Tuesday, February 15, 2022 / by Raj Jaggi
If you're hoping to sell this year, you're undoubtedly considering what you'll need to do to prepare your home to appeal to the full range of buyers. To get your property ready to sell, you'll need to engage with a reputable real estate agent who is familiar with the local market. However, there are a few things to think about when determining what to renovate and upgrade before putting your home on the market this season. Here are three things to keep in mind as you make your project list for the coming year.
However, you'll want to do it while purchasers are still snapping up homes as quickly as they're advertised. Spending time and money on renovations before selling could mean missing out on a vital selling window. Of course, some repairs are important or even required. Working with a real estate professional to identify which renovations are actually needed and which ones aren't likely to be deal-breakers for buyers is the best method to evaluate where to spend your time – and money.
“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”
If more purchasers are ready to do their own repairs, it can be a good idea to let the future homeowners rebuild the bathroom or kitchen so that they can make design decisions that suit their tastes and lifestyle. Depending on the structural state of your property, you could be better off focusing your efforts on minor cosmetic updates such as freshening up the paint and power washing the exterior to make it stand out. Working with a real estate specialist to establish the main improvements to undertake that will offer you the most return on your investment is a better option than over-investing in upgrades, which the buyer may modify regardless.
“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”