Resale Home Improvement List with Costs?

Sounds like they are trying to justify why they are asking above market value.

As a potential buyer I would be more interested in if they had proper permits and licensed contractors doing the work, not the cost. If there were no proper permits it can be even more costly to correct/inspect.

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I have seen plenty of homes where the owners do DYI jobs with no experience and no permits. It happens quite often and occasionally with home flips. Some people will try to cut every corner possible.

J.

I've seen people do this. They are trying to ensure that potential buyers know and understand WHY they are asking the price they are asking.

Personally? I wouldn't do it. I would ensure that ANY work was warranted and that the warranty would pass on to the next owner.

They might be priced on the high side and trying to justify why to potential buyers. My son is currently in the process of buying a house and if the sellers had a list like that it wouldn't sway his purchase price at all. No lender is going to approve a loan for over market value and the improvement costs don't translate dollar for dollar.

If I were a buyer I would find this information useful in my decision making, especially if I weren't an experienced homeowner who was familiar with the cost of renovations.

ETA: It also helps with comparisons. If two similar homes are for sale in the same neighbourhood the buyer can see why the upgraded home is priced higher than the non upgraded home, and have an idea of what it would cost to upgrade the other home. A buyer may decide that paying for the upgrades that have already been done is better than having the hassle of doing them themselves. On the other hand, a buyer may choose the DIY route and prefer a cheaper home that needs more work.

They are HOPING what they put in will equal what they get when it sells.
Certain upgrades will work this way but not all of them.
Spending $50,000 to update a kitchen or bathroom is one thing but spending that same amount on a closet most likely will not.
Also, did they spend the $ this year or 5 years ago? - time depreciates things.
I can't think of any relator (and I know a few) who would think listing this way is a good idea.

Sometimes the improvements go the other way with a buyer. You improve to "what" you think is in. The buyer may want the house as it to make their own changes.

I would like to do a granite counter top in my kitchen the but cost of the top is prohibitive to doing the rest of the kitchen. My kitchen is small and any dark colors will make it look like a cave. It may be time for the wall paper to come off but then again that is a pain but it can be painted over if the new owner does not like it. I would have to texture the wall from the paper to match the rest of the finish.

If too much is done in improvements it may price the seller out of the market.

the other S.

I've seen it occasionally, but it's really not necessary for every little detail. It just makes it seem like the sellers are desperately trying to justify a price that is way out of range.

Remember, banks are not going to approve loans for more than the appraised price, so unless you have cash buyers who absolutely love and can't live without the house, listing all of these various improvement costs isn't going to sway the average buyer.

Savvy buyers want to know whether the electrical and plumbing are working and up to code and that the roof, water heater, water softener, heating and air are all working properly.

New floors and fresh paint are always appealing to buyers (as long the improvements are generally neutral), but saying that you spent $15,000 on new hardwoods and $2500 on new paint isn't going to make buyers agree to an over-inflated listing price. And, certainly, you know you don't get back your total costs for improvements, right? This is true even for kitchens and baths, which usually net higher returns for improvement dollars spent.
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ETA: So, for example, last year we had our entire house re-piped. It was a HUGE job. I lost count of the cuts in my walls after about 80 or so. Anyway, we did this because our pipes began cracking and leaking. We learned that our pipes were the kind that get brittle and crack, causing leaks.

Although I don't have the paperwork in front of me, I believe it was a little more than $12,000 out of our pocket. We did not have the type of pipes that were part of the huge class-action lawsuit from a few years back, so this was all on us if we wanted to do it. To me, it was a no-brainer. I was not about to worry constantly about where the next leak would show up.

Of course we had all of the proper permits pulled, and a licensed plumbing company did the job. After completion, the city came and did the inspection, and I've got all of those papers filed away for when we sell.

While we will mention "all new plumbing 2014" when we put our house on the market, (hopefully, sometime this year), we won't need to mention the costs. The buyers won't care what we had to pay. All they will want to know is that the plumbing is sound, that the job was done properly, and all of the proper paperwork was completed.
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Seriously, the best thing you can do if you REALLY want to sell your house is get a REALISTIC appraisal; look at comps in your area; and price your home accordingly.

J. F.

When we have sold houses in the past, we include a list of all of the improvements made and the year, but not the cost. We did this in areas with old homes so people can see that despite being an older home, it has many new features. This is especially important with mechanical components like HVAC, kitchen appliances, etc. New roofs are another improvement that are great to include in a list of upgrades/improvements. Any additional information beyond what is standardly included in the real estate listings can be helpful, but in the end, people will pay what they think it's worth, not what you put into it.

I've seen that before. Not unusual where I am.
I'm confused. Was something removed? Why are people assuming the work isn't warranted or was done without proper permits?

Yep. It is up to the homeowner to decide if they want to take care of these repairs and see what the new evaluation for value is or to sell it as is.. with this list to guide them. Or to leave it as valued for the buyer to know what is needed.

We sold our home this last December "As is. All we had to do was get our stuff out of it and have t emptied.

If we had repaired everything it needed.. first of all I would still be dealing with it today, it probably still would not meet what today's homeowner would want and I would be in the Travis County lock up for hurting my husband very badly.. Ha!

That home was built in 1932. Because of the soil, and the house was pier and beam, these young buyers would have freaked out that sometimes windows open and other times do not. That if they wanted to plug in all of their electronics at once.. they would need to unplug other items.. Oh and different times of the year you had to get into the house through a different door because of the shifting. .It was charming and humorous to us, but not so much to these whipper snappers.

Sure enough, the gentleman that purchased it is a builder. He ended up tearing it all down and is going to build a brand new modern all clean, with no cracks, new pluming, new electrical, energy efficient charming cottage.

So you decide if it is worth your time and energy for the amount of money that you will get when selling.