Quote:
Originally Posted by johnny_on_the_spot
In this market do you think this added any additional value or the lack of doing it reduce any value? I would guess the answer is probably ‘no’ to both
there is always a large group of people willing to pay a premium for move right in/nothing to do/perfect as is. Those people don't want to see anything old in terms of paint, imperfect timber/iron etc. And additional small things can make a significant difference with them...nice large house numbers, modern well kept mail boxes etc etc...things that handy, practical people like you think of as tiny/unimportant/easy fixes can make a huge difference to buyers who are paying for a 'perfect feel'
prices in our area have gone up more than 30% in the past year. We decided to get a valuation done by two separate agents. Both gave us a conservative valuation of a lot more than double what we'd paid 8 years ago, but both also told us variations along the same theme, which was that if we spent approx $100k, we'd likely get an additional 3-400k at auction, because we'd get the 'omg it's perfect, nothing to do' Princessy buyers.
interestingly, both said upgrade the doors, windows, polish the floors and paint inside and out... which was what we'd have expected. Both also said that changing and modernising the light fittings was a key thing, which wasn't something we'd have thought of. Apparently light fittings are a hidden 'how nice a house is this?' indicator, which I'd never have guessed.