If you are a Lewiston Auburn Maine property owner who is seriously considering whether to sell your house, you know there are many practical details that bear careful consideration. One of the first is the decision regarding whether or not -- and if so, to what extent - refurbishing or upgrading the property will be a sound financial strategy.
The first and most obvious advantage of making home improvements before you sell your house is that it will be more marketable in a highly competive market! You can be sure that it will become more attractive to potential Lewiston Auburn Maine buyers. A house that clearly signals the need for after-purchase repairs can be expected to below market offers, which may be exaggerated (or even wildly exaggerated due to ‘fear of the unknown’). On the other hand, a well cared-for home in move-in condition can be your biggest weapon in countering any Lewiston Auburn Maine Short Sales and foreclosure properties that might weigh in the opposite direction. Setting your home apart from the crowd can be a shortcut to a quicker sale. It’s still “A price war and beauty contest” at the same time and a challenging balancing act!
The ultimate advantage to making improvements before listing a Lewiston Auburn Maine home for sale is the lure of earning a higher price. A renovated house just feels like new to potential buyers. Fresh renovations justify a higher value to any property -- much more so than had you left those questionable white shag carpets in the family room!
On the other hand, a disadvantage to consider is the fact that making substantial home improvements before you sell your house could result in a measurable time delay. Home improvements that were expected to take weeks but actually require months to complete can result in a delayed listing date. It’s important to consult a Lewiston Auburn real estate professional to explore whether the market is appreciating or declining to understant the impact time has on your strategy as well as whether or not your improvements will add more value than cost in the sales price.
The greatest unknown in considering the advantages and disadvantage of doing home renovations before you sell your house is the impossibility of precisely predicting the bottom line resale value of the improvements. You may recall stories from others about the profits they made after a quick remodel or a “flip”. It doesn’t happen all the time or even most of the time.
The good news is that careful consultation with a qualified agent before you start a renovation campaign can reap concrete results. As experienced Lewiston Auburn agents, The Tanya Busch Team knows what repairs and improvements will make you money or cost you money. If you have been considering a renovation before you sell your house in the Central Maine market, please don’t hesitate to contact me to schedule a no-obligation consultation.
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