Sell 80's home "as is? or renovate first?

[Anonymous]

We just bought a 1950s home in a W school district as-is from the original owners, for 100k over asking. It is clean and well-maintained but not updated. There were still a dozen offers.

[Anonymous]

I would always rather pay less and update to my liking. I don't want to pay for a fancy new kitchen that I didn't pick out.

[Anonymous]

Anonymous wrote:I would always rather pay less and update to my liking. I don't want to pay for a fancy new kitchen that I didn't pick out.

This. When we were looking there was a home in our target neighborhood and price that had a brand new kitchen. Problem was that the kitchen was not done well and had the range top right next to the sink among other issues . I just couldn’t bring myself to bid on a house with a new kitchen that I hated. If the kitchen was outdated we could have redone it the way we wanted to.

It was an estate sale and I’m sure the kids thought they’d maximize their return by redoing the kitchen but it went the opposite way. The house sat for months and ended up going for $40k under their asking price.

[Anonymous]

Selling right now is worth so much over selling in October, renovated or not.

[Anonymous]

Definitely not. You will not get that money back.

[Anonymous]

Paint and declutter, that’s all you need to do!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Why haven't you been renovating and updating every 10 years, you are bad pushing this off to younger generation

Every so often I see the strangest world views reflected here. I didn't realize that...not majorly renovating a home you lived in for 40 years was some sort of moral offense.

I think it’s entitlement or clueless people.

Op, I don’t think you should update. Sell it as is and price it accordingly. You save yourself the headache of a renovation and lost income. Someone with the money and vision gets to update to their liking.

Fwiw, this is also my parents' plan for our childhood 1980s home.

[Anonymous]

We never updated the beige/pink/light wood 1990 kitchen in our old house and still doubled our value, in line with the rest of the neighborhood.

[Anonymous]

Fresh paint (including cabinets) and new hardware (door and cabinet knobs, door hinges, outlet covers, sink faucets, etc.) + new appliances will go a long way towards making your house look updated. Do not renovate, it's not worth the hassle and you won't make back what you put into it.

[Anonymous]

Anonymous wrote:Fresh paint (including cabinets) and new hardware (door and cabinet knobs, door hinges, outlet covers, sink faucets, etc.) + new appliances will go a long way towards making your house look updated. Do not renovate, it's not worth the hassle and you won't make back what you put into it.

I agree with most of this. I wouldn't paint the cabinets (expensive and might get ripped out anyway) and wouldn't replace the door hinges, knobs, or outlet covers but fresh neutral paint, refinish floors or new carpet, and I'd swap out light fixtures.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Fresh paint (including cabinets) and new hardware (door and cabinet knobs, door hinges, outlet covers, sink faucets, etc.) + new appliances will go a long way towards making your house look updated. Do not renovate, it's not worth the hassle and you won't make back what you put into it.

I agree with most of this. I wouldn't paint the cabinets (expensive and might get ripped out anyway) and wouldn't replace the door hinges, knobs, or outlet covers but fresh neutral paint, refinish floors or new carpet, and I'd swap out light fixtures.

PP again. A quick refresh versus a renovation.

[Anonymous]

Anonymous wrote:Why haven't you been renovating and updating every 10 years, you are bad pushing this off to younger generation

its there house they can do what they want. no one is forcing you to buy it

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why haven't you been renovating and updating every 10 years, you are bad pushing this off to younger generation

its there house they can do what they want. no one is forcing you to buy it

Thanks, this is OP and we lived in it for 12 years and moved to an updated home because we did not want to live through a kitchen and baths renovation. Other than 1980s kitchens and baths, we (and our military tenants) have kept it in really in very good shape (new roof, new HVAC, recent appliances, great hardwood floors, nice landscaping, etc).

I would not have to live through the bathroom and kitchen renovation and really am just trying to gauge whether replacing a 40 year old kitchen and baths with nice new ones before a sale will more than pay for itself (as it appears to have worked with neighbors recent sale of a similar house).

[Anonymous]

OP, usually renovations don't pay for themselves. You would just be engaging in speculation that they might here (based on your neighbor). If you like projects and have the financial security to make a speculative gamble, you could give renovating a try. Personally, I would just make sure it is in good shape but not update. For example, fresh painting of the walls, replacing worn carpet.

[Anonymous]

Another vote for skipping renos and just painting and “polishing”.

If you have carpet with hardwood floors underneath, consider removing the carpet and getting the floors refinished.

Clean up any over the top/dated window treatments.

Consider LVP in the basement only if the current floor is questionable/gross.

Other than that, leave it as is.

You’ll be more likely to get a buyer who can afford something more expensive, but wants to renovate to their tastes so won’t be as particular about certain things, so I would think selling it would be easier than finding a buyer who is looking for a turn-key, but has a certain aesthetic in mind.

So the goal is to show it has good bones and is livable for a little while at least.