The question of whether you need to renovate before selling has plagued home sellers for about as long as the real estate market has existed.
When you are hoping to sell your home, renovations can make it more attractive to potential buyers while also possibly adding value to the property. On the other hand, these renovations will likely cost you more than the added value, which can lower your profit when you sell. The goal is to strike a balance between cost and potential return. Here’s a look at some of the most impressive yet cost effective renovations to do before selling.
Update fittings and fixtures
This is one of the least expensive ways to spruce up your home before you start showing it to prospective buyers.
A change as simple as putting new handles on your kitchen cabinets can have a major impact on your buyers. Although they may only notice the handles on a sub-conscious level, their overall impression of your property is likely to be much more positive if the fittings and fixtures are stylish and modern, rather than worn and out-of-date.
Remember, you don’t need to spend heaps of money on fixtures that you won’t get to keep. The idea is to improve the look of your home without it costing the world.
Focus on the kitchen and bathrooms
The kitchen and bathrooms are the most-used rooms in just about every home, so focus on these areas, especially if your budget is limited.
When renovating, think about form rather than function. Buyers will be much more excited about fresh paint in a kitchen than they will be about a new toilet. Of course, if your toilet doesn’t flush, it is probably a good idea to replace it, but if it is working just fine, your dollars will go much further in modernising the look of these rooms.
Be strategic when updating your kitchen or bathroom. Look for flat-pack joinery rather than going for a custom-built cabinetry. Shop around for bargains and research which materials look great while costing you less. If you have the skills and the time you can DIY, however be wary that doing a bad job is false economy.
Best of all, renovations in these areas tend to add the most value to your home, enabling you to recoup a lot of the money you have spent.
Less is more
Sometimes, when deciding what to fix before selling a house, less is more – less stuff, that is.
It isn’t necessarily about what you can add to the home, but what you can take away. Take the time to declutter so that buyers can see the property in the best possible light.
If you are having difficulty attracting buyer interest, it may be helpful to move some of your belongings out to a temporary storage unit while you are showing your home. This way, buyers can imagine their own furnishings in the space. As an added bonus, less furniture will also make the room look larger, which can be incredibly attractive to buyers.
At the very least, remove personal photographs and pictures from the walls. These make your home feel like it belongs to you – not a good thing when selling!
So, this brings us back to that big question: do you need to renovate before selling?
The answer will ultimately depend on the current condition of your home, the state of the property market, your budget and other factors. An experienced agent will be able to guide you, pointing out where improvements can increase value.
When you are ready to sell your home in Avalon or surrounding suburbs on the Northern Beaches, contact me and we can talk through recommendations based on my years of experience in the property industry.