Long term planning of selling your home?

[paulsharvey]

We do have bushes and a Japanese maple around the house, but the reality is you can't really see the house from the road, which is one reason why we love it.

It might seem counter-intuitive, but you that privacy you like tends to work against sales. Not saying remove the bushes or the maple; but a heavy trimming a few months before ready to list might be worth while.

If I were you; it's worth $500 to have a cleaner come deap clean the home

It's worth it to paint, declutter, and frankly, it's best if you can be moved out when listing it. If you can't move out, if you can relocate 80% of your 'stuff'. A small to medium sized closet is going to Look smaller with your clothes in it; ect.

I would consider having the yard mowed. fertilized, edged, sprayed for a few months; unless you're really into a professional looking yard already.

I really think it's the 80/20 rule. I bet you can get 80% of the value you planned from your proposed $70k in work, with a well planned/carefully spend $5000.

 

[buckeyefarmer]

The only issue with asbestos is if in dust form and you breath in a bunch. People overreact to the word, and treat it like it’s poison ivy.
I didn’t know it was used in popcorn ceilings, which I can’t stand.

 

[ultrarunner]

Cash buyer vs buyer dependent on mortgage can make a huge difference and then it goes to another level with FHA

I know folks that sold a beautiful multi family home because it was in reinforced masonary fearing the time would come of mandatory retrofit and decades later they were right.

You don’t know what you don’t know but inspections can cover a lot…

Roof, Chimney, HVAC, Structural Pest, Asbestos, Lead, Galvanized Pipe, Non Saftey glass shower doors, electrical code changes.

I was helping a family sell after a death and they were happy to get a good offer but 21 day inspection period.

Buyers came back asking for tens of thousands in credits…

I advised to counter with a modest credit which buyer rejected.

Another buyer was waiting in the wings and the property sold at a good price but now the seller had to furnish copies of all the reports they had been given which didn’t matter to the second buyer.

It only takes one ready, willing and able buyer to close the sale.

 

[plowhog]

Things get complicated when you get to the inspection stage. And everything is compressed because the seller has often already made other plans for moving on.

When I sold my personal residence, I had a sophisticated buyer, and a seasoned home inspector, try to scam me. While in escrow, the buyer demanded a $50k reduction to the already negotiated price. This was due to "serious" home problems the inspector found. Except those problems did not actually exist. The two were working in tandem. The inspector's marching orders were to "find problems" to give the buyer negotiating leverage. I don't know for sure, but I suspect he got a percentage of the price reduction(s) obtained. I hired all my own inspectors after "his" inspection to disprove the results. Cost me $$ to do that. Despicable behavior.

My neighbor had a multi-million dollar sale of their residence blow up recently due to an inspection. Their new garage addition was built a little too close to the property line (about 18 inches) but that was not disclosed to the new buyer. This is on a residence with several acres of land. The buyer spent a lot of money on inspections to find that, and threatened to sue the seller for the cost of his many inspections since that issue was not disclosed. The deal fell apart.

Another buyer closed escrow only to find the entire community water system had quality problems. The seller did not disclose the wide ranging water quality problems because he had added a $10k water filter. He "thought" it was handled, but it was subject to mandatory disclosure no matter what he thought.

And it goes on and on and on ...

 

[Sigarms]

Things get complicated when you get to the inspection stage. And everything is compressed because the seller has often already made other plans for moving on.

When we bought our place, the seller didn't live in the house for 8 years and on the property.

When we sell, we hope to be as laid back selling the place as well.

 

[zzvyb6]

There's a war with China coming, according to our Defense Secretary (and the Chinese of course), this will change the 'landscape' of the US economy forever. 5 years is way too far ahead to plan. I went with land (they stopped making it quite a while ago), house in the center, no neighbors, and it will make an awesome 'neighborhood' of chicken coup houses, all with gray siding & white trim when I die.

 

[Carl_NH]

So you know you're going to sell and downsize a bit, and you have 34 acres, and you don't want to build on the 17 acre parcel due to egress / access. You also acquired this after the house purchase so can take that cost basis against the gains.

Consider separating the parcels into two lots, put 17 acre lot on the market now or soon as you can wait to sell to get the price you want. This also provides the funds to invest in another plot of land, start the build, then also prepare your house for sale.

I doubt the property value on 17 acres vs 34 acres is much of a difference in reduced value to a buyer. However selling a 17 acre lot in most areas should get you a nice head start on your next property.

 

[Sigarms]

So you know you're going to sell and downsize a bit, and you have 34 acres, and you don't want to build on the 17 acre parcel due to egress / access. You also acquired this after the house purchase so can take that cost basis against the gains.

Consider separating the parcels into two lots, put 17 acre lot on the market now or soon as you can wait to sell to get the price you want. This also provides the funds to invest in another plot of land, start the build, then also prepare your house for sale.

I doubt the property value on 17 acres vs 34 acres is much of a difference in reduced value to a buyer. However selling a 17 acre lot in most areas should get you a nice head start on your next property.

We've actually thought about that.

However, to do so we would need to get the land rezoned per the 17 / 20 acre (or so) split.

When we bought the house, it came with only around 7 acres. The other payment was for the additional 30 acres.

Right now, looking at slightly over 4 grand to survey the land to submit to the county for rezoning.

If we don't want to build on the other side of the creek, I'm thinking of two options down the road.

1 - Sell the house with the 2 tracts total of around 37 acres.

2 - Sell the house with 17 acres and rezone the the other 20 or so on the other side of the creek and just hold on to it.

Way I see it, that additional 20 acres could mean a good bit for the right buyer with the open land even though on a large hill.

 

[riptides]

We've actually thought about that.

However, to do so we would need to get the land rezoned per the 17 / 20 acre (or so) split.

When we bought the house, it came with only around 7 acres. The other payment was for the additional 30 acres.

Right now, looking at slightly over 4 grand to survey the land to submit to the county for rezoning.

If we don't want to build on the other side of the creek, I'm thinking of two options down the road.

1 - Sell the house with the 2 tracts total of around 37 acres.

2 - Sell the house with 17 acres and rezone the the other 20 or so on the other side of the creek and just hold on to it.

Way I see it, that additional 20 acres could mean a good bit for the right buyer with the open land even though on a large hill.

You sure you can rezone?

My county put minimum acreage requirements and a slew of other requirements that would impede if not outright discourage zoning/development changes.

 

[Carl_NH]

Spending the money now for a resurvey and rezoning would be best. Rarely do buyers have the funds or desire to buy more land when they first buy a new property, or they want it for a song.

Divide and sell, or divide and hold is up to your personal needs financially. They don.t make any more land and its likely only going to become more valuable in the coming years.