When you’re getting ready to sell your home, the decision of whether or not to renovate your home can be a tough one. On the one hand, renovations will help it look nicer and potentially increase the sale price. But on the other hand, they can be expensive and time-consuming – and if you’re not careful, you might end up spending money on renovations that don’t actually help your home sell to recoup that investment. So what’s the answer? In this blog post, we’ll give you our best DO’s and DON’Ts advice when it comes to renovating before listing, as well as some of the most cost-effective upgrades to make.
What do Homebuyers want?
The first thing you need to ask yourself to determine if upgrades or renovations are needed is “What do Homebuyers want and does my house have it?” Homebuyers today are looking for certain features that were not as popular in the past. Homebuyers are also more informed than ever before and have access to an overwhelming amount of information about homes online. Because of this, they know what they want and they usually won’t settle for anything less. So, if your home is lacking in some of these key features, it might be worth your while to make some upgrades before listing.
Do’s and Don’ts when it comes to updating your home before selling.
DO Fix Any Major or Obvious Home Issues
This one might seem obvious, but deferred maintenance on a home can have a significant impact on the sale of your home. Deferred maintenance means any repair or upkeep that has been neglected. Generally, homebuyers are not looking to purchase a home that needs a lot of work – they want a move-in ready home. If there are any major issues with your home, such as a leaky roof or crumbling foundation, you’ll need to fix those before listing.
DON’T Tack on Home Additions
While creating a more livable space in a home sounds desirable, the ROI for this kind of investment might not be worth the trouble and added headache of taking on a large renovation. Unless you’re absolutely sure that the addition will add value to your home, it’s best to avoid this type of renovation. Instead, focus on updating and modernizing the space with simple finishes as opposed to adding more.
DO Update the Home’s Finishes
Nothing dates a home quicker than old finishes, think about 90s brass fixtures. Homebuyers are looking for a home that is updated and modern, so it’s important to give your home a facelift with some new finishes. This can be as simple as painting the walls, updating the lighting, or installing new flooring. These types of updates are relatively inexpensive and can have a big impact on the perceived value of the home.
DON’T Leave the Home Un-staged
In today’s day and age, staging is a must. If the home’s furnishings are devaluing the price point, making it look darker or smaller, or giving it a dated look that differs from the up-to-date homes in the area, it’s time for a change. Homebuyers want to be able to imagine themselves living in the home and if they can’t do that, they will move on to the next house. Professional staging will help them see all of the potential in your home and make it more appealing.
We all want to make a good impression on whoever visits our home, especially if you’re planning to sell. But it’s important to keep in mind that not all homebuyers are looking for the same things. So, while you might want to make some upgrades or renovations before listing, be sure to do your research first and consider the ROI. Home staging is a great way to increase the value of your home without breaking the bank. And remember, keep it marketable!
If you’re still unsure about whether to renovate before listing, give us a call! We would be happy to help you figure out the best course of action for your home.
Happy Selling and until next time!