Lifestyle & Retirement

Dad Died: Fix Up His House To sell it?

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QUESTION:
My mother died about 5 years ago and my father had been in a nursing home for about 2 years before his recent death.  I made sure that very basic maintenance was done on his house – but there has been no updating done.  The house is about 50 years old and the kitchen was redone about 25 years ago – and that’s it.  I want to sell the house and in this competitive market, do you think it makes sense to spend the money to update it?  If so, what areas should I concentrate on?


ANSWER:

The first thing you should consider is having a real estate broker take a tour of your house.  This professional will be able to walk through the house with an impartial point of view and let you know what specific items need the most attention according to your market.  There are many variables here and before you spend money on updating, find out what is important for this particular house and location.  Kitchen and bath renovations are very expensive investments for homes.  They also can be "personal" in taste.  I find it is best to clean up the main areas and remove personal items, such as photos and memorabilia.  Keep the rooms looking spacious and clean so prospective buyers may enter the home and able to visualize their style and furniture there.  You may also need to use a fresh coat of paint on walls and woodwork.  Also, if carpets/flooring are tired or stained, you may want to put a careful budget together to refresh these items as well.  As for the major renovations, most buyers may prefer to renovate on their own.  Deborah Carducci 

 

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