As someone who has just completed this process, it depends on what you're willing and able to do. One of the consistent pieces of feedback we got from prospective buyers is a desire for an updated look. That message is shown again and again on cable's HGTV. Basically it translates into an open concept floor-plan, floors preferred over carpeting, granite kitchens, no wallpaper and neutral color scheme. As one of the realtors we interviewed put it, the young people want "Pottery Barn" decor. However, our house was over 25 years old and decorated in the 80's in part by a professional decorator, with faux paint, floral wallcoverings that matched custom window treatments, and other custom treatments. We did remove wallpaper from several rooms, but it was expensive and difficult to find workmen willing to do it. That realtor suggested spending about $30,000 more to put it in the Pottery Barn current look. We chose to go with another realtor who took the listing with suggestions for only modest changes. Although we got (3) offers, people had no qualms about putting in offers significantly below our asking price. We finally got them to come up and settled for something in-between. The point I'm making is that the young buyers want it all and the houses that sell the fastest are those that give them what they want. If your house still has other features that appeal (ours had great curb appeal), you can still sell, but not as quickly and as for as much as you might have wanted. So, the most important changes you make are ones you've already considered. Yes, de-clutter. Our realtor staged our house and had us put away the bric a brac (sp?) coveted by decorators. We also changed the knobs on our kitchen cabinets from brass to nickel. It's amazing the difference this inexpensive change made. We did not re-carpet. We did touch-up paint on ceilings and baseboards and spent money fixing stuff that was not operating properly. So, we were able to sell, but likely would have gotten more had we made the house look like those on HGTV. Only you can determine whether it's worth it or not.
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