For our user agreement, click here . To make a house a home, resale homebuyers often must spend a lot of money beyond the initial cost of a home to replace a worn-out roof, finish a basement or remodel the kitchen. When this happens, a home that once seemed like such a bargain transforms itself into money pit. Money could be saved on fix-up projects and upgrades, of course, if the seller has already taken care of any necessary improvements. However, this raises the value of a home considerably and may preclude a buyer from making a bid.
Buyers don t want to take on a headache like that.
From my experience, I ve seen many buyers immediately turned off when they view a home that has worn-out carpeting, says Rowe. They just can t see beyond that cosmetic aspect, yet there may be treasure underneath. If you re looking at a home that is 50 years or older, chances are that there are beautiful hardwood floors hidden underneath those tired-looking rugs. Rowe estimates that buyers could increase the value of their new home by thousands of dollars if they remove the carpeting and restore the natural beauty of the hardwood floors. The same cosmetic upgrade approach can be used when it comes to the walls.