One look at the latest Remodeling cost-vs-value report will tell you that you aren’t going to get all your money back on any home improvements you make before selling your home.
Indeed, you’ll probably attract more interested parties when you refurbish some of the less desirable elements of your house though.
So, the question is, ‘to renovate, or not to renovate before selling?’.
Discover the dos and don’ts and pros and cons here.
What to Do Before Selling Your Home
Collectively, Americans spend over $400 billion on home improvements every year. Yet, most of this expense involves things they’ll get to enjoy for years to come.
When it comes to renovating before you sell your home it’s important to focus purely on ROI rather than enjoyment. These are the best things you can do for your home if you want to make some money and sell fast.
Refinish Hardwood Flooring
On its own, hardwood flooring is a big drawcard for homebuyers. It’s even more appealing when it’s in good condition.
Sanding over scuffs and scratches and then applying a new coat of finish doesn’t cost a fortune and is a quick task. Yet, you can expect to get all your money back on this type of fix, and you’re likely to attract more buyers.
Tone Down Your Color Schemes
Garish colors are offputting for many prospective homebuyers. If you have a room that’s brightly adorned in neon pink paint, rather paint over it in a more neutral color.
Homes that clashes with most tastes take longer to sell and painting’s one of the most cost-effective ways to give your home mass appeal.
Small Fixes Yield Big Returns
Many homebuyers can’t see potential in a home unless it’s very obvious. For this reason, they often view some easy repairs as insurmountable problems.
Simple fixes like painting over scuffs on your walls, replacing broken light switches or fittings, and upgrading your kitchen cabinet hardware goes a long way towards improving buyers’ first impressions.
Tidy Up Your Environment
On the subject of first impressions, tidying up your yard has a major impact on your home’s curb appeal. Trim bushes, mow your lawn, and add some potted plants.
Pressure washing the outside of your home will also do a lot to improve its overall appearance. None of these things cost a lot or take up much time, but they could make the difference between a drive-by and an interested buyer.
Get Expert Advice
There’s no doubt that a realtor will know whether you should embark on a particular home renovation before selling. They’ll know what type of renovations attract buyers and how much value they’ll add to your home.
If you want to sell your home as-is, a realtor will know if fixer-uppers sell in your area, and may even have a buyer in mind. Alternatively, you can always sell your home as-is to a cash buyer.
Things You Shouldn’t Do Before Selling Your Home
Some home renovations simply don’t justify the time and expense needed to complete them. Remember, home renovation costs often escalate out of control in the process too.
So, if you get a quote to fix your roof for $10,000, and the contractor discovers additional problems along the way, you could end up with a large bill and no alternative but to continue with the repairs.
These are the most common instances when you shouldn’t attempt to renovate your house before you sell it:
It Needs Extensive Repairs
If you’ve inherited a house that’s in exceedingly poor condition, rather cut your losses. Major fixes like holey walls, faulty plumbing and electrical malfunctions aren’t easy or economical to fix.
In this case, you’d do better to accept a low offer from a team of contractors, fixer-uppers, or a cash home buyer.
You Need a Quick Sale
If you want to sell your house fast, don’t go overboard with improvements. Apart from the delays caused by your home improvement efforts, you might not get back all the money you’ve spent.
Let’s say you’re relocating for work purposes and need the money from the sale of your house as a deposit on a new home. In this case, it doesn’t make sense to spend time and money on renovations.
You Can Avoid Major Expenses
A full kitchen upgrade’s an expensive and time-consuming chore but it’s an attractive option for buyers. You needn’t go all out to make a good impression though.
Painting your kitchen cabinets and replacing the countertops will still create a good impression at a fraction of the cost.
Also, kitchen fashions come and go with the wind so there’s a good chance the new homeowner’s planning a refurb of their own in the future anyway.
Your Home’s Fine As it Is
There’s no rule that states you have to increase the value of your home before selling it. If you’re content with it’s current valuation go with the flow.
Rather spend time and money deep-cleaning every nook and cranny to make is as attractive as possible to prospective buyers. It’s only human to want the best price you can get, but in this case it may not be worth your time and effort.
If It’s All Too Much
If you don’t want to go to all this hassle before selling your home, there is another way to sell it fast.
Get in touch, and I’ll make you a fair cash offer on your property as it stands. There’s no pressure, and no surprises when you deal with me .
Call today, and let’s talk about how I can make the sale of your home an effortless, smooth process.