Should you renovate your property before selling?
If you’re planning to sell your home in the near future, you may be wondering if you need to renovate first. And if so, how much you should spend? You may have heard that “great kitchens sell homes”, “curb appeal is essential”, or about the popularity of luxurious bathrooms.
Let’s discuss the main benefits of renovating your home before selling and how it will impact and increase your home’s value.
The benefits are:
1. Increase your home’s value
The goal of every homeowner is to make as much money of their home as possible when selling it. Renovating and improving your home will ensure that by increasing your home’s value.
2. Appeal to more buyers
A renovated home attracts more buyers. This means you will likely see a quick and competitive offer as buyers try to snatch it up.
3. Sell your home faster
When your listed home appeal more buyers, it will be sold in a short time as all buyers will try to compete and get the deal.
4.Fix any needed repairs
Renovating your home to fix any issues will avoid turning off home buyers, and it will give home inspectors no choice but to speak its good qualities.
5. Show the home is well-maintained
Renovation shows that your home is been taken care of, and when buyers see less risk, you’ll see more money in offers.
The most valuable home improvements are those that increase your home’s worth in fair relation to the amount you spent on them.
- Fresh Paint in Neutral Colors
If you have a creative sense of color and you haven’t painted your home in a couple of years you might want to consider painting it in neutral colors like off-white or gray and it won’t cost that much even if you hire professionals.
- General repairs
It’s highly recommended to fix anything that is broken before selling to make your home more appealing.
Some other renovations can help increasing home’s value, but won’t always payoff:
- Kitchen Overhauls
- Bathroom remodeling
- Gorgeous Landscaping
- New Hardwood Floors
There are some renovations that we advise to avoid:
- Wall to wall Carpeting
A lot of buyers don’t want wall to wall carpeting because it’s hard to keep clean, and they actually prefer hardwood and tile floors.
- Swimming pools
Swimming pools are fun and appealing but they reduce the house value because they are expensive and pain to maintain.
Adding extra room or an additional story to your home almost never pays off when you are selling but its worth it when you are staying for a long term.
Overall you want to play it safe and look for high impact and low cost improvements and beware of low ROI (Return of Investment).
Some small updates to improve the character of your home can make great impact like switching plates and outlet covers and door hardware like replacing old knobs for better and newer ones.
It’s highly recommended to consult a renovation specialist who can assess your home and provide you with a complete solution that increase your home’s value with less renovations expenses.
Contact our team for a free in-house consolation