Quote:
Originally Posted by stomachmonkey
For every $1 that it needs put into it a buyer will offer him $3 less.
The other thing that happens is realtors will use his place to sell another, "for $xxx you can buy this which needs work when for a $yyy you can buy this one around the corner and move right in"
|
That all depends on where the $1 goes. If your neighbor neglects to fix parts of the kitchen and baths, then that may be true. If there is a hole in the wall in the garage, the neighbor may very well be better off not fixing it.
It all goes back to where investments in a home will have a greater ROI. In my area, a pool will typically lower a home's value since most people do not want the maintenance headaches. In Texas, that may be different.
I would say your neighbor should make sure everything is up to speed with regards to the kitchen, bathrooms, entry way and landscaping. A fresh coat of paint on the inside will help, and if he did it himseslf, that likely didn't cost him too much.
It is best NOT to hide any structural issues, as that can lead to legal issues in the future.
Just my $0.42,
-Z-man.