Should You Fix Your House Up or Sell Now?

By
Real Estate Agent with Davidson Home Group | Keller Williams Portland Central

Photo: bergensrepairs

With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first time. The question inevitably arises: is it finally time to downsize?

If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. If you’re one of the many homeowners this camp, here are a few tips to help you decide which way to go.

1. Analyze Your Market

A real estate professional can help you to understand your market and the potential level of buyer interest and demand for your home. Are you in a seller’s market or a buyer’s market? This can change based on the price range of your home, too. A professional can also give you some insight on what you can change or remodel, and how to declutter your house to make it attractive to buyers in your area.

2. Get an Inspector

Right now, the average length of time a family stays in a home is between 9-10 years. That’s a little longer than the historical average, so if you’ve been living in your home for a while, it might be time to make some significant improvements. Think: electrical system, HVAC units, roof, siding, etc. An inspector can give you a better idea of the condition of your home, if it is up to current code standards, and recommendations on how to have your house ready before you put it on the market.

3. Decide If You Need to Remodel

You may also be thinking about driving buyer appeal with something like a kitchen or a bathroom remodel. If so, first dig into the market value of your home, and compare it to the actual cost of the remodel. A local real estate professional can help you determine your home’s market value, and you’ll want to get a few quotes from contractors on the potential remodel pricing as well. Once you have those two factors narrowed down, you can to decide if a remodel will give you a return on your investment when you sell. Oftentimes, it is actually more advantageous to price your house to sell, list it competitively, and then let the buyer pick the colors they want for their bathroom tiles and the type of countertop they prefer. The 2019 Cost vs. Value Report in Remodeling Magazine compares the average cost for remodeling projects with the value those projects typically retain at resale.

Bottom Line

Nationwide, inventory is low, meaning there is less than the 6-month housing supply needed for a normal market. This drives buyer demand, creating a perfect time to sell. If you’re considering selling your house, let’s get together to help you confidently determine what will be the best choice for you and your family.

We hope you found this information helpful. 

Contact us today for all your real estate needs.

team@davidsonhomegroup.com 

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Oh, by the way … if you know of someone who would appreciate the level of service we provide, please call us with their name and business number.  We’ll be happy to take great care of them.

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

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Rainer
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Susan Hale
Re/Max Realty of Defiance,Inc. - Defiance, OH
Re/Max Northwest Ohio Realtor

Nice Article!

For Remodeling vs Selling "As Is"  keep in mind basics that are minimal cost. Investing your time, Windex & paper towels goes a long ways.  CLEAN:  it is VERY important to present to buyers a clean, pleasant smelling home! Windex all windows inside and out, shine fixtures, sinks, flooring, front door threshold and mirrors.  Declutter by having minimal kitchen & bath countertop items visable, store away furniture placed in hallways/entry that obstruct easily room access, remove over abundance of wall & tabletop pictures-basically things that distract buyers from viewing the room sizes and overall appeal.  If you haven't washed or drycleaned your bedspread in a year that bed odor can overwhelm bedrooms.  Smoking and pet odors are negatives. Remove pets & pet dishes for showings (even if you're the best pet care givers and your house doesn't have lingering pet odors if buyers see pet items some automatically think $$ all floor coverings need replaced, turn and walk out). I notice dirty finger light switch plates - remove that sticky dirt. Replace burnt out light bulbs-buyers may think there are wiring issues. Outside trim bushes,  remove excess yard ornaments or items laying in the yard.  A tidy exterior helps driveby customers decide to preview the interior of your house.

Otherwise, minimal cost updates to consider: professionally paint old kitchen and bath cabinets, replace the knob hardware with tasteful modern choices, if budget allows replace the countertops, freshly paint interior walls a neutral shade, replace old worn curtains/drapes even if they aren't included, rent or purchase a room air cleaner but remove prior to showings, freshly paint the front exterior door for that walk up to the door entrance. Set outside a colorful potted plant on the porch.

Sep 24, 2019 01:56 PM #1
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Rainer
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Kurt Davidson

Gratefully Serving Greater Portland-Vancouver
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