When you finally make the life-altering decision to sell your house, you may feel an influx of overwhelming emotions. It is sometimes hard to decipher what exact steps to take when it comes to selling your home. We understand that there are seemingly many ways to go about getting the job done — but it’s important to be informed about successful renovation projects before selling your home to ensure that you get the best price for your house. We’ve compiled a list of commonly asked questions when it comes to renovating or fixing your house before selling:
Is It Worth Renovating a House Before Selling?
If you’re wondering whether renovations are worth the money spent because you’re going to sell your house anyway — you’re certainly not alone. This is an issue that most homeowners face when they’ve finally made the decision to place their house for sale. Here’s the reality of the situation: it depends on the current state of your house. Ultimately, it’s up to the homeowner (you) to make an informed decision when deciding whether or not to renovate certain aspects of your home.
You need to be honest with yourself when deciding to sell your house. If you know there’s a certain part of your house that may deter potential buyers — you should consider renovating that part of the house before selling. Sometimes it only takes one little part of a home that is lackluster to push potential buyers away.
It’s important to keep in mind that you’re trying to sell this home. You don’t need to renovate the entire house — the goal is to renovate the aspects of the house that may raise red flags for potential buyers. It’s worth renovating parts of your house that are not extremely costly but still make quite the difference aesthetically.
What are the Best Updates to Sell Your Home?
The best updates to sell your home are the updates that are worth the investment. You should not consider altering anything that is a major project because you’ll likely lose money. You should update things in your home that will add interest or value.
Typically, kitchens and bathrooms are the best areas to update before placing your house for sale. Real estate professionals have come to the agreement that these areas are the most important areas to consider renovating because they’re really important areas that attract potential buyers.
Potential buyers will often calculate what they feel the renovation costs would be if they decided to buy your home; they will weigh out the pros and cons before deciding whether the potential renovations are worth it to them. You have a much higher chance of selling your home if you don’t have many old places in your home that look run-down or out of place.
It’s really incredible how much of a difference small renovations will make — small renovations will really go a long way for someone attempting to sell their house. Placing a fresh coat of neutral paint on walls or kitchen cabinets will make your home appear much more ready to be placed on the market. While painting your house is a simple step, it really will make quite the difference when a potential buyer steps foot into the home.
What Should I Not Fix When Selling My House?
When deciphering what you should fix before you sell you home, it’s important to determine the return on investment for each potential project. Here’s some interesting information from The Spruce:
An upscale major kitchen remodel has a return on investment (ROI) of less than 60 percent, while a mid-range minor kitchen redo can return about 80 percent. Bathroom remodels return about 62 percent for upscale renovations and about 67 percent for mid-level remodels.”
You should never fix something if you will not see the money back when you sell the house. It’s also important to note that you should consider what other houses look like on the market that are priced around the price you hope to sell your home. When you choose to remodel certain aspects of your home, you should always attempt to adhere to the taste of your local housing market — not your own. Here’s the bottom line: do not fix things in your home that do not add value or interest.
Should I Update my Kitchen Before Selling?
The kitchen is arguably one of the most important rooms in every home. Buyers will often choose whether or not to buy a home based on the kitchen. You can make a difference in the aesthetics of your home if you replace old countertops. Countertops can make a kitchen appear much more modern — despite the low cost of the renovation.
Here’s another great “renovation” to consider: simply repaint your cabinets so they look nice and modern. Adding a fresh coat of neutral paint will make buyers feel a lot more comfortable in the home (and that’s exactly what you want). If you can afford to make small updates to your kitchen, it’s recommended because you have a higher chance of selling your home.
Too Many Repairs?
Sometimes you simply have more than a few small repairs that need to be done before placing your house on the market — and that’s okay because that’s life. A cash home buyer can take away all of your worry because they will buy your home as-is.
Whether there are just an overwhelming amount of repairs or you simply don’t want to deal with all of the headaches that come with placing your house on the real estate market, cash home buyers will take your home off your hands by paying in all cash.
You won’t need to worry about renovations, repairs, or the stress of placing your house on the market if you choose to go with a cash home buyer. You can simply walk away from the tedious house project with a considerable amount of cash in your hand. Ultimately, the choice is up to the prospective seller as it’s a very personal and important decision — choose the route that’s best for you when deciding how to go about selling your home.