Beware. You could spend the money on the house and it may still only sell for $102,000. The house will only sell for what the market will bear. You need to understand WHY the realtor suggested 102. Generally speaking, houses are appraised based on square footage, bedroom/bathroom count, etc.
Decor doesn't have anything to do with appraised value.
Some of the HGTV shows that advise sellers to update are misleading. Yes, move-in ready condition will have a positive effect on the selling price, but only within the constraints of what the market will bear. The idea is that if your home COULD be 109 with improvements, but isn't because of the need for updating then updating could get you the 109. And the fact is that, if you DON'T update, you could get less than 102 and be on the market longer. It is a buyer's market for sure.
An average buyer will spend around 5 to 10 minutes looking at your property. They have a very short period of time to get an overall feel for what your property offers. Formal dining room? Big master? Eat-in kitchen? How does your house function? It's why they say, make the dining room look like a dining room and nothing else. Don't confuse a buyer. It's not an office/dining room. They will try to remember your house later, and wonder, did it have a dining room?
The goal of a first showing is to get a second showing. The first showing is almost always a way to narrow down a long list of potentials. The second showing is when the buyer will really take a look at specific details.
And remember, half of the time the buyer spends at your house will be standing on the front stoop waiting for their Realtor to get the lockbox open and get the key to open the front door. Spend time here making it look inviting, it's the longest time the buyer will spend in one place. Fix that front door. These impressions are important. They need a positive impression here for sure, otherwise everything will be clouded by that sticky front door. They will wonder how well you've maintained everything else as they walk through and be more apt to look for flaws with a poor first impression. Try to clean the brass first. See how good it can look first.
Cleanliness will trump updates. Cleanliness implies good care and maintenance. Get out your toothbrush and get down and dirty with every aspect of your house. Clean all the baseboards. All the moldings. The doors. The cabinets. The hardware. The carpet. The grout. Clean the walls. You'd be surprised what that can do. You may not have noticed the product on your walls in the bathroom...but removing it makes the walls just look newer.
Clean up and clear out. Make sure a buyer can easily walk around your rooms. Clear all personal items. You don't need the buyer to visualize you living in the house. You would be amazed how buyers will get distracted looking at personal items and totally ignore the functionality of the room. Clear off the kitchen counter. Make your house look like it has enough room to live in. Cabinets. Closets. You are selling a lifestyle, not just a home. Think, this is the house where I will finally be organized and have company over for dinner. That's what the buyer wants.
Yes, kitchens and bathrooms sell houses, because they are the most expensive rooms in the house to change. But little things can go a long way. Not sure why you think you need a new tub, which unless it's free standing, would be a major thing to change. Instead, clean it super clean first. Remove all the old caulk. Get all the mildew out. Potentially, you could get a powerful steam cleaner to get at the grout. Potentially, you could use a power washer to remove old grout. Regrouting with a different color could make a big change in the bathroom and be relatively easy to do. And definitely, recaulk. There are touch up kits for tubs. Look to cleaning and repair before you completely update and replace.
When you are ready to show. Take a lesson from model homes. Turn on all the lights. Set the dining room table. Set the breakfast table. Get spa-like stuff for your bathroom (not clutter-like). Put out the pretty towels. Make the master bed impressive with pillows and a throw. Make the other bedrooms look like something out of a hotel. Think streamlined. You don't sell a home the way you live in a home.
Selling in today's market isn't easy. We are getting ready to go on the market ourselves.
Thank God we didn't go with her!
