To Renovate or Not Before You Sell

Homeowners often feel they need to get their house ready with some remodeling before thinking about selling.  Yes, remodeling may make your home more appealing to buyers but competing for available homes right now, renovations may not be as vital as they would be in a more normal market.

Here are two things to keep in mind if you’re thinking of selling this season.

  1.  When buyers are scooping homes up as fast as they’re listed, spending costly time and money on renovations just might mean you’ll miss your key window of opportunity.  While certain repairs on your house may be important, your best move right now is to speak with your real estate agent to determine which improvements are truly necessary and which ones are likely to be deal breakers for buyers.  Today many buyers are more willing to take on home improvement projects themselves in order to get the home they’re after, even if it means putting in a little extra work.
  2. Focus on getting a good return on your investment.  When planning bigger projects to tackle, you and your real estate agent may want to discuss the potential return on your investment and if those projects are worth the cost.  Granted, some homes do need a kitchen, bathroom renovation, roof repairs or other major work, but definately not all of them.  You might be surprised by how well your house could fair in today’s sellers’ market.
  3. The bottom line is, we’re in a strong sellers market and that means you (the seller) have the leverage to sell your house on your terms.  Talk with your real estate professional to determine if renovating is really the best way to spend your time and money before you sell.