I built this house and love the features, why do I need to modernize it now to sell?
This is a common challenge from homeowners when the time comes to downsize after 20+ years living in their custom-built house where they raised their family. They meet with the real estate agent and are shocked by the suggestion they should invest money in updating a property they are leaving. The reality is that you do not need to make updates, but you will be at risk of losing equity or incurring months of carrying costs while it does not sell. Most sellers do not realize they should make the updates - most will have great return on investment and are not that hard to complete!
I know your house is full of memories, I can relate…
I grew up in a small town in Southeast Texas in the ‘70’s. I was only 5 when we built our family’s first new house in 1976, but I have random memories - Dad with the plans rolled out moving bedrooms, hours of reviewing books and books of wallpaper, and trips to the city to select brick – I had never seen so many wall sections of different brick – how to choose! Then we watched it being built. It was around the corner from where we lived so we could see every stage if it coming to life.
I have fond memories of that brick wall and corner fireplace with the hearth in the Great Room with the vaulted ceiling and sculptured green carpet – the backdrop for many birthday photos growing up. We got to help pick out the wallpaper – trendy bright orange, yellow, and chartreus green flowers in the kitchen that matched the yellow Formica countertops. The bathroom was similar yellow and green flowers that coordinated perfectly with the avocado green toilet and bathtub. I remember the wallpaper in my room had columns of girls in raincoats with umbrellas made of flowers that matched perfectly with the hot pink ruffled curtains and the chartreuse green carpet. I loved that wallpaper when I was 6 - of course, when I was 11, I had outgrown it. As much as I begged my Dad to change it, I was afraid I would graduate from high school with that same wallpaper! Luckily, we moved when I was 12 so that fear was not realized!
I am sure you have similar memories of the first house that became the home full of family memories. The features might be different based on the decade it was built and the trends at the time…possibly heavily wood picture frame paneled walls and trim, hunter green marble and carpet, or oak kitchen cabinets…and yes, 20 years from now barn doors will date your home!
As comforting as the features are while you live in the house, the day will come when you decide to move. Whether downsizing as empty nesters or building a smaller house after retiring, there will come a day when you need to sell.
What I learned from that first house is that avocado green toilets (or hunter green marble) are a problem for selling when the trend moves on…side note, this is a good lesson when you are making selections for fixed elements when building your new property, but that is another blog.
When the time to sell arrives, you realize that while you were raising your family and cherishing memories, housing trends have changed and now the new custom properties look nothing like your house. Believe it or not, time flies and the average home buyer is in their early 30s and they do not want a house that looks like the one they grew up in! While they might appreciate the craftsmanship that went into the details, they see dated features and do not want to live there. Like it or not, this is the reality – you need to make updates to appeal to the current buyers and sell your property so you can move on to your next phase in life.
Ten years ago, my parents knocked on the door of the house they built in 1976. They introduced themselves as the original owners and asked if they could see what it looked like 30+ year later. The homeowners graciously gave them a tour – they had been there for years and all of the dated finishes had been updated – the carpet, wallpaper, countertops, and especially the avocado toilet and bathtub, but the brick wall and fireplace in the great room was left untouched – still the heart of the home and as a backdrop for another generation’s memories and family photos.
The solution is to schedule a consultation with a professional stager early when you start thinking about selling, not when the time comes to sell because then you will be short on time to prepare your property to get the highest offer!
This is where Simply Modern Staging comes in…we know the key to selling your hous is modernizing it to appeal to the current buyer. We evaluate the condition of the property and complete a comprehensive action plan with recommendations for updates from paint and light fixtures to flooring and countertops that will result in the highest return when selling while preserving the integrity of the property for new families to make memories. As a point of reference, it is said that you should invest 1% of the home value every year for updates. So, a $300k home would need to spend $30K in updates if it has not been updated in 10 years! Do not panic, most homes have been updated over the years and we have solutions for updates to match all budgets and can prioritize to produce the highest return on investment. Once the updates are completed, we return for showcasing to arrange current furnishings (and can supplement as needed with additional artwork or accessories) for a fee to best highlight those features creating great photos to make the “must see” list for buyers to immediately make an emotional connection when they walk in the door resulting in an offer.
If you’re planning to sell and move into the next phase of life, contact Simply Modern Staging to help you create the action plan and identify updates needed for a quick sale so you can maximize the equity in your property.
www.simplymodernstaging.com