Upgrade your Frisco Colorado condo. It will sell faster and for more money.

Apr 30, 2008 | 4 Comment

What upgrades will make you money when you sell your condo in Frisco,

your home in the Reserve at Frisco or your townhome in Waterdance?  A client of mine is currently making some upgrades to his Frisco duplex, and he is concentrating on the kitchen.  Kitchen and bath upgrades will almost always make your money back and may even increase the price you can ask.  It is worthwhile to add granite countertops and stainless steel appliances.  Replacing cabinets is a big project, but if the home is older than 15 or 20 years you may need to do that too.   Perhaps a coat of paint and new knobs will be enough, but not in high end properties.  Appropriate upgrades will help your Frisco property sell faster, and closer to the top of its price range.  Overdoing in the lower price ranges may not get you your money back, however.  Don’t improve the property so much that it is over the top for the neighborhood.

Do you have a condo for sale in Frisco under $500,000?  To maximize the sale price, change out vinyl floors with ceramic tile or wood.  Replace worn or dated formica countertops, at least with granite tile and better yet, with slab granite.  A good resource for inexpensive granite counters is www.bouldergranite.com.  They sell prefinished 8′ slabs for a very reasonable price.  For a galley kitchen or for bathrooms, they will work very well.  For L shaped or U shaped kitchens, they need to be cut to fit, and a professional should do that. Appliances don’t necesarily need to be stainless, and black is a good alternative.  White works with lighter cabinets, but is beginning to feel dated.  Check out the want ads in the Summit Daily, Craigslist, or www.freecycle.org for free or inexpensive appliances.  A friend of mine recently found a new black and stainless stove with a glass cooktop (new price, $750) for $400.  Someone bought a new house, wanted a gas stove and was selling the electric one, unused.   He found a two year old, stainless, side by side refrigerator for $450.  A Vail homeowner was upgrading to a bigger, better refrigerator and sold the one she was replacing, cheap! 

In the bathroom, if the tub surround is in poor condition or the fixtures are an outdated color, replace them.  Carpet in bathrooms is not acceptable today.  Replace with ceramic tile.  People buying second homes do not want another home to remodel unless it is a lower priced condo with better than average appreciation potential.   Have you watched any of the “Sell my Home” or “Flip this House” TV shows on TLC or The Home and Garden channel?  The houses that sell the fastest and for the most money  are the ones that make mostly cosmetic changes using neutral colors.  The successful flippers try to appeal to the masses and ignore their own individual tastes.  If you do the work yourself, make sure it is good quality.  Poor workmanship will negate everything you do. 

Townhomes in Waterdance, another Frisco subdivision, 

have  prices between $600,000 and $900,000.  In this price range buyers want slab granite and stainless appliances.  Waterdance townhomes are new enough that they already have many of the upgrades, but the original builder did not put ceramic tile on the bathroom floors.  Add it now.  In this price range, wood floors are appreciated by Buyers and the investment may be worthwhile.   Make sure the carpet is in good shape when you put the property on the market.  It is relatively inexpensive to do, and it makes a big difference.  Again, buy a neutral beige color; not too light, but not too dark.

For single family homes in Frisco in the upper price ranges

(over $1,000,000), a good kitchen is extremely important.  High end GE Profile or Monogram appliances are a “must have” but also be very aware of the new trends.  I hear that oiled bronze may be the latest and greatest.  In this price range,  replacing light fixtures also pays off.  Remove any wallpaper including borders.  Paint with neutral colors, but not white or light cream; tans and butterscotch colors are best.  Pink carpeting won’t be appreciated by potential buyers, even if it is in good shape.  Replace with a good quality beige carpet, or in the living areas, with wood (not Pergo or a laminate floor!)  Buyers prefer wood doors and trim.  Hollow core doors are only acceptable in the lower price ranges.  In Summit County, buyers want a mountain feel, but we are seeing more people who like a contemporary look.  It should still have a “mountain elegance”, however. 

Spending a few hundred dollars can help you make several thousand.  When you are all done and have your Frisco property ready to sell, you will wonder why you didn’t do it sooner!   Our market is much stronger than many other parts of the country, but buyers are now more cautious and want to be sure they get value for their money.  You can give it to them. Yours can be the vacation home they choose to buy over all the other Summit County real estate they see. 

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