Should I Renovate My Home Before Selling?

One of the most frequently asked concerns about selling a home is whether or not you should improve it first. Sure, you'd like to recoup your investment. However, the truth is that the "correct" answer is tricky because certain upgrades will never increase the value of your home enough to pay for themselves. When it comes to the question, "Should I improve my property before selling?" here's what you need to know.

What Are the Desires of Home Buyers?

People who want a move-in ready home and people who want to fix or flip the property are the two major sorts of buyers you'll encounter.

A move-in ready home costs on average $250,495. A fixer-upper, on the other hand, costs an average of $199,819, a difference of $50,676. Home flippers and purchasers searching for a move-in ready house (or buyers who wish to witness renovations) are looking for different things.

Saving money is the most important factor for home flippers. Many people who wish to fix up or flip a house appreciate the house and the neighborhood, and some even believe they'll enjoy working on it.

When it comes to selling your property, you should plan your renovations depending on the type of buyer you want to attract. You must make preparations based on your:

Timeline Budget Intention to List Price

In other words, if you plan to move in a month, you might not want to start a total kitchen redesign. Similarly, don't expect to get the same price for your fixer-upper property as the perfect, move-in ready home next door.

Before you renovate, there are a few things you should think about.

Before deciding whether or not to renovate your home, keep the following in mind:

1. Which upgrades are worth the money? Updating your interior paint, touching up your landscaping, renovating bathrooms, rebuilding your kitchen, and boosting energy efficiency are the most high-return home value additions you can make to your property.

2. Which enhancements will give you the most bang for your buck? You should also think about the following improvements, which will give you the most bang for your buck: Increasing energy efficiency, upgrading the façade, budget-friendly kitchen and bathroom remodels, painting, flooring repairs, and increasing space are all things that can be done.

Property Listing Timeline

The number and scope of your remodel work are determined by the schedule for advertising your home. How much time do you have before you make a decision? If you don't have much time, have a look at our list of quick-fix projects, each of which can be completed in a weekend:

Rooms should be painted.

Crown molding should be added.

Rewire a front door light

Paint old flooring to make it look new again.

Invest in inside shutters.

Kitchen cabinets should be painted.

Make your deck more appealing.

Long-term renovation projects may necessitate hiring a contractor over a period of several weeks:

Basement renovation (8.5 weeks)

Remodeling a kitchen (6 weeks)

Installation of custom cabinets (5 weeks)

Changes in the bathroom (4 weeks)

Deck construction (2.5 weeks; weather permitting, it may take longer)

Installation of roofs (1 week)

In other words, if you want to sell your house in six weeks, you might be able to get away with a kitchen remodel but not a full basement renovation. Consider the benefits and drawbacks of each remodeling option before making a decision.