Home Buyers - Cosmetic Allowance or Work Already Done?

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Real Estate Agent with Schmidt Realty Group RB14038403
https://activerain.com/droplet/4WNQ

Home Buyers - Cosmetic Allowance or Work Already Done?

This post is more of a probing question than anything else.

Consider this: Many times, you will come into a home where it is obvious that the sellers repainted and recarpeted. How does that generally make you feel, even if their choices are tasteful but don't necessarily match yours?

 

 

 

 

 

 

 

 

 

 

 

 

Question One: If you are in the market for a home and you see one with less-than-desirable paint, flooring, etc., would you prefer that the seller pro-actively take care of these issues  - knowing that their paint and flooring choices may not match your preferences, or would you prefer that the sellers simply give an allowance for you to do your own thing?

As a follow-up, would you be more or less likely to buy if sellers just gave you an allowance and it was up to you to re-paint and re-carpet instead of it having been already done?

Please comment. Brokers - what are your opinions?

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Rainmaker
4,314,064
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Mike, some, OK most buyers want to just move in and not do any work like paint, carpet and refinishing floors even if the colors are not their favorite.

Oct 20, 2016 01:33 AM #1
Rainmaker
112,416
Jeanne Feenick
NextHome Premier - Basking Ridge, NJ
Basking Ridge, Warren, Bridgewater Market Expert

Agree with Joan - I am finding increasingly that buyers are most attracted to properties that are "move-in ready".  Sellers lament that today's buyers have lost their vision - maybe, but it is, what it is.

Oct 20, 2016 01:38 AM #2
Rainer
47,600
Mike Schmidt
Schmidt Realty Group - Brownsburg, IN
Buy, sell and invest Indy real estate

When I do open houses, a lot of visitors tell me that they understand seller's taste might not be the same as theirs, and that they wouldn't mind putting in the work themselves. But this usually doesn't jibe with agent feedback received when they bring buyers through. I agree. It seems that most buyers would rather have this work already done.

Oct 20, 2016 01:47 AM #3
Ambassador
2,454,531
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Interesting question, Mike.

    I am more concerned with the quality than the color choices.  Was it professionally done, or was it a do-it-yourself job?   Were any latent defects covered by the new carpet or new paint?

   Another challenge is "allowances" or credits on the CD or HUD-1.  Many lenders won't allow the Buyer to walk away from the closing table with money. 

Oct 20, 2016 02:02 AM #4
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3,675,903
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Mike, most of my buyers want everything done. Plus if they see something really objectional that might turn them off to the whole house. The moving process is already a chore and the possibility of having to find a contrator, pick out colors or fabrics then wait possibly until its done to move things into a room is just "one more thing". Fix it, paint it or carpet it with neutral colors before going on the market is my advice.

Oct 20, 2016 06:16 AM #5
Rainmaker
5,765,792
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current blogs. I hope all is going well for you.

Aug 16, 2017 10:32 AM #6
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Rainer
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Mike Schmidt

Buy, sell and invest Indy real estate
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