Upgrades and the Stone Canyon Buyers!

 I wanted to share a few insights with you about Stone Canyon Area homes .  The big draw is still the schools and the family oriented neighborhhod!  However, as the homes are all in the 10 year range +/-  buyers are concerned about breakdown of air conditioners and water heaters and they do not like the formica countertops and gold fixtures.

IN OTHER WORDS: FORMICA is out.  No one wants it.  GOLD FIXTURES (lights, faucets, etc)  are out.  No one wants them.  The interesting thing is even renters are preferring granite and updated fixtures.

So think carefully if you are considering updating your home.  Updating your countertops and your light fixtures will help your home sell in this market.   The big question is if the updates will pay off and return full value.  Conservatively, I would have to say that if you pay $5,000 for new counters you might get $3,000 – $4,000 increase in value maximum. (about 60% -80% of your costs back)  However, the speed of sale may make it all worth it.  Additionally, if you are not going to sell for a few years you will get to enjoy the upgrades yourself for a few years!

Increasingly, although buyers are well educated, buyers want homes that they can move into right away. By and large, buyers do not want to hassle with updating a home.

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