By Holly O’Driscoll
Many of my real estate clients start their house hunt saying they’re interested in a “fixer upper.” They want to save money when buying a home. Yet, in reality, that phrase spans a wide range of home conditions. Once buyers see what qualifies as a true “fixer upper” in the real estate world, reality sets in.
In many cases, buyers can’t see past old/bad interior paint. Turns out, “fixer upper” to many people actually means move-in ready, without even minor fixes.
Fact: Homes with today’s styling sell faster, and for more money.
Maximizing Potential Profits
The basics: Updating a home built in the 1990s or earlier with neutral interior paint, changing hardware such as door knobs and light fixtures, installing new carpet/tile/wood floors can pay off. Other attractive upgrades: getting rid of any and all 6×6-inch tile in the kitchens and baths.
Home buyers willing to tackle those projects can buy more house for less money. Home sellers who have the skills to renovate — or are willing to hire professionals — to tackle those jobs, likely will sell faster, and for more money.
It’s a matter of choice. Even in a seller’s market like Reno/Sparks, buyers want what they want. Most don’t have the time or skills to renovate, so buyers will pick, and pay more, for a house with other flaws if it feels modern and well kept.
On the seller’s side: Smart renovators know their skill limits and are willing to hire professionals to tackle certain jobs. Badly executed renovations are worse than no renovations!
In the home above, the sellers added wide-plank hardwood floors, replaced light fixtures and painted — among many other renovations. My clients received multiple offers on this property and were in contract within two weeks — for above asking price .
Now on the market!
Another client paid professionals to redo most of the 1970s ranch-style home pictured bleow — including systems you don’t think about (the roof, wiring, plumbing), as well as features you use every day (the bathrooms, kitchen, flooring).
2985 Rustic Manor Circle in Reno, is a 5-bedroom/3-bath 3,070-square-foot home is on a cul-de-sac in southwest Reno (Jesse Beck Elementary school zone). It backs to a canyon, has a walk-out lower level and no HOA.
It is available as I write. If you would like to see it … call soon! 775-762-7576