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Any experienced real estate people here?

Confuzed1

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#1
I plan to move south in the next couple of years....possibly sooner. I know there's a lot of experience here on the forums from all back grounds, and I need to ask about preparing to sell a house.

Since I was formerly in the service, my current house is the first I ever bought - and that was around 20 years ago. I'm looking to relocate to out of the burbs to a much newer (maybe 2000 or newer maybe) house that is much more rural with maybe 8-10 acres of land (or more) with hopefully a nice big pole barn and a normal garage. Its about time to begin thinking about my forever home since I've now retired from my 2nd career. In your experience, what is the best way to go about doing minor ( a couple fairly major) remodeling to my existing house so I can get the most from it when I sell? OR - is it better to just sell a house as-is at a lower price and leave it up to the new owner?

Looking at tearing down a big pool deck in the back of the house, and either replacing it with a smaller deck or just replacing with a patio with pavers possibly. Not sure if I should replace the 18ft round above ground pool or just get rid of it altogether. Also, I'm sure the circuit panel will need to be replaced along with some additional electrical work.....just hoping the whole house doesn't need rewired. Sprucing up one bathroom and remodeling another.....but of course, I'm not looking to sink huge $$ into the house that I'll never get back when I sell.

What's the best way to go about this? We own the house outright as of a few years ago, but it was built in 1977....and it shows. Not a huge house, just a 3 bedroom ranch, about 1200ish square ft.

Are there people that specialize in, and know what potential buyers are looking for....someone like a "flipper" that also acts as a general contractor? Or should I not go that route and just hire sub-contractors on my own to take care of what I think I should put $$ into before I sell?

EDIT: On occasion, I also get mail from a couple companies in the area that are house flippers that claim they'll buy my house as-is. But I would be concerned they would just lowball me to death and not give me anywhere near what it's worth....
 
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#2
I'm no expert but I have renovated a couple of my own homes and done well, so I can st least pass my experience.

First thing you need to do is look at what houses of similar bed/bath/sq footage around you have and currently are selling for. Honestly, you can get a pretty good feel for that using Zillow or Realtor.com. Look at $/sq ft and that will help you determine where your house could realistically land.

As for renovations - they always say kitchen first, then bathrooms, then others as far as return on investment. However, they can get expensive quick.

Other things like new paint, new carpet, a backsplash in the kitchen, some added curb appeal, etc. will go a long way. You can have the nicest kitchen ever but if your curb appeal is terrible you'll have trouble just getting people through the door to look. The good news is, you can do most of that yourself and it's fairly inexpensive.

Be careful about full, down to the studs renovations prior to moving out. You may open a can of worms, i.e. electrical or plumbing that is not up to code, and now it's your responsibility to bring it up to code since you cracked into it.

Bottom line, it can get expensive quick and may not be worth it. I think things like paint and new carpet are almost always worth it because they're cheap and can make the home feel and show completely different.
 

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#3
I plan to move south in the next couple of years....possibly sooner. I know there's a lot of experience here on the forums from all back grounds, and I need to ask about preparing to sell a house.

Since I was formerly in the service, my current house is the first I ever bought - and that was around 20 years ago. I'm looking to relocate to out of the burbs to a much newer (maybe 2000 or newer maybe) house that is much more rural with maybe 8-10 acres of land (or more) with hopefully a nice big pole barn and a normal garage. Its about time to begin thinking about my forever home since I've now retired from my 2nd career. In your experience, what is the best way to go about doing minor ( a couple fairly major) remodeling to my existing house so I can get the most from it when I sell? OR - is it better to just sell a house as-is at a lower price and leave it up to the new owner?

Looking at tearing down a big pool deck in the back of the house, and either replacing it with a smaller deck or just replacing with a patio with pavers possibly. Not sure if I should replace the 18ft round above ground pool or just get rid of it altogether. Also, I'm sure the circuit panel will need to be replaced along with some additional electrical work.....just hoping the whole house doesn't need rewired. Sprucing up one bathroom and remodeling another.....but of course, I'm not looking to sink huge $$ into the house that I'll never get back when I sell.

What's the best way to go about this? We own the house outright as of a few years ago, but it was built in 1977....and it shows. Not a huge house, just a 3 bedroom ranch, about 1200ish square ft.

Are there people that specialize in, and know what potential buyers are looking for....someone like a "flipper" that also acts as a general contractor? Or should I not go that route and just hire sub-contractors on my own to take care of what I think I should put $$ into before I sell?

EDIT: On occasion, I also get mail from a couple companies in the area that are house flippers that claim they'll buy my house as-is. But I would be concerned they would just lowball me to death and not give me anywhere near what it's worth....
Whats the market like in your area? Is it multiple offers or months on market?
 

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#4
Right out of the gate I'd advise you to avoid the flippers - they will either low ball you to death (on a buy) or do shoddy work. Only way I'd get involved with someone like that was if I personally knew others they had worked with that were happy with the results.

As for all the remodeling you are planning, I'd say you probably want to avoid that as well unless you can DIY. You can bring in a lot more $$ doing the basics (paint, flooring, 'spruce up' the kitchen & baths, make the front look pretty etc.). Look around the 'hood - what are the other homes like ? Are they fully renovated/updated or are they more like yours ? NEVER over improve a place you plan to sell, it might sell quicker or for a little more, but you will not get all your $$ back ! In general you never, ever want to be the biggest/baddest house on the block or the smallest/crappiest ;)

As for the deck & pool, that too depends on the 'hood. Do the other houses have them, if so then it might pay to gussy it up, if not might be better to rip it out & fix up the yard nice.
Keep in mind, some ppl HATE above ground pools no matter how nice they are. When I see a house with an AGP, I always factor into what I might offer on the place the cost to get rid of it :unsure:

Net - be selective & spend lightly, don't over improve for the location but don't have the house look like :poop: either !
 

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#5
Right out of the gate I'd advise you to avoid the flippers - they will either low ball you to death (on a buy) or do shoddy work. Only way I'd get involved with someone like that was if I personally knew others they had worked with that were happy with the results.
What's wrong with flippers... :p

In my area... including myself... flippers do top notch work and make sure you have a home that will last another 60 years. We are a competitive bunch and all old school.

I am a GC as well as buy and turn investment properties (flip homes and entitled developments). My wife is a RE broker. I live on MLS evaluating property for real estate agents and appraisers.
 

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#6
What's wrong with flippers... :p

In my area... including myself... flippers do top notch work and make sure you have a home that will last another 60 years. We are a competitive bunch and all old school.

I am a GC as well as buy and turn investment properties (flip homes and entitled developments). My wife is a RE broker. I live on MLS evaluating property for real estate agents and appraisers.
Probably a location thing, lots of 'flippers' here who are outright scam artists and/or have no clue (or contacts) about how to actually go about most serious renovations.
Too many go to these stupid seminars & buy someone's book/DVD's and think they are like that Vegas dude, Scott Yancy :rolleyes:
 

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#7
Probably a location thing, lots of 'flippers' here who are outright scam artists and/or have no clue (or contacts) about how to actually go about most serious renovations.
Too many go to these stupid seminars & buy someone's book/DVD's and think they are like that Vegas dude, Scott Yancy :rolleyes:
I agree... that was the case here back in the day but it has since changed.

That Vegas idiot once caulked a nail hole from inside the attic to prevent it from leaking... he should have his license yanked and never allowed to hold a tool again.
 

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#8
I plan to move south in the next couple of years....possibly sooner. I know there's a lot of experience here on the forums from all back grounds, and I need to ask about preparing to sell a house.

Since I was formerly in the service, my current house is the first I ever bought - and that was around 20 years ago. I'm looking to relocate to out of the burbs to a much newer (maybe 2000 or newer maybe) house that is much more rural with maybe 8-10 acres of land (or more) with hopefully a nice big pole barn and a normal garage. Its about time to begin thinking about my forever home since I've now retired from my 2nd career. In your experience, what is the best way to go about doing minor ( a couple fairly major) remodeling to my existing house so I can get the most from it when I sell? OR - is it better to just sell a house as-is at a lower price and leave it up to the new owner?

Looking at tearing down a big pool deck in the back of the house, and either replacing it with a smaller deck or just replacing with a patio with pavers possibly. Not sure if I should replace the 18ft round above ground pool or just get rid of it altogether. Also, I'm sure the circuit panel will need to be replaced along with some additional electrical work.....just hoping the whole house doesn't need rewired. Sprucing up one bathroom and remodeling another.....but of course, I'm not looking to sink huge $$ into the house that I'll never get back when I sell.

What's the best way to go about this? We own the house outright as of a few years ago, but it was built in 1977....and it shows. Not a huge house, just a 3 bedroom ranch, about 1200ish square ft.

Are there people that specialize in, and know what potential buyers are looking for....someone like a "flipper" that also acts as a general contractor? Or should I not go that route and just hire sub-contractors on my own to take care of what I think I should put $$ into before I sell?

EDIT: On occasion, I also get mail from a couple companies in the area that are house flippers that claim they'll buy my house as-is. But I would be concerned they would just lowball me to death and not give me anywhere near what it's worth....
Different markets warrant different things so let's first determine what your hometown market is like? If you want to keep it private please feel free to PM me.
 

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#9
Hard to say without knowing what condition your house is in. You might need to get an appraisal for it as is and estimate how much more you can get out of it with certain improvements? It depends on how much you are up for doing? You can make the house more attractive for buyers by updating your bathrooms and kitchen. It is generally said that you can get your money back out of it when you sell for doing those updates. The other thing to consider is how old and what condition is your siding, roof, hot water heater and HVAC system? A buyer doesn’t want to buy a house and worry about replacing those things too soon after buying. We have been planning to move South for years and are in the middle of doing the same thing. We built our house in 1984, updated the bathrooms and kitchen 4-5 years ago, put in hardwood floors 3 years ago, new gutters 2 years ago, tore down our 34 year old deck and I built a new Trex deck in 2018, new water heater 5 years ago and are replacing our 18 year old heat pump tomorrow to a more efficient model with the latest freon. Still plan to paint 2 bedrooms and the laundry room. All those improvements should help us sell pretty fast at a pretty good price. The other thing you have to worry about is curb appeal. Good luck!
 
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Hard to say without knowing what condition your house is in. You might need to get an appraisal for it as is and estimate how much more you can get out of it with certain improvements? It depends on how much you are up for doing? You can make the house more attractive for buyers by updating your bathrooms and kitchen. It is generally said that you can get your money back out of it when you sell for doing those updates. The other thing to consider is how old and what condition is your siding, roof, hot water heater and HVAC system? A buyer doesn’t want to buy a house and worry about replacing those things too soon after buying. We have been planning to move South for years and are in the middle of doing the same thing. We built our house in 1984, updated the bathrooms and kitchen 4-5 years ago, put in hardwood floors 3 years ago, new gutters 2 years ago, tore down our 34 year old deck and I built a new Trex deck in 2018, new water heater 5 years ago and are replacing our 18 year old heat pump tomorrow to a more efficient model with the latest freon. Still plan to paint 2 bedrooms and the laundry room. All those improvements should help us sell pretty fast at a pretty good price. The other thing you have to worry about is curb appeal. Good luck!

An appraisal would definitely help. Also, have there been any houses that are similar to yours sold around you recently? If you know of any, and what they sold for, you could get an idea of a selling price. Appraisals take this into account when they are done as well. My wife works real estate law in our area. Her clients are mainly flippers. They definitely pay as little as possible for their flip houses.
 

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Maybe I misunderstood after reading some of the responses on here. I never thought you wanted to sell it to a flipper...

More looking for some advice on what may need to be done to have a competitive, move in ready home on the market.

Also would hope that any agent you will be using would know your value and what you should be coming out at.
 
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Thread Starter #12
Appreciate all the input!

I'm no expert but I have renovated a couple of my own homes and done well, so I can st least pass my experience.

First thing you need to do is look at what houses of similar bed/bath/sq footage around you have and currently are selling for. Honestly, you can get a pretty good feel for that using Zillow or Realtor.com. Look at $/sq ft and that will help you determine where your house could realistically land.

As for renovations - they always say kitchen first, then bathrooms, then others as far as return on investment. However, they can get expensive quick.

Other things like new paint, new carpet, a backsplash in the kitchen, some added curb appeal, etc. will go a long way. You can have the nicest kitchen ever but if your curb appeal is terrible you'll have trouble just getting people through the door to look. The good news is, you can do most of that yourself and it's fairly inexpensive.

Be careful about full, down to the studs renovations prior to moving out. You may open a can of worms, i.e. electrical or plumbing that is not up to code, and now it's your responsibility to bring it up to code since you cracked into it.

Bottom line, it can get expensive quick and may not be worth it. I think things like paint and new carpet are almost always worth it because they're cheap and can make the home feel and show completely different.
Sounds like good advice - thx. I think you nailed what I'm feeling about dumping a lot of $$ in the house that I won't see back. Honestly, if whoever wants to buy the house wants to discount a few grand off my asking price because the furnace isn't new....I'm OK with that. Better than me going through the hassle of contractors trying to up-sell crap at ridiculous prices and dealing with them running around the house while I'm living in it. Guaranteed I have some electrical work done by the previous owner that's not up to any code and needs repaired.

I was informed by a decking contractor that my current deck isn't even close to being to current code, and can only be rebuilt at half the size it is now. Then he gave me a "I don't want the job" price of 35-40K to build a deck. I just smiled and told him to have a nice day. I've looked at Zillow and Realtor for an "Estimated Price" ...and they vary one another by as much as 40K.

I can handle painting, cleaning and basic stuff but I'm not a contractor and don't want to play one in real life. I'll need to hire people that know what they're doing. The kitchen is probably mostly original from the 70's...oddly enough dark mahogany stained cabinets are coming back in style! But honestly it'll need some kind of updating or sprucing up at a minimum. Worse case scenario I guess would be a total gut job and 15K (at least) investment. There's always a bunch of things that could be improved on or repaired on any house this age, but I'm pretty certain it would cost a small fortune to make everything perfect. But - my house is a normal size for the area and has decent curb appeal which I can make better.
Whats the market like in your area? Is it multiple offers or months on market?
Right out of the gate I'd advise you to avoid the flippers - they will either low ball you to death (on a buy) or do shoddy work. Only way I'd get involved with someone like that was if I personally knew others they had worked with that were happy with the results.

As for all the remodeling you are planning, I'd say you probably want to avoid that as well unless you can DIY. You can bring in a lot more $$ doing the basics (paint, flooring, 'spruce up' the kitchen & baths, make the front look pretty etc.). Look around the 'hood - what are the other homes like ? Are they fully renovated/updated or are they more like yours ? NEVER over improve a place you plan to sell, it might sell quicker or for a little more, but you will not get all your $$ back ! In general you never, ever want to be the biggest/baddest house on the block or the smallest/crappiest ;)

As for the deck & pool, that too depends on the 'hood. Do the other houses have them, if so then it might pay to gussy it up, if not might be better to rip it out & fix up the yard nice.
Keep in mind, some ppl HATE above ground pools no matter how nice they are. When I see a house with an AGP, I always factor into what I might offer on the place the cost to get rid of it :unsure:

Net - be selective & spend lightly, don't over improve for the location but don't have the house look like :poop: either !
My house is "on par" with others in the area. Some look nicer than mine and some don't. I had the from re-sided and insulated 5 years back which helped a lot with curb appeal. The other 3 sides have the original 4" wide aluminum siding that either needs replaced or at least painted. Funny because I had a siding contractor look at it because a few pieces are dented and he said I should just keep what's on it since it can't be repaired (not sold anymore). There's a few overgrown bushes in front that need to go though.

The pool was here along with a spa when I bought it. I've replaced the pool once and now its time to either get a new liner for the pool or get rid of it. The only other house on the block has an in-ground pool a few doors down. It's really a stupid area for a pool since I'm just maybe 3/4 of a mile off Lake Michigan...so it is normally up to 10 degrees colder here than a few miles west....which seriously shortens the time it can be used unless you like 76 degree water till mid-summer.
Different markets warrant different things so let's first determine what your hometown market is like? If you want to keep it private please feel free to PM me.
Thx for the offer. I'm fairly sure housing in my area will increase in value. A gigantic company is being built about 8 miles from here and you may have heard of it...Foxconn. There's new townhouses and condos being built where corn fields used to be all over the place currently.
Hard to say without knowing what condition your house is in. You might need to get an appraisal for it as is and estimate how much more you can get out of it with certain improvements? It depends on how much you are up for doing? You can make the house more attractive for buyers by updating your bathrooms and kitchen. It is generally said that you can get your money back out of it when you sell for doing those updates. The other thing to consider is how old and what condition is your siding, roof, hot water heater and HVAC system? A buyer doesn’t want to buy a house and worry about replacing those things too soon after buying. We have been planning to move South for years and are in the middle of doing the same thing. We built our house in 1984, updated the bathrooms and kitchen 4-5 years ago, put in hardwood floors 3 years ago, new gutters 2 years ago, tore down our 34 year old deck and I built a new Trex deck in 2018, new water heater 5 years ago and are replacing our 18 year old heat pump tomorrow to a more efficient model with the latest freon. Still plan to paint 2 bedrooms and the laundry room. All those improvements should help us sell pretty fast at a pretty good price. The other thing you have to worry about is curb appeal. Good luck!
Gas furnace was here when I bought it 20 years ago. I replaced the squirrel cage fan and motor in it a couple years back. It's a high efficiency and except for the fan its been flawless. Water heater is old (12 years) and will need replaced.
New roof and additional roof vents added about 5-6 years ago. Garage was re-roofed about 8 years ago. It's 18.5' wide x 42' deep and will fit 3 cars and my boat with no issues....but - when I bought the house I had to sign "non conformance" papers on the garage because its too big for this area and cannot be rebuilt as-is if anything happens to it....in other words, can only be replaced with a standard 2 car garage.
 
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Thread Starter #13
BTW, I'm not looking into selling to a flipper.....there's a couple outfits, one of them that say "we buy ugly houses" that send stuff in the mail fairly often. I don't have an ugly house and they send it to all the houses in the area!!
 

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The reason why I asked is that is a great starting point on determining what you need to do to sell the home.

Sounds like you got this handled.. GL with the sale and hope you get top dollar. (y)
 
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Thread Starter #15
An appraisal would definitely help. Also, have there been any houses that are similar to yours sold around you recently? If you know of any, and what they sold for, you could get an idea of a selling price. Appraisals take this into account when they are done as well. My wife works real estate law in our area. Her clients are mainly flippers. They definitely pay as little as possible for their flip houses.
My old neighbor sold his house a few years back, and I was surprised by how much it went for. My house is in better shape than that. Unfortunately, the people who bought it...my current neighbors...are not keeping very good care of it......another reason I should move along.
 
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Thread Starter #16
The reason why I asked is that is a great starting point on determining what you need to do to sell the home.

Sounds like you got this handled.. GL with the sale and hope you get top dollar. (y)
I'm kind of assuming home values will go up in the area since this huge company is being built fairly close. Seems developers are counting on an influx of condo and town home buyers. I'm hoping that they'll be people that would rather have a house - even an older one like mine - rather than a new condo or townhouse...
 

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#17
I would fix any "eyesores" or known issues that would detract a buyer. Just the perception of an issue to most buyers will have them walking out the door and looking at other houses.

Paint - do it all yourself. I have used many paints on the market, varying from $20/gal to $100/gal and I think the Homedepot deals on Behr paint is pretty good. It's easy to work with, priced ok, and seems to hold up well. Spend some time online looking for "inspiration" when it comes to color and apply many samples to the walls. The trick is to find the right amount of contrast and compliment for each room. I had oak trim and oak doors in my last house, so finding the right color to work with the oak took a while but really paid off.

Flooring can be inexpensive as well. Ive used tile but i like stuff like Pergo Outlast Plus. It goes down easy, relatively inexpensive, looks great, and will withstand water/dogs/UV/etc..

Carpet - if it's old, put some new stuff in. Again, I've used HD a few times im the past and plenty happy with their products and price.

Kitchen - a little can go a long way. Again, focus on complimenting what you have. Probably not worth changing or painting cabinets (can be very difficult to paint oak cabinets) but simple things like updated pulls and hardware can refresh them. Countertops like quartz are fairly inexpensive and look great, pkus are super functional. A backsplash can be cheap and easy too (or expensive and a pain in the ass if you choose glass tiles). If you do countertops, do them before the backsplash. Even new appliances can be had for a few grand.

The key is making it all work together. Try to carry a theme throughout your house. Don't make each room feel unique and different, that's always odd.
 

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#18
I read just enough of this to catch two things:

@tkracing1 is a GC :unsure:
Somebody referenced "We buy Ugly Houses" :eek:

Yeah, at 60-70% of market value... My buddy checked in with them and then we laughed about it.


My bet is that you're not that desperate...
 

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