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Renovating for Resale
The weather is cooling off, the holidays are around the corner, and people are filled with a sense of coziness of the home. But maybe you have your sight set on a new home for next year’s festivities and you are thinking of marketing your existing home to sell this coming spring. As you look around your house and consider its features and selling points, you may decide to renovate during these cool months. If so, read on for some helpful Do’s and Don’ts of renovating your home for the purpose of selling it.
The first thing to know is that renovations do not always “pay for themselves” in the traditional sense of cash dividends. In other words, if you put $20,000 worth of work into your home, you may not necessarily sell the home for $20,000 above its existing value. While the appropriate renovations may or may not increase the value, they will improve the likelihood of selling the property, and selling it quickly. Most buyers want an updated home on which they will not have to do immediate work.
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