Real Estate Advice
Forward to the Past
Dear Pat
We got a good deal on an older bungalow last year that had been
substantially remodeled in 1977. Fortunately, not much was done to
“modernize” the outside, but the interior is a time warp to the
Seventies: avocado fixtures and tiles in the bathroom, suspended
ceiling with fluorescent panels in the kitchen, narrow ranch-style
woodwork everywhere. There’s a lot more to complain about, but you get
the picture. At first we thought it was charming, in a kitschy sort of
way. Now we see it’s time to bring it up to date, and build in some
value. Where to start?
--Brady Bunch
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Dear Bunch,
Let’s start by looking at your options; you can consider them in light
of your own tastes and bank account. Your first option, of course, is
to do nothing at all: simply wait for buyers to value the 1970’s in
the way that they’ve come to appreciate all things 1950’s. Of course,
this approach may take some time, perhaps 20 or 30 years (happily,
I’ll be long retired by then).
If you can’t see yourself singing the bell bottom blues for decades,
Bradies, you might want to consider a more aggressive approach:
mentally tear out the bathroom and kitchen. Leave no 8-track unturned,
no vestige remaining of earth tones or disco chains. Now you must
choose: do you remodel forward or back? 2008 or 1928? My experience
tells me that buyers will reward either effort, so you have plenty of
creative leeway here. But if you’re not up for seeking out a hanging
sink, or an old claw foot tub, or cooking on an old porcelain 4-legged
stove, or generally living with all the inconveniences that an
authentic restoration would bring into your life, I’d advise you to
bring these “working” rooms into the 21st century. Remember, don’t try
to save money by keeping the paisley linoleum or the dark oak
cabinets—it’s better to entirely remodel with cheaper materials (I
hate to say this) than trying to forge a hybrid of styles that doesn’t
work. |
Your choices are simpler in the
other rooms, Bradies. If at all possible, go
forward to the past: buyers love old houses that
“feel” original. Sand the floors, replace the 70’s
millwork with oak boards and backband (not so hard
as you might think), install antique light
fixtures (or reproductions), order new
craftsman-style doors (readily available from
local building suppliers). Obviously, you don’t
want to spend more than you can get back when it’s
your turn to sell, but houses restored with
quality materials and workmanship attract more
buyers and do sell for higher prices. Of course,
call a seasoned Realtor for market value guidance
before you commit to any major expenditure. Good
luck!
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Pat
Rosaves is broker/owner of River Realty.
She has over 30 years experience helping
people with their real estate needs.
Questions may be sent to her at River
Realty, 2543 38th Ave S. Minneapolis, MN
55406. She can also be reached at
612-724-1314, or at www.riverrealty.net |
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