⚒️ Should you make renovations before putting your home on the market for sale?
Many sellers try to figure out how to make the most money when selling their home with a real estate agent. Although certain factors, such as location of your property, market conditions and the Realtor you work with, undoubtedly have an impact on your ability to sell. The conditions of your house is most important.
Without a doubt, a home with a dated kitchen and bathrooms is going to sell for less than one that has recently been renovated. The question that sellers is debating on whether or not it is worth to put money into renovations, so that you can sell your house more quickly or for more money. Unfortunately, there is no clear answer that will hold true for every seller. Still, here are a few tips to consider when deciding how much money to put into a home that you (hopefully) aren’t going to be living in for much longer.
Minor changes can make a major difference
Try to put yourself into the shoes of a prospective buyer. If your house is in fairly good condition, then minor problems might suddenly become obvious issues. It’s almost always worth it for seller to invest in a new paint job. It’s amazing how much difference a fresh coat of paint can make, especially if you cover up cracks or holes in the walls using spackle before you paint. Even if you see nothing wrong with your walls, ask yourself whether the colors you’ve chosen will be appreciated by most sellers. If not, repaint in neutral tones to increase your chances of pleasing as many people as possible.
Small details like cracked tiles, broken mirrors, or leaky faucets in your bathrooms or kitchen may have never really bothered you as a homeowner, but potential buyers will see them as possible deal breakers. Spending the money to replace anything that is broken will almost always be worth it. After all, the buyer will probably ask seller for repair after the inspection anyway.
Consider to have a bathroom re-tiled or at the very least replace the grout. You should also put in new layers of caulk around tub and sink fixtures. These little improvements can go a long way.
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Decide to invest a little more if advised
You should trust your own instincts and-or advised by your Real Estate agent if you get the impression that your home could use a little more work than just covering the basics. Perhaps you have old carpet with hardwood floors underneath. Hiring someone to rip it up and then polish the floors could lead to increased interest in your home.
It may also be a good idea to do a few renovations on an extremely dated bathroom or kitchen. Replace cabinet doors or install a modern sink to make the room feel updated without really spending too much money. You may also find that replacing old appliances with mid-range new options will impress buyers. The point is to make cosmetic fixes without spending too much money in the process.
Avoid major renovations most of the time
Convinced that you’ll make back your investment if you spend the time and money to make major renovations? You may be setting yourself up for disappointment. In reality, most sellers only make back about 50 percent of the money they put into renovations when they actually make the sale. You also run the risk of alienating some buyers who aren’t happy with an ultra-modern bathroom or don’t like the color of the granite you chose for the kitchen counters.
Conclusion
Most professionals advise against making major changes unless your home is in really sorry shape as is. Even then, consider the cost of renovations against the price your house could get, if you sell it without making changes. Although you may not be entirely happy with a lower list price, odds are you would end up spending that much (or more) by investing money into a house you’re trying to get out of anyway.
Selling your home in Phoenix AZ
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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