Rosannne@BoulderBuyerAgent.com
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A Remodeled Home
The printout for the property states "Remodeled kitchen: granite countertops, maple cabinets, hardwood floors." I present the listing to my buyer client, who requests to view the home. We enter the property and see a beautiful kitchen in what otherwise is a run down, outdated house. The Seller must have thought that updating the kitchen would increase the value of the home, and hence the purchase price. But is the remodeled kitchen enough to make the home a good purchase for the buyer?
The printout states, "Completely remodeled throughout," and the home does look good. Has the remodel of this 1930s house included new wiring, or will the circuits blow when the computer, television and dishwasher are running at the same time? Does the recently installed Italian tile in the entryway match the country-style living room? Will the new custom fuchsia window coverings go with the prospective buyer's living room furniture? Does the "family room addition" fit in with the style of the rest of the house?
If permits were required for the work done, the buyer's agent can ask the seller for copies of permits and related documents. The local government planning department should have a record of the permit and letter of completion.
If the work has been done professionally, all labor and materials should be paid for before closing on the home. For added protection, the buyer can obtain Mechanics' lien coverage on the title insurance policy.
Remodeled homes are desirable if done properly. Does the remodel enhance the value and appeal of the property? Has it been done legally? Viewing several homes with your buyer's agent and doing some research will help you recognize a good remodel and determine whether you prefer to purchase a remodeled home or one that you can upgrade yourself later.
Rosanne Kolodenko is a Realtor and the Broker/Owner of her local, independent real estate company. She is an Exclusive Buyer Agent, and her company is an Exclusive Buyer Office, representing only homebuyers and working as their advocate. Rosanne is an officer of the Colorado Exclusive Buyer Agents Association. She serves Boulder County and the surrounding area. You can contact her at 303.447.1112 or Rosanne@BoulderBuyerAgent.com, or visit www.BoulderBuyerAgent.com.
