I was in a great Open House last Sunday. It’s $650K, 1950s construction with dimensional lumber for floor joist, a ton of concrete in the foundation, and in need of some updating. The lot and neighborhood are worth the price. The problem is the hardwood floors. Some one had them stained, and refinished.
I’m sure the rational is that a buyer will want to move right in to start living there, except that, even with the new paint, every room needs updating. The now painted paneling in the front bedroom needs to be removed. The master bedroom has to have the bathroom re grouted at the very least, and the other bathroom also. The kitchen is a period piece from when the house was built. It’s in good shape, but still, even with the new appliances, it’s a little worn.
All I’m saying is that over the course of the first few years of home ownership you would want work people in, and out of the home. The last thing I would want to worry about is the floors.
Now I understand that having nice floors is a good thing. There would be a time to have them done. It’s really pretty cheap, and that’s why Real Estate agents want to have it done. It’s cheap. They have it done cheaply. In this particular $650K house the floors were destroyed by an overly aggressive sanding grit, and stain that was little dark. It added no value, as a matter of fact I would deduct for it.
As a finishing note, pun intended, all flooring treatments a suspect in my book. new carpet, vinyl, refinished floors, are indications the property had deferred maintenance. In some cases it’s appropriate, especially if it’s in conjunction with added value improvements, like the addition of a laundry on the main floor. In most cases the agent, or home owner, are trying to hide something. For me it just means another negotiating point, but there are plenty of buyers who never really look beyond the paint, and carpet, so you take your chances.
