 |
Old Folks' House Needs Work |
| |
 |
My mother-in-law recently passed away. My father-in-law passed away 5 years earlier. My wife and I want to sell the house they lived in for over 30 years. My in-laws were not wealthy people and consequently could not afford any major repairs. My mother-in-law had the roof replaced 2 years ago. Outside of that, the house is basically the same, inside and out, as when it was built over 50 years ago. Their small house is in a nice neighborhood of Chicago but it requires a lot of work. For starters, the 2 car detached garage needs to be torn down and replaced and we discovered hardwood flooring under the carpeting, so we are going to have that refinished. After that we are not sure about how much remodeling we should do in order to sell the house and recoup our investment. The house does not have central a/c or dishwasher, all the doors, windows, woodwork, and light fixtures need replacing, and the bath and kitchen are over 50 years old. I have no idea what electrical or plumbing work needs to be done. Do we sell the house as a fixer upper or do we do all or some of the remodeling I discussed above? I am not a handyman and I am sure all of the above repairs/remodeling would be anywhere between $40K and $50K. Thanks! |
| |
| |
 |
Call three real estate brokerages that are active in that neighborhood (look at nearby "for sale" signs.) Ask them to come over and give you advice. You won't have any obligation and you will get the benefit of their experience. Then you'll have a much better idea of where you stand. |
| |
|
Edith
Originally published on October 2, 2007 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
