentioned. (Is the electric panel too small, what about rusted out galvanized plumbing, termite infestations, etc.) There are some structural things that will need to be done in order to even put a home on the market, vs making it "remodeled" with cosmetic changes like painting the whole place. Get ready for sticker shock. After you have both sides of the coin on the repairs vs current market value, then you can decide which route you want to take. If you have family here in this country that can help to deal with your mother on the downsizing/sentimental clutter issue that would be extremely helpful. If she's lived there a long time, she's apt to resist any changes to the home, and it might be more helpful if you were to relocate her to the end residence before you began any of the projects at the house....See MoreSelling a home: Repair first or not
Comments (10)Carolyn, At that price point you've got to be careful about putting too much into the property. Guess you already knew that, huh? :) My recommendation would be to address the foundation issue because that will flat scare most buyers away. I would NOT replace the metal cabinets. But, can they possibly be spray painted so not as "ugly"? They've got some great spray paints available today. Leave the window A/C unit & REPLACE THE FURNACE. No central A/C. I know it's hot in Texas...but at that price point the window unit is fine. If the wiring is safe...leave it alone. Definitely do a fresh coat of paint. Paint is a wonderful thing. The flower garden sounds good but is it really? Will renters maintain the garden? A dead ugly garden is worse than no garden...especially in the summer heat of Texas. If you think there will be a maintenance issue...I'd weed, put down some Preen, lay some clean rocks or slate, & call it a day. It's hard to sell a house with tenants living in the property. Seems either they won't make the house available for showings, don't keep it picked-up & clean, or are in some other way negative on the process. Afterall, it's not in their best interests to have it sell. So, if you can do without the rental income I'd recommend an empty house over the tenants. Best wishes for a successful sale. /tricia...See MoreLandlords Selling. Open Houses Are Planned. A Cleaning Dilemma.
Comments (16)My deepest thanks to all of you for your comments. I love this board. You've helped strengthen my resolve to push back. I think I was letting my nice, mommy side override my common sense. The landlord has pushed pretty hard to wiggle around the lease on several occasions. They tried to put the home on the market two months earlier than the lease allows. When we first signed, they tried to insert a clause keeping the house on the market for the entire rental year. Whenever I push back, they back down. However, I do sense their desperation and want to helpÂbut only so much. Actually, their situation is a good example of why one should be very careful about rushing to buy a new home before the old one is sold. They bought this house 3 years ago during the boom. It appreciated very quickly...50% over two years. Using a cash-out refi, they bought a very expensive home (twice the price of the rental) and moved in. The market turned. This house didnÂt sell last year so they rented it to us for 67% of their carrying costs. Now, theyÂre trying again. For their sake, I hope they succeed. Financially, theyÂre hurting. If I were selling, IÂd wait until September and let the house shine. August in DC is dead, real estate wise. We decided to rent to avoid the exact situation. I did my time as an "accidental" landlord in the 90Âs downturn. Been There, Done That. Great lesson that, once learned, never needs to be repeated. The lease directs us to make the home available to the landlord for showings during the final 60 days. They cannot use a lockbox and must schedule showings at least 24 hours in advance. The law is silent on Open Houses and my attorney says itÂs a gray area. We can fight them on it but is it worth it when weÂll be gone by the third week in August? I wrote off the security deposit when the landlord spent 45 minutes photographing the hardwood floors in the kitchen/family room. Why do I think weÂre going to disagree over what constitutes "normal wear and tear"? So, IÂll keep the place neat and clean, one of us will stay for the Opens, and the rest of us will take a break from packing and relax at the pool. WeÂre packing the valuables now and will move them out before vacation. As for the boxes and moving clutter? IÂll remind them of what theyÂre facing. Thank you all so much for the reality check. By the way, despite the problems described in this thread, renting has been a very positive experience for us. At first, I dreaded it but the financial savings and sense of freedom has been great. Over the long haul, I prefer owning both financially and emotionally. But, in our market, itÂs quite easy to find a lovely rental for substantially less than the costs of owning. I love putting money away for the future. Best of all, IÂm so relieved that I wonÂt have a home to sell before we build/buy again. Thanks againÂNova...See MoreH202
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