Why Should You Renovate Your House Before Selling It
There’re a million things to think about when selling your home. One particular debate you’re probably having with yourself is whether or not to renovate your house to stand out in the competitive Bucks county, Philadelphia or surrounding area’s real estate market.
Renovating your home before selling has its benefits and drawbacks, but if you’re smart about your renovation spending, the former should outweigh the latter. Read more to learn why you should renovate before selling.
Buyers Want Move-In Ready Homes
Buyers don’t have the time, energy, or skill to renovate their new home like they used to. In addition, they aren’t as willing to spend tens of thousands of dollars on a down payment for a house if they’ll soon have to spend even more on remodeling.
Yet there is a shortage of homes these days, so they may not have many options for move-in ready homes — which provides you a fantastic opportunity.
You’ll have a move-in ready home among a shortage of available houses. Buyers may be willing to pay a high premium if it means they can finance said premium through their mortgage instead of spending the money in cash for remodeling.
Breakeven Renovations Can Still Help
It may seem pointless to perform more expensive renovations, such as kitchen remodels, to sell your home. The tremendous cost will offset any increase in home value, right?
Partially true, depending on your remodel budget. If remodels will put you drastically in the hole, they may not be worth it.
However, consider this: the longer your home is on the market, the more wary buyers become of it. As a result, you’ll have to decrease your sales price and profitless.
Your Renovations Can Be Simple
Gutting and redoing an entire room you’d like to remodel isn’t necessary to sell your home. You can cut costs and simplify things with the right changes.
For example, you can repaint your cabinets and replace your countertops in your kitchen. Doing so will freshen the kitchen for a relatively low cost.
Or perhaps you want to renovate your bathroom—no need to go all-out, as it could even be off-putting to buyers. You might only need to replace your vanity’s countertop, for example.
Renovations can make your home much more attractive to buyers, meaning both a faster sale and a higher sale price to offset the remodeling costs potentially.
As you can see, renovating your house will help you find a buyer and put a lot of extra money in your pocket — but you should also stage your home. Staging your house for sale helps the buyer visualize themselves living there, making selling easier.
Staged homes sell 73% faster and for 6% more than their non-staged counterparts. If your home is worth $200,000, that’s an additional $12,000 for you.
If you’re looking to stage your Philadelphia, Bucks County, and the surrounding area home, contact R&R Design. Our unique mix of vibrant colors and modern accents has helped our clients gain eager buyers that were willing to pay more for their homes in the competitive real estate market.
Ready to make more money from your home? Contact R&R Design today to get your free quote!