Comments on: What Do Buyers Want in a Home? http://blog.equifax.com/real-estate/what-do-buyers-want-in-a-home/ Wed, 22 May 2013 10:50:49 +0000 hourly 1 http://wordpress.org/?v=3.5 By: Ilyce Glink, Managing Editor, Equifax Finance Blog http://blog.equifax.com/real-estate/what-do-buyers-want-in-a-home/#comment-12544 Ilyce Glink, Managing Editor, Equifax Finance Blog Sun, 29 Jul 2012 14:50:27 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3845#comment-12544 Suzanne: Thanks for your question. Whether to make the move to renovate depends on a complicated equation that is equal parts time, money, motivation, competence, and resale value. In your example, the widow may not need any more room but might like to live with new appliances, and a new bathroom. On the other hand, is the best option for the house to tear it down or can someone with some money and vision come in and re-imagine this property?

We’ll be sure to explore this question more fully in an upcoming blog. Thanks for reading.

]]> By: Ilyce Glink, Managing Editor, Equifax Finance Blog http://blog.equifax.com/real-estate/what-do-buyers-want-in-a-home/#comment-12545 Ilyce Glink, Managing Editor, Equifax Finance Blog Sun, 29 Jul 2012 14:48:36 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3845#comment-12545 I’m not sure what you mean, Barbara. We have cited our source details and link most of them above. Thanks for reading.

]]> By: Barbara Armour http://blog.equifax.com/real-estate/what-do-buyers-want-in-a-home/#comment-12546 Barbara Armour Thu, 26 Jul 2012 18:10:45 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3845#comment-12546 Can Ilyce Glink source her data/stats?

]]> By: Susanne Hunter http://blog.equifax.com/real-estate/what-do-buyers-want-in-a-home/#comment-12547 Susanne Hunter Mon, 23 Jul 2012 16:52:55 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3845#comment-12547 I would like to see a column on when it might be smarter to NOT upgrade. Take the case of a 70-year old widow living in a home purchased in 1976 at $70,000 and paid for in 1995 by making extra payments on principal. The house is in a very good location and is on a half-acre lot. It is a brick rambler with large yard in front and back (there used to be a swimming pool, which was filled in). She does not want to go through the hassle and decision-making involved in upgrades. To tell the truth, the best upgrade would be to tear it down and re-build. There are no walk-in closets and the bathroom on the main floor is small. Two small bedrooms and a size-able “family room” which had been a car port before the house was bought (no basement under this room). There’s a full basement which became unfinished due to a storm drain backup; it could become finished by a buyer. Why should this woman do anything but sell “as is” even if it means selling for $250,000 instead of $400,000? At her age, the place she would move to would likely not cost her more than $250,000, and even if it did, she can afford a small mortgage if necessary. Don’t you think there are any buyers out there who would purchase a live-able brick rambler in a good location for $250,000, which they could renovate themselves as time and money permit?

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