Home Sellers And Buyers Will Often Disagree About Needed Updates


Home Sellers And Buyers Will Often Disagree About Needed Updates
By Scott Rogers • October 29, 2024
A homeowner selling their home, especially if they have lived in it for a while, is often likely to only see small updates that might be needed in the home - and would likely describe them as elective... maybe a buyer might change out the carpet eventually maybe a buyer would re-paint a room or two maybe a buyer would replace a few light fixtures But a potential home buyer considering a purchase of that same house might see things quite differently... the kitchen is about 25 years old and while it looks OK, I would probably want to remodel it the bathrooms have been freshly painted but are quite dated and I would want to remodel them all of the flooring will need to be replaced in the next year or two and I'll likely have to repaint the entire house I'm not here to say that either party is right or wrong - I understand where the seller is coming from (the house doesn't need many updates) and where the buyer is coming from (I would want to make lots of updates). The challenge, of course, is when all of this is converted into pricing. A seller will likely price (value) the home higher given their minimal view on needed updates. A buyer will likely value the price at a lower price point given their broader view on needed updates. Receive Updates by Email Recent Articles: Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer We Will Likely See Fewer New Listings Over The Next Few Months
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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