Should you renovate before Selling?
This is a question that I get asked frequently from sellers as I’m sure other Real Estate Professionals do as well.
Take a cue from the Scott Brothers; Drew & Jonathan on the HGTV hit show, "Property Brothers" who are taking on new renovation projects each and every episode, for both homes being sold and the homes being purchased.
First and foremost, you should educate yourself about the current marketplace in your area, and the competition.
In my personal experience, most Buyers do not want to buy a fixer-upper and if they do, they only want to purchase the fixer-upper at a substantially reduced price.
Buyers are looking for “move-in ready” homes and will pay top dollar for them.
So my answer would be “Yes” if done correctly you should update and moderately renovate to make your home more appealing to Buyers.
Here is a list of my suggested updates and renovations to consider prior to selling:
- First and foremost clean, clean, and clean everything
- Paint entire home, inside and out using a fresh color palette that is both current and appropriate for your market
· Remove old outdated wallpaper and wall treatments.
· Replace bathroom & kitchen faucets
· Update the kitchen - At the minimum paint, stain, or replace old cabinetry
· Replacing countertops might be required to get top dollar and compete with the competition in your area
· Replace cabinet hardware – possibly add under counter lighting – accent moldings
· A new appliance package – All Stainless Steel - What about the sink?
· Replace old worn flooring – refinish hardwood floors, remove wall-to-wall carpeting
· Replace outdated light fixtures – dropped ceilings, fluorescent lights all date your home
· Remove all window treatments and check windows thoroughly. Replace any broken windows or those that are not working properly – Let the light in!
· Maximize your space – both inside and out
· Clean out and paint closet interiors
· Replace or update outdated door hardware
· Create outdoor living spaces – most buyers want outdoor living areas today
· Pressure clean every area outside including driveways, walkways
· New fresh colorful Plantings, and mulch – Trim overgrown hedges, bushes, trees that block the house - Take a cue from new homes in your area
· Update your Front Door – Replace if necessary or repaint and add new hardware
· Replace lighting around your Front Door & Garage
· Garage Update – Replace or paint to coordinate with your new color scheme
· Depersonalize, and declutter the home completely
· Clean out the garage – paint the garage floor
· Make all necessary repairs prior to any home inspections
· Bathrooms need updating too. Replace or remove old shower doors, old faucets, mirrors, and lighting as well as a complete assessment of the cabinetry, counter tops, sinks, toilets etc.
One way or another, you will pay for these necessary renovations and updating...
Either beforehand, or by Buyers discounting their Offers on your home.
The first step should be to consult with a licensed and experienced Real Estate Professional in your marketplace to compare your home to recent homes sold, and the competition currently on the market.
They will be able to advise you as to what renovations will pay off, and make appropriate recommendations.