Tracy Ellis

Real Estate Magazine

Buying and Selling Edition 2

Thinking of Moving, Should you Update your Home or Not?

This is a very common question and one of the most important things if you’re an owner of a luxury home.  Do not try to “save money” by refusing to update the interior of your luxury listing.  This strategy can work with lesser-priced homes, but it almost guarantees that a luxury listing will not sell.  Or, even worse, it will sell at a bargain, lowball price.If you have outdated carpets, replace them with new carpet.  If your walls are adorned with early 1990’s floral wallpaper, get rid of it.  If your appliances were brand new when you moved in 1995, they aren’t new anymore.  Get new ones!

If you have brass light fixtures or plumbing fixtures, please replace them with bronze or brushed nickel!  Buyers of luxury homes will not tolerate anything that is outdated. I mean, think about it: would you shell out a half a million or more on a home that will immediately require $50,000 of upgrades?  Again, the reason isn’t mathematical. It has nothing to do with price. Most affluent buyers that can afford a $500,000 home could just as easily afford a $550,000 home.  So it’s not the extra expense of replacing old, outdated appliances, carpet, fixtures, etc.  It has to do with convenience.

Buyers don’t want to worry about the stress and time involvement of managing an interior renovation.  It’s fun to watch on HGTV, but it’s pretty stressful in life.So basically, if your home’s carpets, appliances, countertops,fixtures, wallpaper, or paint colors are outdated, it’s not their problem.  It is yours.  So if you know that a particular part of your home is outdated, fix it before you list the home for sale.  If you don’t, it may be a long, long time before your listing sells, if ever.

Please call me or a member of The Tracy Ellis Team before you start making updates to your home.  The Tracy Ellis Team may be able to save you money by not replacing unnecessary items or making the wrong choices.  I have a team of professionals that can make any and all changes quickly and at a great price!  So, prior to putting your home on the market, I’d do a detailed walk through of your home along with my professional stager to give you recommendations on what we feel it will take to get your home sold for top dollar!