value of additional upgrades to sell
We have a nice and fairly large home on a small lake. We may be in the position of selling it but having only been here two years we may be looking at selling for less than we paid (net net). While this is not financially a large issue for us it still stings... welcome to the club, right?
Anyway, the home is in need of some outside repairs and, according to a couple of realtors we have talked to, some interior upgrades as well.
The outside stuff will have to be done regardless so that's a fixed thing. On the inside, optional items include a full re-tile of the master bath (floor is already tiled but so-so), the rest (like tube and other areas) is not, granite countertops in the two other baths upstairs, the addition of crown molding to some rooms, and optional paint to some rooms. The most sticky about this is most of the basement, which we had repainted only last year in a light lime-green, the logic being it is a fun place (see SW's "Honeydew").
They are saying make it a warm color, etc. About $700-800 in paint just there. Perhaps $5-7K in tile and granite. And perhaps $1.5K in crown. About $1.5K in iron spindles on the stairs (currently a simple wood design).
(speaking of which, any recommendations for online shopping for iron balusters? Anyone tried the store in the link below?)
So... would it be worth it? The home is about 15 years old btw, has white faux marble on white cabinets in baths, and one of those composite shower and tub enclosures in the master. Somewhat dated. The competing homes vary, from the same stuff and updated at various levels including the full monty.
Perhaps $10-12K in discretionary upgrades (not counting what's required, about $7K, to push about $20K total plus about $4K in carpet, so $24). The home will price somewhere between $600-700K depending, and I know that's not a lot of optional expense as a proportion, but we already have some $35K in there now that we are basically kissing goodbye to. I should say that the likelihood we will move is maybe 50%, and if we don't move we could be here for anything from 2-5 years, perhaps even more.