Selling? I feel for you.  When you're trying to get your home ready to go on the market, the to-do list can seem endless. The last thing you want to do is move your furniture around in order to refinish the floors or take down all your artwork to paint.

Wouldn't it be easier to just offer an allowance?  Besides, wouldn't the new owners rather choose their own paint colours and carpet once they move in?

Sadly, no.  The problem with offering a paint or flooring allowance in lieu of actually painting or recarpeting is that these two items are strong emotional triggers for purchasers.  As soon as a buyer walks into a home, they have an immediate emotional impression which is very hard to overcome that after the fact. If the buyer's impression is that the house has worn carpeting or dingy walls it can give them the feeling that the entire home is tired or dingy and no allowance can change that initial impression. In the end, you'll likely get less for your home, plus, dish out the offered allowance.

But, don't panic, it's that first impression that is most important. So, if you're on a limited budget (and who isn't), start by just ensuring all the flooring within eye sight of the front door is in immaculate condition. Same with the paint. A buyer will be more likely to overlook or "forgive" carpet that's a little worn or not-so-fresh paint (perhaps extreme colours should be included in this category) in the secondary rooms that don't contribute to that all important emotional first impression.