Your Home Is Not Your Cheese - Sell it Right

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Real Estate Agent with DFW FINE PROPERTIES 0506509

by Patricia Feager, 6/20/2018

 

"Age is something that doesn't matter, unless you are cheese." --- Luis Bunuel

 

A home is made of material things, i.e., bricks, mortar, wood, cement, sealants, chalking, glass windows, brass, metal hardware, etc. It is not cheese. It doesn't have feelings. However, like humans, a home does age.  

 

The best homes will improve with age. In order for sellers to maintain value in their homes, they must know and understand age has its limitations and challenges. This is not to say one has to be concerned about aging; however, owners should be aware of what is considered real property and how it impacts the value of your home.  The average life span of homes, appliances, and mechanical will vary depending on number of occupants, location, climate, and maintenance. 

 

Exteriors and Interiors have predictable life expectancy. Chalking, paint, and adhesives does need attention to details. Interior and exterior paint generally lasts for 15 years or longer, depending on conditions, quality of products, moisture, heat, and cold. But there are other factors to consider too. If a homeowner is negligent in home maintenance, or the work is not done to professional standards, things break down and needs paint, chalking, and adhesives more frequently. 

 

Appliances, manufacturer, quality, and recalls. Older appliances are like old cars, if you wish to keep them running well, they must be in working order. Safety and functionality is key. However, life expectancy depends on how products are used, designed, where and how materials were made. Wear and tear is normal but to some extent it may be worse for some than others. Consumer Reports are helpful when buying new products. However, when putting your home on the market for sale, home owners may want to consult with a home inspector before the property goes on the market and let the inspector provide valuable information in preparation for your sale.

 

Safety always takes precedence, regardless of age. Having warranties, guarantees in writing, and home service plans are important factors to consider and have in place when purchasing a new home or any new products for the home. Keeping accurate records helps when it comes to sellers disclosures, inventory, and insurance claims. Appraisers appraise based on value and quality, not quantity of material goods. Depreciation is a fact of life.

 

Somethings do last but not everybody wants it. When making updates or replacements, consider cost, popularity, taste, and style. Natural stone in kitchens may be popular today, but who knows what a buyer wants or whether or not someone else will want what you choose today. When making selections, use your head and not your wallet. Just because something may appraise, it doesn't mean it meets with prospective buyer's satisfaction.

 

Age has a way of creeping up. What's in today, may be out tomorrow. For sellers, the burden of ones memories they leave behind is often harder than the cost of improvements. If you're selling, give it your best shot to present a well functioning home that appeals to the majority of buyers who are currently buying. According to "2018 National Association of REALTORS® Home Buyer and Seller Generational Trends, 65% of first-time home buyers are 37 years and younger, ages 38 to 52: 24%, 53-62:11%, 63-71: 6%, and 72-to 92: 5%."

 

 

Patricia Feager, 6/20/2018 - The areas I serve for real estates sales are: Dallas, Fort Worth, Flower Mound, Southlake, North Texas, Coppell, Grapevine, Lewsivlle, Argyle, Lantana, and all cities in the Metroplex. 

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 dfw fine properties

 

DFW FINE PROPERTIES

                                        2900 W Southlake Blvd, Suite 180
                                        Southlake, TX 76092
                                        Office: 817-748-4800/FAX: 817-748-4900

                                         Patricia Feager
                                                        Cell: 469-951-4758

                                                        Email: patricia.feager@gmail.com

 

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ertified RE Probate Specialist

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

  

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Rainmaker
2,742,376
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I’ve never heard that use that way about “being the cheese” like that. That’s a new one for sure!

Jun 20, 2018 10:50 PM #34
Rainmaker
2,742,376
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Pretty much a gold star, I would agree, but this is it all too common thing, I’ve noticed Endre Barath, Jr.

Jun 20, 2018 10:52 PM #35
Rainmaker
2,101,341
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent post and analogy! Every update I've ever made in any of my homes was done with resale in mind.

Jun 21, 2018 03:17 AM #36
Rainmaker
1,417,251
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Love your title. There are a lot of things to keep in mind as a home ages, especially when considering selling it! These are all great points for home owners and sellers. Thank you.

Jun 21, 2018 03:59 AM #37
Rainmaker
525,189
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Wallpaper is like a time machine, catapulting the home back into previous decades.

Jun 21, 2018 04:21 AM #38
Rainmaker
1,518,592
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Patricia, such a thoughtful post and I love the quote. Homes have to be maintained, nothing is new forever and putting off maintenance and updates sure costs more in the long run. I always think of resale when we make updates, learned about that from my parents at a very young age.

Jun 21, 2018 05:11 AM #39
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - It's always good to receive your comments. Thank you for visiting my blog post and adding thoughts to ponder. After living in Chicago and in Maine, I understand what you mean by ages of homes in Boston. I've been to Boston several times and was always intrigued by the blending of very old and new. Boston is a GREAT city!

In Chicago and Maine, I always loved Victorian homes and hidden spaces between bookcases and reading stories about these old houses. My parent's home where I was raised was built in 1887. I noticed it recently sold for 1M2 and was shocked! But of course, the investor who bought it after my mom died completely rehabbed it and rented for about 10 years before putting it on the market in 2018. After mom died, it became one of those historical buildings so the front looks the same; everything else inside is so different, I can't even recognize it. 

Here in my area in TX neighborhood dwellings are so much younger than major cities I'm familiar with and values are very different than other parts of the country too. Aging homes, unmaintained is definitely a problem for any place in good old USA. For it to survive, it has to be safe, functioning, and well maintained. 

Isn't it interesting how every part of the country has different homes, characteristics, and challenges? We are so lucky to be in this industry for every building, subdivision, location, and the people who lives there tells a story!

Make it a great Summer Solstice day! 

Jun 21, 2018 06:06 AM #40
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Endre Barath, Jr. - I was so happy too!!! Those gold stars are a real perk and a great motivator too! I wish many for you!

Have a wonderful first day of summer and Happy Solstice!

Jun 21, 2018 06:08 AM #41
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Laura Cerrano - I'm just an original, what can I say?

Have a glorious first day of summer!

Jun 21, 2018 06:09 AM #42
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Sharon Tara - What you do is wise. I'm very cognizant of what I choose when things need to be replaced, repaired or improved too. Nice and new, functioning too, but never over the top. 

I hope you're in your new home and enjoying settling into making it a very special Tara's place!

Happy Summer Solstice Day!

Jun 21, 2018 06:12 AM #43
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Kat Palmiotti - Whether one decides to sell or not, there's always something requiring maintenance. Material things will inevitably wear out and need attention. Waiting until one puts their home on the market is a big mistake, an overwhelming experience, and the work just doesn't seem to ever end. 

My mom & dad taught me at an early age to keep a savings account specifically for maintaining the home. It was the best advice I received!

Have a lovely Summer Solstice Day!

Jun 21, 2018 06:16 AM #44
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Dave Halpern - I agree! I see very little wallpaper in my area of North Texas. However, some homes have at the minimum wallpaper in the bathrooms or half baths. I have never had a buyer say, I want to buy a house with wallpaper. Have you?

Happy Summer Solstice!

Jun 21, 2018 06:18 AM #45
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Amanda S. Davidson - My parents owned property and I learned that lesson well too at a very early age. Your parents sound like they gave you good roots to grow and you have used every skill you ever learned to run and maintain your own business. I'm so proud of you and your success story!

Happy Summer Solstice - may the sun shine brightly were you are!

Jun 21, 2018 06:21 AM #46
Rainmaker
2,436,091
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Pat demonstrating her teaching qualities...

Jun 21, 2018 01:34 PM #47
Rainmaker
398,387
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Pat, this is a great view of real estate.

Age is always a factor, but it can be an attraction.

There are people who like the older style of homes and search them out.

The home owner must realize that consistent maintenance and some properly thought out upgrading will make their home  a "prize" for the right buyer.

Thanks for sharing.

Jun 21, 2018 03:03 PM #48
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Richie Alan Naggar - Simply trying to educate and inform. Thank you!

Patricia

Jun 21, 2018 07:10 PM #49
Rainmaker
1,981,897
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

John Wiley - Searching for the "prize," is something buyers do and each one has their own idea in mind of what they hope to win. 

John, I appreciate your feedback and knowledge in the real estate business. Whenever I look at pre-existing homes, I like to research what went on in history with regards to the economy when the home was built. If the economy was thriving, more than likely building materials were of better quality. So far, there seems to be a correlation. 

Thanks again, and have a wonderful day!

Patricia

Jun 21, 2018 07:15 PM #50
Ambassador
1,822,939
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Houses, like people, take care and maintenance. Tackling any issue when it pops up, and preventive measures go a long way in aging gracefully. D

Jun 22, 2018 09:41 AM #51
Rainmaker
382,523
Marney Kirk
Cummings & Co. Realtors - Towson, MD
Towson, Maryland Real Estate

Excellent post and analogy, Patricia! Some things do age gracefully - while others...do not. :) 

Jun 22, 2018 02:16 PM #52
Rainmaker
972,462
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent Patricia!  Very good advice.  Make everything functional, neutral, styles change and fade.  Maintaining what we have is very key.  One of my listings that is currently pending was so well maintained by the owners that it sold quickly, even though the finishes weren't as updated as others.  Care and maintenance go a long way!

Jun 22, 2018 08:54 PM #53
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