The more I see in this current market, the more I think my number of 10% is true.
If you expect to get $400,000 of equity out of your house, I think you should be prepared to invest at least $40K in upgrades to justify the number. Let me be clear - I'm not saying $40K gets you back $400K. No-o-o, no, NO! I'm saying if you bought your house for $250K 10 years ago, and you now want to get $650K, it's likely you need to have put in at least $40K in upgrades for the kitchen and bathrooms, fresh paint, new carpet or refinished floors, etc.
Case in point - one of today's appointments.

Here's the kitchen.
Do you know any woman prepared to buy a tiled countertop today? It's not flat and the grout is a perpetual germ risk. Some folks will put up with those cabinets; these happen to be rather worn. And the black fridge....
BTW, the bathrooms - all three - have the same tiled surfaces around the sinks, tub and toilet.
Here's just a few shots of the rest of the home:-




Yup! Flimsy 80s construction. (The wall paper borders are a true tribute to all that Waverly had to offer back then!!!) Updated bathrooms, kitchen and fresh paint would be all that's needed and then look what you got --
a light, spacious 5 BR home with in-ground pool, stables (for 2 horses), 2 paddocks and a turn-around, access to miles of horse paths, 2.75 acres, 4 car garage with lift (for a car tinkerer), huge basement, 3rd floor "escape", game room and much more!!!!
This house is comps out well in terms of price, yet has been sitting on the market for 15 months.
You would detail a car to sell it; most do it to turn the thing in coming off a lease so as to not be hit with overage charges.
You would dress for a job interview, first date, special date, party.
You would spell check your resume.
Why then are you so reluctant to fix up your home when you put in on the market? You're asking someone to part with their life savings and sign away their first born. Give 'em a little something for it, why don't you? Make it worth their while. The days of "hey, this thing is all about the features" are gone, man. You gotta package the place nicely.
And realtors who think they are done when they've listed on the MLS and Realtor.com? Your world's changed, too. Sorry folks, but a new day has dawned, and you need to find fresh ways to package and sell homes.
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Juliet Johnson Staging urges sellers all the time to properly "appreciate" what they've got. Recognize it, savor it, nourish it and grow it. In the Appreciation Game, staging's the last piece of the puzzle, and cannot serve up a buyer on a whim!
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