Which Fix-Ups Make the Most Sense?
You may not be thinking of selling your home this month, this year or next year. However, sometimes, the unexpected happens and there you are - involved in a job transfer, etc.
Actually, you should be thinking about selling your home at the minute you move into your home or even before that if you are buying in a new home subdivision and will be picking out "upgrade" features for your home. Every decision that you make toupgrade or change the home or landscape should be considered carefully. If you plan to live the rest of your life in the home, then making the decisions based on your enjoyment of the upgrade is all you might need to consider. If you plan to be therefor no more than five years, than your decision process needs to have a different focus.
Most appraisers will tell us that a $50,000 pool addition may get only 50% of its value returned to you. A pool addition is one of the decisions that needs to be considered from an "enjoyment" and "monetary" point of view.
When buying a home, you want to have a general idea about how long appliances may continue to work so that you can budget for replacement(s) if necessary. When selling a home, you want to make sure that you provide a home warranty that covers the appliances so that you will not have to worry about appliances breaking down and being contacted by the buyer. This is a general list of appliances and major structural components of homes. It is intended to be used as a guideline only. Make sure you check with a licensed home inspector or appliance manufactures to get written information on these matters.
The general expectancy of properly installed and maintained products and materials in the home:
- Dishwasher - 10-12 years (Keep drains clear of debris by pre-rinsing dishes)
- Range - 19 years gas, 17 years electric, (Keep area directly below range lined with foil)
- Garbage Disposal - 6-15 years (Avoid contact with hard objects; use cold water)
- Bathtub - 50 years cast iron, 10-15 years fiberglass
- Water Heater - 14 years electric, 11-13 years gas (Drain 3-4 gallons from tank each year)
- Wood Deck - 15 years (Paint or preservative each two years)
- Roof - 15-30 years asphalt, wood shingles and shakes (Shakes preserved every 5-7 years), 50-100 years slate and tile, 5-15 years rolled, 10-20 years tar and gravel
- Siding - 50 years vinyl, 20-50 aluminum, 10-100 years wood (depending on moisture)
- Sink - 8-10 years enamel steel; 25-30 years enamel cast iron or porcelain
- Counter Top - 10-15 years laminate, lifetime ceramic tile
- Exterior door with protected overhang - 80-100 years
- Garage door opener - 10 years
- Cooper wiring - 100 years
- Sealer, silicone and waxes - 1-5 years
- Paint - 5-10 years wall and trim, 7 years exterior
- Ducts - 30 years galvanized, 15 years plastic
- Swimming Pool - 18 years
- Trash Compactor - 8-15 years
- Wallpaper - 7 years
- Carpet - 11 years
- Brick, Stone Wall - 100 years
- Gravel Walk - 4 years
- Concrete Walk - 24 years
- Drywall -30-70 years
- Microwave - 11 years
Depending on the market at the time you put your home up for sale, you will need to consider exactly which items need to be "polished" to make the very best presentation for your home. In a "Hot Market" you still want to receive the top dollar for your home so "staging" your home to interest the most buyers to present offers for you to consider is still important. Most sellers think they should only have to "spit and polish" their homes in a "buyers market".
A new paint job, if needed, is the best way to freshen the outside and inside of your home. A freshly manicured lawn and flowers blooming will present the best view from the street where most people are making up their mind if they even want to look at the inside of your home. Remember, you want your home to be "inviting" to the prospective buyers.
There are inexpensive ways to update your decor inside your home too. Some pretty accessories from places like Target, Kmart or Pier One can make your home sparkle and not break your budget. Window shop for ideas or use the internet, catalogs and magazines.
Be super critical because the buyers will be. Agents will tell you most buyers don't have much imagination and only see your home the way it is. They also are under duress during the home buying/selling process and want to make sure they get the best deal on the best home. Will your home present itself as "the best deal"?
Property Condition Analysis:
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