In a previous blog I spoke about a very nice gentleman I recenlty visited regarding listing his home. We discussed some minor updates that should be done to freshen up his home to show better and attract a larger group of buyers.
This home was built in 1987 with orginal carpet from that time. Mauve I think is the correct term. Fortunately, it is only in the bedrooms. The livingroom and dining have a neutral cream colored carpet. We discussed possibily putting in new rugs. He was advised by his previous agent to just give a carpet allowance at closing.
In my opinion, unless you don't have the money to make this repair, it would be better to replace the worn outdated carpet with something up to date and neutral. He was surprised by my advise until I explaced why.
I explained to him that in order for someone to fall in love with your home they have to do so with Mauve carpet. Now if they are looking at a few homes and there is a home very similar to yours and they like it equally as much as they like your home, which do you think they will pick? In my experience they will pick the home with the updated carpet. In theory it is nice that you will get the oportunity to pick your own carpet. But in practicality, the last thing a buyer wants to deal with is putting in new carpets and moving at the same time. Also in my experience, if they decided to buy your home, even with the carpet allowance, their offer will be lower because the home is "dated".
The seller also was under the impression that if he offered a carpet allowance can he raise up his price more. Ahh no!!! That Mauve carpet reduces the value of your home even if you are giving them an allowance.
I am sure other agents may have a different opinion, but in my experience, this is the best way to handle old carpets.
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