Mint Hill home needs updates

Dear Rich,
Our house in Mint Hill has been on the market about 30 days. We are confident that it will sell soon, but we are getting feedback that the house looks “dated.”

Do you have any ideas on how to modernize the house without going overboard? We don’t mind making a few purchases to stage the house or give it that more contemporary look, but we also don’t want to spend our down-payment money on trying to get this house sold.

We are just looking at some first-line ideas to give the house a fresh, (and inexpensive) face-lift.

Marianne M.
Mint Hill
Charlotte, NC

Dear Marianne -

Finding an easy and inexpensive way to giving a room a more modern look is not hard. For less than $100, you can completely transform the look of a room—all you need is a weekend and a screwdriver!

Prospective buyers may make a judgment on your house if you haven’t taken the time to modernize—and that is to your detriment. While it may be just as easy for the new owner to do this things, it is always a good idea to do the work yourself if you can. I have seen buyers walk away from a perfectly good house, just because of decor or the fixtures--it just makes the house look "old" - and no one likes "old".

So here is what I recommend: If you have already put a fresh coat of paint up, and decluttered then consider some new fixtures.

New drawer handles or knobs can cost little as $2 each—less even if you buy them in packs. So check your bathrooms, kitchen, built-ins, etc. for places you can update. Remember to keep it simple. Clean lines, and simplicity sell.

And while you are at it, check the sink and bathroom faucets, sinks and toilets. These may be another easy update that will keep buyers interested. In my experience, you will always make your money back (and sometimes then some…) on updates to kitchen and bathrooms! So think of it as an investment. Feeling especially handy? You might also try updating any ceiling-mount light fixtures or doorknobs—but again, keep it simple!

Rich Ferretti
Buyer's Agent - Charlotte
rich@richferretti.com

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

What Upgrades Should I Do on a New Home?

Dear Rich,

We are buying a new home in Charlotte, NC and we are not sure what upgrades we should do in terms of what will hold the most value for the house in the future. Or is it better to just add square footage to the home – adding something like another bedroom or a sunroom. Your advice is appreciated!
Sonny – Charlotte

Dear Sonny – the right answer is that there is no right answer! It depends a lot on what you do, how well you do it, and where you are in terms of location. Also, are you buying this home to live in, or is it instead an investment property? Generally upgrades to a home are more for the comfort and happiness of the residents. They rarely give the home significant additional value. That said, an updated/upgraded home may be more attractive to buyers later on when you go to sell.

If you are looking at this home as an investment, then do minimal updates to keep the house current, but don’t go wild with trendy things and extras. Think basic, clean and “blank slate.” However, if the house is going to be your home, think about what will make you happiest—Bathrooms and kitchens often add the most value, and make a house more attractive to you and later buyers and increase your quality of living—but they are also the most expensive!

I almost always recommend upgrading the carpet and the carpet padding. The builder’s grade carpeting generally wears very quickly and is of low quality. It shows stains and looks old fast. If the house was previously owned, then it is always nice to start fresh with something brand new and free of the previous owner’s dog hair, stains, dust, etc. New carpet just always makes a house look better and cleaner, and it is an easy and relatively inexpensive update. (For the record, as a real estate agent trying to sell a new home, I will often recommend that the seller put in new carpet before the house is shown!)

Other great updates are things like landscaping, a new front door, or windows—especially on older homes.

As for your question on square footage, it is always nice to have more, but be careful when you add onto a home to get all appropriate permits and hire a professional contractor. This is one of those things you want to do right—so don’t skimp. However, also don’t expect to necessarily get your money back when you resell. Depending on what you do, the other homes in your neighborhood, and your location, this may be one of those things you do because it will make YOU happier living in your home, not because you will make money off of it.

Bottom line, if you have a limited budget think about the things that will make the biggest impact for the least amount of money: carpeting, paint, moldings, windows, landscaping, closets. Then think about those bigger upgrades: the deck, sunroom, kitchen remodel, bathrooms, etc. Remember if this is your home, you have to be happy here!

Enjoy Charlotte! And please let me know if you would like my recommendations on specific trusted home improvement vendors in the Charlotte area.

Rich Ferretti

Want more information about the Charlotte area real estate market? Check out www.richferretti.com