My house is for sale in the upper midwest. It has a very formal decor (antique reproduction William Morris wallpaper on all walls AND all ceilings). It has custom leather cornices, jacquard and velvet window treatments, and custom window shades. It has ornate brass and frosted glass light fixtures, custom brass doorknobs, and unique/custom vent covers throughout, etc.
It was all professionally (and expensively) done by designers and is in excellent shape. The colors are neutral (white, beige, wheat) and there are no wild or colorful patterns.
However, I have read warning after warning that wallpaper is a scourge upon sellers and, apparently, it is something of which buyers are exceedingly unforgiving.
I received professional estimates and it would cost approximately $30,000 to remove the wallpaper and glue and prep/paint the walls and ceilings. It would cost a little more to also take down the cornices and replace the custom blinds with simple white roller shades.
However, the house is already priced much lower (proportionately) than the comps to reflect this. This house is in a very desirable and exclusive cul de sac. Comps in the neighborhood sell for 25-28 percent over their assessed values (and for an average of 4 percent over list price). At $465,000, mine is listed for only 9 percent above its assessment. (However, it is still one of the more expensive houses in town and buyers in this price range are relatively few—especially at this time of year). As a result, we’ve had very few showings and very little feedback.
My questions are: 1. Has anyone had a situation as a buyer or seller where decor was a “defect”—that is, so pervasive and so expensive and laborious to “fix” that it either rendered the house unsellable or required a firesale discount? How did you ultimately resolve the decor issue? 2. From a marketing perspective, should we try to lean into the decor and present it as a positive in an attempt to appeal to that “special buyer” who would actually appreciate the design aesthetic and not be deterred by it—and to weed out the people who want white kitchens and gray walls?
I’m just curious how others have factored bold decor into their prices and/or offers or how they dealt with it.
Thanks in advance for any thoughts you care to share.
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source https://www.reddit.com/r/RealEstate/comments/dpvs4s/when_does_decor_become_a_defect/
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