It’s not uncommon for agents to see homes marketed as a “Grandma’s house.”

grandma houseLess usual:   homes marketed as a “Grandpa’s house,” which I’ve now seen twice in just the past week.

I’m not sure what the listing agent’s association for each type of home is, but here are mine (and I’m sure, many other Realtors’):

Grandma’s House:

–“Vintage” Kitchen with lots of old appliances (wall oven, mixer, etc.);
–Old(er) window treatments, floor coverings, and wallpaper;
–Wood paneling;
–Lots of pictures of grandchildren.

Grandpa’s House:

–Utility Room with a workbench;
–Garage with lots of “stuff” (stray engine parts, power tools, etc.);
–Wood paneling;
–Old(er) window treatments, floor coverings, and wallpaper.

Cosmetic Improvements = Instant Equity

While dated, such homes usually boast “pride of ownership” and are (very) well-maintained.

They also frequently spell opportunity for Buyers, who can create instant equity by doing such things as pulling up old carpeting and refinishing the hardwood floors underneath; skimcoating and then painting the wood paneling; swapping out old light fixtures for new; and removing old window treatments, wallpaper, etc.

Meanwhile, a home warranty is a good idea for any Buyer moving into a home with old(er) but still working appliances and mechanical’s.

See also, “Granny Flat?’ Try, ‘Boomerang Bungalow.‘”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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