Bev Murray Real Estate

Owners of older homes closer to town in Sarasota looking to sell are in a great position. Established neighborhoods offer that unique old-Florida charm and ambiance that newer gated communities will never have, and being close to town means property values are often strong.

The downside to this of course is that many of the homes in these neighborhoods are often smaller and out dated, additionally the mix of homes can be very eclectic varying from a newly completed “tear down” that can sell in the millions to 1950’s era homes that are very small and would fail to meet today’s standards or desirable features.

Plan Carefully About The Scope Of Your Investment

This mix of factors means home owners will look at the obvious solution of remodeling their home to meet a contemporary home buyer’s expectations and get the maximum value in the sale. However remodeling your older home will have both opportunity for success and the potential for significant pitfalls.

Be Sure The Essentials Are In Good Repair Before Looking At Style

With so many home improvement tv shows inspiring people to turn their run-of-the-mill house into a design masterpiece, it can be easy for homeowners to overshoot and spend more than they get returned at the closing. Additionally many home owners may not focus on the really important features and instead invest primarily in surfaces, floors and other more cosmetic areas.

Below are several items we recommend are in great shape, all of these items may not be as flashy as that beautiful new kitchen however each will be looked at by the home inspector, and any problems here can easily dissuade a buyer no matter how beautiful the home is.

The Roof - It’s not uncommon for older homes to have a roof that will be in need to replacement or repair soon after the sale is complete. Be sure your roof is in good repair, and has been cleaned of any mold.

HVAC System - Florida’s hot climate makes having a good central AC system a requirement for every home. If the AC system of your home is very old and in efficient it may dissuade potential buyers outright. If replacing the unit is not in the budget have a professions give your system a full tune up, and do not forget making sure the landscaping around the outdoor unit is trimmed back and not encroaching.

Plumbing - No matter how much curb appeal a home has if the plumbing is not in good working order it will be a deal breaker for most buyers. Slow drains, old leaky fixtures, old pipes will all be issues any buy will be looking to avoid.

Electrical - Problems with electrical systems are not very common but older homes can have them. Outlets that do not work, lighting in a room that wavers in and out are a few signs that a home could be in need of some electrical repairs. Electrical issues also have to potential of fire danger so even though these seem like small things they should be taken care of.

Well System - If the home uses well water, we advise making sure the water pressure is very good, and that rusty old well pump equipment and tanks get replaced. As with the HVAC system the landscaping around the well equipment should be neatly trimmed back and clean.

Insulation - Lastly many older homes are not well insulated. Compared with other expenses this can be a fairly simple fix, but failing to have insulation up to code can also keep a buyer from closing the sale.

If your home is in great shape with the above items and the market will support higher prices, than it may be a good idea invest in updating the look and features.

In some cases home owners may not actually gain much in dollar value but find that the home sells far more quickly than it otherwise would. We highly recommend speaking to an experienced realtor about your situation before making final decisions about how much to invest in remodeling your home before sale to help choose which remodeling projects make the most sense. That said we do have a few thoughts consider when looking at what to improve before placing your home for sale.

Buyers Are Preferring A Clean, Open, Fresh And A More Modern Look.

Not so long ago, the entire southwest coast of Florida could not get enough of the Mediterranean look. Warm earthy colors, extravagant moldings, red ceramic tile roofs, and a general ambiance of old-world cozy and ornate were what many were looking for. Today’s buyers are looking for the complete opposite of that. Buyers are much preferring clean open airy looks with minimal clutter and natural materials. Keep thin in mind as you plan your update - in some cases simply a new coat of paint, new plumbing fixtures, updating the lights can go a long way to give a more contemporary appearance.

Consult A Real Estate Professional Before Spending Money

If you are thinking of placing your older home on the market, we highly recommend you contact a realtor with experience in your neighborhood first. Have your Realtor provide an in-depth market analysis and fully understand the market values of your home prior to making any decision to remodel or update. The market conditions will also be a strong factor as to whether or not it will be worth investing in a significant remodel or perhaps simply paint and pressure cleaning will be enough.