According to statistics, home buyers believe that repairs and upgrades cost on average 6X times what they actually cost. That’s on average, some are going to be more and some are going to be less. Don’t let the X6 factor or the 6X effect cost you a bunch of money when you’re selling your house.
This flooring only costs $1.50 a square foot and for $250 it went from that cruddy looking vanilla looking floor to this really nice waterproof vinyl modern looking floor that has a wow factor to it.
Now when you walk into that bathroom, you think to yourself wow this is a really nice floor! Compared to, ah, now I’m going to have to replace that floor. Not only do buyers multiply the cost of the repair by six, let’s just be honest guys, a lot of people don’t have the money regardless of what it costs.
They’re going to be bringing their friends and family into this house that they’re buying and they’re going to be showing it off. If you have a really cruddy looking floor, old dirty carpet that needs updating, or a paint color that is really strong and it’s got a cringe factor to it…. I don’t think that’s a factor of six. I would say it’s a factor of 10 or 20! A lot of small cosmetic upgrades can make you a lot of money or lose you a lot of money when it comes time to sell your house.