The difference between a selling point and a price adjustment!

Richard,

I do upgrades to my house now so I can use them. I recently had a seller who wanted to recoup the $9,000 he spent on a screened in porch...30 years ago. Not gonna happen.

Rich

I'll second that! Down here I am constantly telling folks the same thing about a pool....install it if you are going to enjoy it but don't expect a dollar for dollar return!

Richard, great point and a very important lesson that all sellers should keep in mind.  By the way, I'm now referring my price changes as a 'market repositioning'.

Richard, true. It does depend upon the market area. Stainless steel, granite and hardwoods certainly help in this area...

South of you in Houston County GA buyers want the upgrades...as many as they can get.  Unfortunately, when sellers try to recoup all the money they've put into the house the property often sits.

Maintain as necessary, upgrade for yourself, and sell without emotion...sure wish it was that easy!

Very well stated. And it runs counter to what many home improvement companies tout as dollar for dollar returns.  It does create unrealistic expectations for home owners.

I so agree with you on this Richard.  Bottom line, a well maintained and CLEAN home go very far when putting value on it. 

Very well put, I have had two listings this year that the owner way over upgraded and there was no way to sell for a price they could recoup the money spent. Great points, and I agree with Paula, neat and clean go a long way toward selling

In our area, buyers expect that things like hardwood floors, granite countertops and stainless steel appliances should be standard in homes. They are not usually paying more for these upgrades but they will definitely pay less is they don't see these.

And over-improvement for the location never gets back what the seller put in. Many nouveau filppers continue to make that mistake.

In some markets, what used to be considered "upgrades" are now standard fare, no matter how much money the seller spent.  Great post, I'm reblogging.

Maintenence are not improvements.  Improvements will not alway net the seller as much as they cost!

You make such important points here that all sellers should read - and heed!  Another one I run into frequently is the seller who has created landscaping that is so elaborate that it may actually be a negative for some buyers who only see lots & lots of work to maintain it - or lots of cost to pay someone else to maintain it.

Richard - To Formica or not to Formica...That is the question.   (outside of price)

Richard, A hard lesson learned by many sellers, a dollar spent does not a dollar return.  Do it because you enjoy it (within limits, don't destroy the resale of your home just because YOU like something!).

Richard good points. We are in the process of renovating our condo in Arlington VA...all the other units have renovated their kitchen...with the standard granite and that is what we are doing before it goes on the market.

Richard well said.  We bought an older home and upgraded it quite a bit.  My wife thinks it's worth a whole lot more than i do if we tried to sell it.  She doesn't believe me when I tell her what i thinks its worth.