Do you have hidden money in your house? My Wilson County Blog

By
Real Estate Agent with Keller Williams

Do you have hidden money in your house?

Are you one of the many Wilson County residents that are hidding money in your home?

Sellers don't realize how much potential money they may be hiding in their houses.  I have listed and shown houses that have had so much more potential then they were showing.  Sometimes, in order to expose the hidden money, it requires some elbow grease and time.  Where the problem usually lies is the fact that not a lot of people are willing to put in the time it may take to reap the reward.

Hardwood floors

 It is so disheartening to me when I go to list a house and ask the seller about the possibility of hardwood being under the carpet to only have them say "yea, there is hardwood under the carpet, we just didn't want to mess with pulling it up."  My only response to that would be, "WHAT??????, that is hidden money!!!!!"  There are very few instances where it would not be feasible to rip out the carpeting.  For instance, if you know there are major stains from pet urine you probably will want to tackle that major undertaking.  Pet stains can cause permanent damage and require replacing some of the hardwood that would then lead to completely refinishing the floor.  If you have hardwood throughout your house, you now have a major undertaking because there would be no starting and stopping point.  It would all need to be refinished to have a cohesive look.  On the other hand, if the hardwood has a little wear and tear, that's what we call character in an older home. 

picture of a wallpaper

Another area where sellers have hidden money is behind the wallpaper and borders.  Unless it is the latest and greatest wallpaper, you will want to go ahead and remove it and paint the walls a nice neutral color.  When buyers see wallpaper that has been there for years, they think "dated" and "work."  Most markets are in a "buyer's" market right now and that means that buyers have a lot to choose from.  That also means that they won't settle and have NO problem moving on to the next house.  Very few buyers are out there looking for houses that need work.  They are looking for move-in ready.  Dated wallpaper does not equate to "move-in ready", it means work!  You want your house to reflect a clean, updated and ready to go look.

Look around your house and see what kind of hidden potential your house has.  Hidden potential equals hidden money!!!  There are so many great books and websites designed to help you find those hidden potentials.  Also, think about calling a Realtor who can make some suggestions on changes that are low cost or not cost that can expose your house's hidden potential!

Comments (2)

Susan Peters
Dove Realty Inc. - Seattle, WA
The Better it Looks the Better it Sells

Renee,

You hit the nail right on the head and it's not just a few bucks but thousands of dollars.

Aug 29, 2008 05:20 PM
Renee Arnott
Keller Williams - Mount Juliet, TN
Nashville TN Area Realtor

Thanks Susan, now if I could just get sellers to really understand that I could be the hero!!!

Sep 01, 2008 06:46 AM