Question:
“We remodeled our home about 20 years ago. It’s still in great condition, so we feel we should get a premium price for it…”
Answer:
I hate to tell you this…
Today’s San Diego homebuyers are spoiled.
My theory is it started about 10 years ago when thousands of apartments were converted to condos. Though these condos were targeted at first-time homebuyers, they stunning with eye candy galore: granite counters, cherry cabinets, stainless steel appliances, etc.
This raised the bar and homebuyers’ expectations.
After this, things changed. If a home hit the market with “oak and brass” décor (remember that?) or tile counters (OMG!), it was considered old and dated.
So although your home is in fine shape, I think many homebuyers will see it as a remodel project.
And this was borne out in a home I just sold. The fact that it was a huge, pristine home remodeled in the ’90s in a great neighborhood almost worked against it. Homebuyers saw it as a big, costly remodel project.
In fact, the ultimate buyer was a fix/flip investor who will completely redo the house.
So you may not be looking at the premium price you’d been hoping for. But go ahead and have me by to take a look and go from theory to estimating an actual price for your home…
