In addition to being frugal, I am also ecology conscious. I was perfectly satisfied with my kitchen and never saw a need to rip it out because my neighbors were doing so. I didn't like the color of one of my bathroom sinks, but it was in great condition, and I couldn't bring myself to see it go to a landfill because I didn't like the color. It was a soft pale yellow - so not terribly offensive. If it were pink, that would be a different story!
I had a serious case of affluenza in my 20's, but quickly recovered when we got over our heads in debt. Our goals then became focused on being debt free. I considered that more of a status symbol than granite countertops. So yes, the price of the house will get lowered and hopefully we will find a buyer who enjoys remodeling projects.
Where do you live, Molly? Just curious about the general area and the real estate market. It is interesting to compare different parts of the country. I think our archaic kitchen and the fact that we converted this to a 1 bedroom house would not even be relevant if we sold. The market here is flaming hot, and small old houses like ours are tear-downs, or semi-tear-downs where they essentially drop a big new fancy house over the old one, keeping the existing footprint. We could probably get the same price for our lot, even with no house on it. We are a little bit north of Boston. The town recently voted to build some nice new schools, and apparently that is playing a part in our hot market.
The market/location you are in will determine demand. I would lower the price if you are ready to move on. We sold our 2-1 out-dated cottage in Austin two years ago for $450K because the land it sat on was (and still is) very sought after. It could have had only a dog house on it and still would have brought the same price. I just checked its current value and it is now at $550K. Darn...should have waited another year Where we have moved to, buyers are much less "sophisticated" so all the upgrades aren't necessary. At least not yet...
Someone will buy it. Houses are selling in my neighborhood, built in 1950, 1250 to 1500 SF, old driveways not all paved, no one has central air, and I doubt granite or stainless steel either though I haven't peered in everyone's windows.
There are many people other than upscale double income millenials who dream of a home of their own. Who is your realtor targeting as potential buyers? Maybe that needs to change, or you need a different realtor who has connections in a variety of socieconomic groups.
My ex is a contractor and when we were trying to figure out what to do with our folks home to sell he told us only to upgrade areas that were necessary for a loan. Beyond that he makes all his money by pulling out brand new remodels done for a sale and replacing it with what the new owners want. He was right, we priced accordingly and that house that had not had anything done to the kitchen or bathrooms since it was built in the 60's went as soon as we put it up.
Molly, your post could have been written my me. We sold our house about a year ago under the very same circumstances. All the systems (HVAC, plumbing, etc) had been maintained meticulously. The house was built in 1977. Additionally, we updated kitchens & baths frugally when we bought the house in 1996 (as in DH refinished kitchen cabinets; replacing the blue & harvest gold bathrooms with neutral white tile, replacing some old carpet with hardwood floors). Realtors and viewers were aghast at how "90's"and outdated the house looked. People wanted "mid century" look with an open concept kitchen (think every HGTV episode). I had never watched HGTV in my life. Started watching it and finally understood the mindset. We would have probably broken even re: price if we had stayed and done the updates ourselves but who needs that risk, the potential to find more problems and the headache only to break even. We eventually drastically lowered the price (luckily we were able to lower price as house was paid off and we bought at low point of market in our area) and got on with our lives and the new downsized place where we are now. But who knew? Our values was to save for retirement and our kids' instate tuition, and not home renovations to a perfectly good functional (& to me attractive) kitchen, etc. I have no regrets. Trendy renovations get old fast, but my retirement account never needs a new roof. Good luck to you; I know what you're going through.
I read a decorating article recently that opined that "open concept" was the biggest mistake ever (I couldn't agree more wholeheartedly), but I won't hold my breath waiting for that attitude to filter down to tract developers.
Yes who wants to look at your dirty dishes when sitting in the living room? Also the noise level is louder especially if you don't have carpet. We only had 1 home that we did not upgrade while living in it and it sold fine. If the kitchen cabinets were in decent shape we always worked with them by either refinishing, painting or refacing them. Much, much cheaper then new ones and then we install a really nice countertop.
There are currently 1 users browsing this thread. (0 members and 1 guests)