May 04, 2011

Sellers: Fixer Uppers Are So Passe!

It's not too surprising, really, what with buyers having lots of leverage in the real estate market, and probably working hard to save a buck (or thousands of 'em) for a down payment: Fixer-uppers just don't have the allure they once did.

Big fixer upper.jpgIn fact, a recent Coldwell Banker survey (reported on in the International Business Times article, "Buyers Bypass Fixer-Upper, Want Move-In Ready") found that 87% of home buyers are looking for a move-in ready home.

Not only that, agents say that buyers are willing to pay extra -- or overpay -- to avoid the responsibilities that come with a home in need of repair.

That brings sellers back to the perennial question of, "How much fixing up is enough?" Do you need to simply patch the cracks, replace some roof shingles, and repaint, or is it time for a complete overhaul, or at least a remodeled kitchen or bathroom?

Definitely start with the basics. But before doing any major remodeling -- which you won't even get to enjoy, if you're planning to sell soon -- consult with your real estate agent and check out the advice in Nolo's article, "Do Home Improvements Really Add Value?"