When it comes to selling your own property, you naturally want the process to be as simple, as quick, and as easy as can be.
But of course, life doesn’t always work that way.
Sometimes, in order to get the place sold for top dollar, you may need to do a little work to fix it up. That may mean some minor maintenance and repairs. Or, it may mean a full-scale renovation project.
Home renovations can often make your listing exponentially more appealing; in other words, a renovation can help you sell the place faster while recouping your investment. But in other cases, renovations may be unnecessary. Indeed, you may have no trouble at all getting the place sold without renovating.
In this post, we’ll share some tips for homeowners who are looking to sell, and who may be on the fence about whether a renovation project is truly necessary.
And remember, for additional insight into the best way to sell a house, you can always claim your FREE seller’s report from the experts at SOLD.com.
Is Your Home Move-In Ready?
The first question to ask yourself as you weigh the merits of home renovation: Is your place basically move-in ready, or would a buyer feel compelled to make a lot of changes?
Statistics show over and over again that most buyers prefer a place where they can immediately move in and get settled, without having to sink a lot of time or money into renovations.
Is there anything functionally wrong with your home? Or anything that you know buyers would have to fix before they move in, like nasty carpet, or a bathroom that hasn’t been updated in 40 years?
If so, then your hands might be tied: To get the place sold at a reasonable price, a renovation may be necessary.
Listing Your Home “As Is”
The alternative is to list your home “as is,” basically acknowledging that it needs a little work.
This option isn’t without merit. While most buyers want a place that’s move-in ready, there are some house flippers and DIY types out there who are looking for a project, and who will revel in the chance to make the property truly theirs.
What you have to remember here is that listing your home “as is” typically means a much lower asking price… so while you may get the place sold, you shouldn’t expect to make a ton of money off of it.
Not All Renovations are Created Equal
Maybe you’re in a position where you don’t feel like you have to renovate but want to do a little something to help the place seem fresh and new, or to distinguish it from other properties on the market.
It’s crucial to remember that not all home renovations are going to give you the same return on investment, and that it’s very possible to spend thousands of dollars without actually building any value into your home.
Often, the renovations with the most value attached to them are ones that are a little more modest in scale. For example:
- Minor kitchen renovations
- Minor bathroom renovations
- New or updated siding
- New front door
As you think about potential projects, don’t fall into the trap of thinking bigger is better; keep your plans more modest and you may see a better investment return.
You Can Make Your Home More Appealing Without Renovations
Sometimes, there are some much simpler steps you can take to increase the appeal of your home, without the need for a full-on remodeling project.
Some examples of this include:
- Updating the front landscaping
- Spending significant time decluttering and staging
- Repainting select rooms
- Replacing window treatments
These are all fairly low-key ways to impress buyers, and they’re certainly worth thinking about as you consider selling your own property.
Discover the Best Way to Sell a House
While you think about whether it’s right for you to renovate, make sure you have all the available data. Begin by claiming your copy of the SOLD.com seller’s report. In it, you’ll find independent advice for how to meet your real estate goals. Request your report from SOLD.com right away!