There are a few odds and ends I still need to do to our house before I can call it finished and be ready to sell in a few years. I'm nearing (or already there) the point where I won't gain back what I'm putting in, so these are going to be relatively low budget improvements. The problem is I can't decide what would be more attractive to potential buyers and hopefully push them over that edge of indecision (if it comes down to that). My three choices are: Insulate and finish the garage (obviously adding some shelving/cabinetry) Finish wiring the barn (I have a 100A service run and one GFCI outlet in place, I just need to run more lines and conduit) and finish insulating the other half Do nothing :D From a pure time and money standpoint, the barn project would be easier. However, I've already done the hard part for most people (dug the trench, fished the lines, installed the panel, drove the ground rod, hooked up to the interior feed, etc). All someone has to do now, is hang conduit and boxes, and install the outlets, switches and lights. The garage, however, always seems a little unsightly being unfinished. I feel like putting in some R13, some sort of sheathing (even drywall) will help brighten up the appearance. Shouldn't be overly costly. Of course, there's always the do nothing approach and just hope the home sells itself as is, and people look past those things. Thoughts? I know Frenchbritt is in real estate, but I know many of you have bought and sold homes along the way. What are your opinions? Would love to hear them.
Some people would want it finished, you don't want to turn them away. I would finish the barn with a 6 pack of beer.
Do nothing! The options on your list will not gain you anything. Insulation is expencive and IMO will not make or break the sale. If you must do somwthing, finish the garage without insulation. It's not code on exterior walls in a garage.
If that is the case then the answer is very simple. Do nothing. I don't think either of the other 2 things you mentioned will make a single bit of difference in the sale of the house. Let the other guy take on those projects if he chooses to. I dont' think a more outlets in a barn or a finished garage will be a determing factor at all. 95% of their attention is going to be where they live. Remember it's not going to be yours anymore. Save the money for your projects at your next house IMO.
Financially your best bet is to leave it alone. I wish I would have followed this advice before we sold our place in NY.
I would do both if they are going to improve your enjoyment and or use of the space while you remain there. It sounds like both of these would be on your radar if you were thinking of staying permanently. Neither of the projects you described seem so cost prohibitive that you should worry about resale either way. You stated you plan on selling in a few years. That's pretty nonspecific of a time frame. Enjoy it while your there.
Oh yeah, I forgot. My driveway is also in terrible need of repaving. That's easily the most pricey item, but adds to the curb appeal. Sent from Samsung Galaxy Note 10.1
Hard to say what a buyer would or would not buy. I would finish the garage first and pave the driveway. Barn would be last with the work you have already done.
It's usually dollars that get them off the fence. Knowing everything else is ready for the sale and you are not going to be able to maximize any more of the dollars that you add I would do nothing more to the home. I would save the money. Things to think about: Home inspection and radon inspection before it gets market exposure. Figure out who does most of the work in your area and hire them to do a home and radon inspection. Know what you are up against before deciding a contract price. Know market time. DOM is days on market. Use this as one way to figure out how things are being handled with your sale. If DOM is 90 days and you have no looks or offers at 100 days something is wrong. Price, marketing, etc. Do not become stale. Even if money or holding time is not a problem to maximize it could still create a stigma. Know sales price list price ratios. Sure lean on a broker for this, but it is not hard to figure out in an active market if you should be adding 2% or 10%. Numbers matter. Before you even begin the process try to remove your love from the home. It does not matter to the buyers that you have sweat and blood there. Focus on worst case offers. This is not negative thinking. It is being prepared. Understand your home has a fair market value range and that is derived from a snapshot in history. Find a good attorney. Selling costs. Commission is expensive, but it is illegal to set a commission rate. Negotiate the rate. Splits do not have to be even either. Selling agent at 2% and buyers agent at 3 or 4% is thrown around a lot more than you would think. Think about it, who do you really want to see that carrot in front of them? As I have mentioned in previous posts. I work in real estate and this is in no way advice, I am just giving helpful hints. I have no idea what your local market is like or your laws and regs.
Good "hints" frenchie.....i do find it funny that you come with a disclaimer....good stuff....nature of the beast eh:D Sent from my SAMSUNG-SGH-I337 using Tapatalk 2
Thanks. Good information. I have already installed a radon mitigation system:D Sent from my Samsung Galaxy S4.
