Should homeowners renovate their homes prior to selling?
Should you renovate or update your home before selling it?
The simple answer to this question is no, you really don’t need to. Right now, the market is too hot for those kinds of expenses, and there are other things for sellers to do with the homes that will put them in their best light:
1. Declutter. You might be used to living amongst all your stuff, but other people won’t enjoy seeing it in person or in photos. We can set up a consultation to go through your home and give you advice about what you should box up or get rid of so that your home looks neat and tidy.
2. Deep clean. Clean your floors, carpets, walls, and windows inside and out to help your home shine.
3. Staging. We can also recommend strategies to help you stage your home to look its best before you list it for sale.
4. Curb appeal. Sprucing up the exterior of your home will go a long way in helping people connect with your property.
We also highly recommend that all our sellers get a pre-home inspection. Normally when sellers put their homes up for sale, a buyer comes along and makes an offer but doesn’t really know if there’s anything wrong with the property, which can cause feelings of uncertainty. A pre-inspection can do away with that uncertainty.
For just a couple hundred dollars, one of our preferred vendors can come in to do an inspection before you put your home on the market. That way, you’ll have a full report to show the buyers, which will give them a better picture of what they’re buying. As the homeowner, you’ll also want to know if there are major issues anyway. Once any major issues are taken care of, buyers will have no reason not to put forth their highest and best offers first.
Granted, some sellers are very set on updating their homes. My advice is that if you’re planning to stay in that home for at least another three years, go for it. You might be surprised, however, to learn which renovations have the best ROI (besides the kitchen and bathroom):
• Curb appeal. Painting your home, installing new siding, putting in a new roof, or even putting insulation in the attic are all projects with a high ROI.
• Deck additions. Everybody was so used to being crammed inside during the pandemic that having ample outdoor space became very valuable for both buyers and sellers.
• Master suites. Some homeowners have more bedrooms than they need. With the right floor plan, you could potentially open up a bedroom and make it into a master suite. If you can open up a master bathroom as well, I promise that you and your next buyers will enjoy it.
• Upgraded technology. Home automation and smart devices that help the home function easier are hot items among buyers right now.
Ultimately, if you want to know if renovations and upgrades are a good idea for your situation, the easiest way to find out is to reach out to us. We’d be happy to help answer your questions.