BE IN THE KNOW – Should I Renovate My Home Before I Sell It?
Some Highlights
- In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.
- With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house.
- Homes that are renovated to a high quality, better than average level and in neutral colors do command a lot of demand and quicker offer, but it may not always make sense to do the renovation and expect to recoup all of your cost or make a big profit.
- If you renovate it might not be to the taste of the next buyers, for example flooring, kitchen cabinets, etc. Someone may love the home but have different tastes in colors and finishes than what you chose.
- Some people do not want to buy a home that requires to many major renovations – like kitchens and full baths and flooring. So a renovated home is much more appealing to them than one that needs work. Others don’t mind doing home improvements.
- It depends on your cost basis and market for your home if renovated. But as the graphs above show, in todays hot market it may be better to just sell your home and skip the headache of the renovations, and cash in on the demand for your house.
- If you’re ready to move, let’s connect to determine your best next steps in this sellers’ market.
Keller Williams Realty Marco Island