What are you going to do about Dad's house? He can't live alone in it anymore.
It's not easy when this happens. Dad will be living with you or in a facility. Will you move into his house or will he move in to yours? Lots of changes for everyone. 
Dad probably hasn't updated his home for years and now you have to decide if you will sell 'as is' or do some updating. Dad may need the funds to live on.
From a Staging point of view, if you are selling, updating as much as you can within your budget is the way to go. The home should appeal to as many types of buyers as possible.
If you are moving into his house and renovations are necessary, remember that some day you may want to sell. You don't want to have to undo the changes so it will appeal to buyers. For example, turning the living room and dining room into a bedroom/bathroom suite for Dad on the main floor may work now, but when you sell have you devalued your home? Remember, you may have to sell eventually to settle his estate.
Take a step back, bring in Realty Professionals as well as a designer/contractor for ideas. You want to know what features today's buyers are looking for in a home ... open concept, living room, dining room, kitchen, bathrooms, great rooms etc.
Here are a few basics buyers want:
Clean - in 'as is' condition or updated, this is always effective. It helps show that the home is well maintained.
Lots of natural light - remove those dated window treatments and let in the natural light.
Storage - everyone has 'stuff' they need to put away. Show off the storage spaces in the house.
Space - show them that this home has spacious rooms for its size. This may mean removing pieces or rearranging a room for good traffic flow.
A neutral 'shell' - using a neutral color scheme allows buyers to bring in any color of furnishings and feel comfortable.
Updates - to appeal to the largest group of buyers, show them they can move in and live comfortably without extensive work.
Step back, take some time, do your research and then decide what is best for you and Dad.

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