Renovating to Sell?
I hear it all the time. People start a renovation just to sell their home. I am all about change, but when it comes to renovations of your home it is best to form a plan, compose a budget and stick to them. One project inevitably leads to another and, before you know it, the budget is blown, and that expensive renovation may not have made the intended impact on a potential buyer.
There are many inexpensive things to do that I truly believe will help add value and/or sell the home faster and at the best price.
My first recommendation is that any renovation should make sense financially; meaning you will make that money back at the time of sale or make it easier to sell if you are in a rush. An easy fix is a fresh coat of paint on walls and ceilings in a neutral tone or perhaps just one accent wall in the same hue. This effort will go a long way to freshen up the home and is an inexpensive improvement. As mentioned in a previous blog, DE-CLUTTERING all living spaces and a keeping to regular cleaning schedule are essential to making the home ready to show at the last minute.
Invest in some nice bedding that could brighten up any bedroom. If this bedding will not stay in the home, make sure it goes on the list of exclusions.
Kitchens and bathrooms are vitally important. Take a discriminating look around and see if appliances need to be updated, replace leaky or broken faucets, yet keeping to the budget. If replacing cupboards is not in the plan, perhaps invest in some nice handles for the cupboards and drawers of the kitchens and baths. This will give the cupboards a fresh look without breaking the bank. Ask your realtor their expert opinion if they feel a renovation would be beneficial. Ask your friends and family for their opinion and then make your own decision. Maybe the next buyer would rather have a nice discount to do their own renovations rather than paying a higher price. It’s human nature that everyone wants a deal, so the best advice is to take a step back and look at the home in the eyes of a buyer and not as the seller and then make your decisions.
By Lisa Torres