Complete Remodel or Needs Updating: Which is a Better Deal?

By
Real Estate Agent with Chartwell Kansas City Realty SP00229578 2007027091
Home buyers in Kansas City are often faced with this choice.
Shall we buy a home that's already updated and remodeled or look for a home that needs some updating? foyer  
 
The first consideration is how much money the buyers can afford to put into a home on top of the purchase price. New HVAC systems may run from $2,500 up to 20,000+ depending upon the size of the home and the age of the air conditioner and furnace and whether the house has existing duct work. Windows may be another $10,000 or more depending on what type of windows and how many you need. Kitchens and bathrooms are the rooms most often remodeled. It is a good idea to price out various finishes and appliances as you plan the remodel. Removing walls to open up the space between the kitchen and dining, living, or hearth room(s) will require a consultation with a structural engineer. In most cases, the funds for remodeling will need to come out of the buyer's pocket; they cannot be rolled into most mortgages. 
 
Next, they need to think about how much time they have to either do the work themselves or hire part of it done. Even if they hire contractors to do the work, someone will need to check on the work being done at least daily. Someone will need to pick out colors and materials and coordinate deliveries and installations. 
 
The final consideration is can you live in the house while the work is being done? If it's just painting and new kitchen appliances, it won't be too inconvenient for too long. If walls are being moved, the electricity needs to be turned off for hours at a time, or plumbing is being rerouted, there may be days that are noisy, dusty, and a need to use the bathroom at the corner gas station. 
 
The convenience of having the work all done before they move in is nice for those who don't have the time or experience to deal with remodeling and updating. The price of the home will be more than that of a home needing some work. If you are experienced with remodeling and tolerant of the messy inconvenience, there are some great deals out there. 
Posted by

Maria Morton,Realtor© Call 816.560.375Eight Mobile.     Google Maria 

  Client Testimonials  ♫  Market Reports  ♪  FAQ's    

*Information obtained from Heartland MLS is deemed reliable but not guaranteed. *This is an eclectic blog combining business with a little humor; please consult a licensed  professional before making life altering decisions. ♪♫  

Maria Morton of Chartwell Kansas City Realty is a licensed Real Estate Agent in KS & MO.  816-877-8200 Office 

4141 Pennsylvania Ave Ste 105 Kansas City, MO 64111   Maria Morton Copyright © 2008-2018 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Groups:
Active Rain Newbies
The Lounge at Active Rain
Consumer Education in the Real Estate World
Bananatude
Feather Nesters

Spam prevention
Show All Comments
Ambassador
1,582,290
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

I think it depends on the personal circumstances of the buyer.  Some have no time or tolerance for a remodel.  On the other hand, some buyers love putting their personal stamp on a property.  To each his own.

Sep 05, 2014 07:18 AM #1
Rainmaker
247,938
Dan Edwards 425-276-7008
Keller Williams Realty - Bellevue - Bellevue, WA

 

Complete remodel will give the buyer exactly what they want. But then again. 

it will  still depend on the  buyer. 

Sep 05, 2014 07:30 AM #2
Ambassador
3,350,982
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Needs updating is the choice for me, save money over the snobs who need the latest thing and most updates are unnecessary in my opinion.

 

Sep 05, 2014 01:17 PM #3
Rainmaker
2,557,030
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I'd always choose remodeling as long as the price is doable. :)

Sep 05, 2014 01:35 PM #4
Rainmaker
2,557,030
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Although, frugality is righyt on as well, Bob Crane. :) 

Sep 05, 2014 01:36 PM #5
Rainmaker
617,780
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

I'm laughing because the responses here are just like the different buyers I work with. Some are like Laura Cerrano - they always want to remodel while others are like Bob Crane - they think that function is most important and don't care about the latest styles.  Thanks for commenting everyone!

Sep 06, 2014 12:01 AM #6
Rainmaker
1,554,524
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I've had clients want to have a move-in ready home, and when I show it to them they still don't like it and want to do everything over.  Sometimes there is no pleasing them.  

Sep 06, 2014 05:30 AM #7
Rainmaker
3,484,236
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Maria, great post for homeowners to contemplate.    Bottom line, they need to know the updates/repairs they do will not always equate into a full return of their dollars invested. 

Sep 07, 2014 02:02 AM #8
Rainmaker
3,551,048
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is hard to pick which deal is best.  Each house will offer it's own good and bad.  Each peson will see their own good and bad.

Sep 07, 2014 09:23 AM #9
Rainmaker
2,134,617
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I suspect the answer to that question would depend a lot on the home.  Some homes need only updating, while others could be significantly improved with a remodel.   

Sep 12, 2014 10:41 AM #10
Rainmaker
2,134,617
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS on having this blog featured in the "FEATHER NESTERS" group!  Great information, Maria!

Sep 12, 2014 10:42 AM #11
Rainmaker
617,780
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Wow, thank you, Myrl Jeffcoat! It's an honor to have this post featured in the FEATHER NESTERS. 

Sep 15, 2014 08:25 AM #12
Rainmaker
1,273,167
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Maria, great post and considerations I've had to go through several times. Living in a house under construction can be quite daunting depending on the level of work going on.

Sep 28, 2014 09:22 AM #13
Ambassador
1,902,847
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Maria, throw into the mix those buyers who think they wouldn't mind some updating but once the showings begin, it becomes crystal clear that nothing less than a move-in ready home will do!  :-)

Oct 01, 2014 10:49 AM #14
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
617,780

Maria Morton

Kansas City Real Estate 816-560-3758
How much is your home worth?
*
*
*
*
Spam prevention

Additional Information