| Mary B. H.: |
Hi. This is Mary Beth Harrison with Dallas Native Voice, and today I want to talk about a question that comes from a lot of my sellers. Do I update, or do I sell the house as is? Well that’s a really great question, and a really important question. The first thing that you need to do is get a market analysis about your home. Find out what other homes are selling for in your neighborhood, because that, and only that is what determines the value of your home. Not what you paid for it, not what you’ve done to it, it’s what other buyers are bringing to the table for a very similar property. Even if you think your house is worth more, the bank’s going to come along and slap our hands because the appraisal has to go with whatever it is that value is, and they go to the same documentation that I do to determine value of your home.
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Let’s take a home that needs paint, carpet, just updates, kitchen update, bath updates, whatever. By spending say $10,000 on your home to update it, can I get you another say $15,000 or $20,000? Okay. That might be worth it. But if you’re spending 10 only to get 10, did you really want to spend your time and energy updating your home when someone’s going to walk in and go, “Gosh, I wish you had put this house in blue instead of green.” So everything you did was not going to please a buyer. They would have rather done it themselves.
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So those are really important questions to answer and to look into before you ever start doing updates and hope to get your money back. If it’s just paint and carpet, that goes a long way to making a house look better, present itself better, and make buyers walk in and can see themselves living there, than walking into dirty carpet, scratched up walls or homes that are painted a different color in every room, might be worth taking a minute and getting that house painted.
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So if you need more information about that, be sure and contact us. We’d love to talk to you about it. If you need more information about real estate, you can go to our website at dallasnative.com, or any of our social media, we go where you go. Thanks for listening.
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Information Courtesy of Dallas Native
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