Renovation budget before listing

[Anonymous]

For a $1.5 million house, what is a reasonable renovation budget before listing? House was built in the 1970s and has many updates, but the baths are dated.

[Anonymous]

I think you either do very little (clean, easy repairs, paint, mulch) or you renovate the whole thing. The middle ground is expensive with poor returns. But you need to ask a few agents in your neighborhood with good track records.

[Anonymous]

Anonymous wrote:I think you either do very little (clean, easy repairs, paint, mulch) or you renovate the whole thing. The middle ground is expensive with poor returns. But you need to ask a few agents in your neighborhood with good track records.

I very much disagree with this. Depending on the specifics it may involve painting, certain flooring options. My elderly relatives' estate house was in good shape and some updates, but had 1950's green tub and tile - it got re-glazed white and you would never know.

This was right in the DC area, though not super-hot for teardowns in the immediate vicinity. The house itself was good and in solid shape.

I had been thinking I would like this type of update to my house myself several years into living here - though I have no intention of moving. It was an eye toward the "low hanging fruit" of a low budget and getting bang for your buck on widely-appealing renovations.

[Anonymous]

Update the baths. A typical full bath update costs $10k and a half bath $5k. Making these updates will significantly increase the appeal of the house.

[Anonymous]

If you’re in a hot market then just clean, paint and price accordingly. If houses in your area are slow to move then you can consider doing more extensive updates.

[Anonymous]

We changed our kitchen hardware and updated bathrooms; totally worth it but I agree with both 23:39 and 1:49.

[Anonymous]

Anonymous wrote:I think you either do very little (clean, easy repairs, paint, mulch) or you renovate the whole thing. The middle ground is expensive with poor returns. But you need to ask a few agents in your neighborhood with good track records.

This is bad advice. The realtor will tell you to do some work even if you lose money by doing it. Realtors just want to make it easier to sell your house. They couldn't care less if it nets you less money in the end.

It rarely works out to net you more money by doing renovations to sell. Just declutter, fix broken things, touch up paint, and paint any rooms that are colors that won't appeal to the masses. Then do a deep cleaning before listing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you either do very little (clean, easy repairs, paint, mulch) or you renovate the whole thing. The middle ground is expensive with poor returns. But you need to ask a few agents in your neighborhood with good track records.

I very much disagree with this. Depending on the specifics it may involve painting, certain flooring options. My elderly relatives' estate house was in good shape and some updates, but had 1950's green tub and tile - it got re-glazed white and you would never know.

This was right in the DC area, though not super-hot for teardowns in the immediate vicinity. The house itself was good and in solid shape.

I had been thinking I would like this type of update to my house myself several years into living here - though I have no intention of moving. It was an eye toward the "low hanging fruit" of a low budget and getting bang for your buck on widely-appealing renovations.

A friend of mine bought a home that had this done in one of the baths and another had been "renovated." Within the year it became clear the plumbing needed updating/redoing so everything had to be torn out and redone including the plumbing.

I don't think you should renovate baths unless the plumbing is fine or you redo the plumbing. People especially first time homebuyers seem to forget about what is behind the walls. We redid it, but knew (thankfully) there was an issue and put that into our offer. Always think about that when buying an older home!

[Anonymous]

Anonymous wrote:If you’re in a hot market then just clean, paint and price accordingly. If houses in your area are slow to move then you can consider doing more extensive updates.

This is the right answer.

[Anonymous]

OP here. On the main floor we have a mix of flooring types - wood, carpet, and vinyl. The stairs are carpet. Would you make the flooring in all these areas consistently wood if you could do it for $10k?

[Anonymous]

Anonymous wrote:OP here. On the main floor we have a mix of flooring types - wood, carpet, and vinyl. The stairs are carpet. Would you make the flooring in all these areas consistently wood if you could do it for $10k?

Yes.

Some other items to consider are new appliances, paint, and light fixtures.

[Anonymous]

Anonymous wrote:Update the baths. A typical full bath update costs $10k and a half bath $5k. Making these updates will significantly increase the appeal of the house.

In DC?

We are paying 30K per bath and not moving anything to a new location!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you either do very little (clean, easy repairs, paint, mulch) or you renovate the whole thing. The middle ground is expensive with poor returns. But you need to ask a few agents in your neighborhood with good track records.

I very much disagree with this. Depending on the specifics it may involve painting, certain flooring options. My elderly relatives' estate house was in good shape and some updates, but had 1950's green tub and tile - it got re-glazed white and you would never know.

This was right in the DC area, though not super-hot for teardowns in the immediate vicinity. The house itself was good and in solid shape.

I had been thinking I would like this type of update to my house myself several years into living here - though I have no intention of moving. It was an eye toward the "low hanging fruit" of a low budget and getting bang for your buck on widely-appealing renovations.

You can definitely tell if a bathroom has been “reglazed.” If I’m looking at a house, it means I’m budgeting to redo that bathroom.

[Anonymous]

Anonymous wrote:Update the baths. A typical full bath update costs $10k and a half bath $5k. Making these updates will significantly increase the appeal of the house.

omg you guys a ghost from 1998 is posting on dcum

[Anonymous]

Anonymous wrote:OP here. On the main floor we have a mix of flooring types - wood, carpet, and vinyl. The stairs are carpet. Would you make the flooring in all these areas consistently wood if you could do it for $10k?

I think it depends on if buyers are still going to see the house as due for a full renovation