What upgrades are worth doing?

**Seller** · 11-19-2011, 08:06 AM

I own a 2,800 square foot, 2 story, 4 bedroom, 4 bath house built int the 1960s. Unfortunately it looks like the 1960s. The blue and/or pink toilets with matching tile, the worn ranch window casings and trim, and the bright brass door knobs, and hinges. We are thinking of moving in about 2-5 years, so I'm wondering what changes I should make, if any, and what returns on my money I could expect. Such as:

Should I replace all or some of the trim with Mission style wide trim on the windows and baseboards? That will probably be about $3.00 a running foot if I do it myself.

Should I add crown moldings on some of the ceilings? If so, just the living and dining rooms?

How about replacing all of the hinges and door knobs with something other than bright brass? If so, what would be a classic finish that won't go out of style and will be "neutral" and not too far out there.

How about new tile in just the master bath? I could replace some of the blue tiles and regrout, but I'm wondering if new tile might pay off. I can not appreciably change the bathroom size of configuration since it abuts the other, shared bathroom on the wall where the plumbing is. Wondering about new tile, sink and granite counter, or should I just repair the existing tile and leave the fixtures?

I'll be doing all of the work myself, but I'm wondering what makes the most sense regarding return on my investment. Any help or insight is appreciated. Thank you.

**CC Lifestyle Realty** · 11-21-2011, 12:35 PM

Our company is involved in flipping foreclosures. That usually involves the purchase of an older home that is in very bad shape. We have done this for almost 15 years and our system has been successful. With that said here is my recommendation.

First, older style paint must be replaced with something more modern. Any wallpaper must also go. Leaving these will tell any potential buyer they are purchasing an older home that has no updated features. Never a good first impression.

Second, Kitchen upgrade. Formica style counters need to go. You can upgrade to granite at a very reasonable price. Stainless appliances not 100% required but low end Stainless still shows and sells better. Return for kitchen upgrades is always better than one-to-one depending on location and market conditions. A $5000 upgrade can increase selling price by $10K or more. I would also change the cabinet doors and fixtures to something more modern depending on how they look.

Third, change most fixtures throughout house if they are clearly dated. Lights, door handles, etc. can be done very easily and cheap. Return is generally one-to-one on that type of modification.

Fourth, carpet must go depending on type and age. Shag is an absolute NO NO! No need for highend carpet but the cheapest of cheap also not a good idea. This upgrade is generally one-to-one.

Fifth, paint or improve the exterior of the home if there is mold, chipped paint, rust, etc.

You can do all the above for less than $10K and it generally improves the overall value around $20K depending on the market and original cost of home. Again, it depends on where the house is located and the value of the original home. You can't just buy any run down shack and sell it with improvements. My advice is to find a real estate agent in your area that has experience in renovations and upgrades. They will have better numbers and information than anyone on this board.

**clemy** · 12-08-2011, 04:40 PM

Go to several open houses. Look at a couple that would be in the price range below your house, a couple in your price range, and a couple above your range. What do they look like? What features do they have? It is all well and good for someone to tell you to shell out for granite counters and stainless steel appliances. That might be what it is like where they live/work. But high-quality Formica works just fine where I live unless you are in the gated communities. What you want to know is what is normal for your area. If you over-improve, you will not get your money back. Most people will not pay extra for your house just because yours is fancier than another for sale in the same neighborhood. They will buy the less expensive house because they don't value the extras. However, they will want to pay less for your house if it doesn't have the features other houses have, but getting them to pay more is very dependent on finding the one person who really, really, wants what you have.