Home Renovations Before Selling: Do Or Don't?

Probably the most common questions sellers grapple with before listing their house for sale is: should I or shouldn't We renovate?

For some sellers, remodeling is the key to selling their home, while for other sellers, home renovations before promoting are simply a waste of time and money. However, there are a few questions you can ask yourself to determine if home renovations before selling are ideal for you:

What are the comparables in my area?

The easiest method to determine whether you should renovate your house is by simply studying the comparables in your neighborhood. With the help of your real estate agent, evaluate other similar homes which are either currently for sale or even have recently sold.

It might be quite worthwhile to take a walk through a few homes in your neighborhood that are for sale as well as study the competition. If the majority of the homes for sale in your neighborhood possess updated kitchens, and your home does not, chances are it will be worth the investment to renovate your kitchen area so that you can remain competitive in the local market.

What room will i want to renovate?

Most real estate agents will tell you that the value of home renovations before selling may largely be determined by the room you choose to renovate. The two most popular areas to renovate - and the two rooms of the home that you are most likely to see a return in your investment - are the bathroom and the kitchen.

Both of these rooms remain a large motivating element among buyers for purchasing a house, so it only makes sense to concentrate on these rooms. Additional rooms in the home, such as the family room or the bedroom, for example, might not show you as large of a return on your investment as would the master bathroom or the kitchen.

How time-consuming or difficult would a renovation be to accomplish?

Most sellers would concur that home renovations can be a headache. Therefore, consider the time it would take to complete the renovation and the difficulty of the renovation. If the renovation entails gutting a kitchen, for example, wouldso would that impact your household and what length of time wouldn't it take to complete? Remember: just about all factors must be considered whenever deciding whether or not to renovate.

Does the cost of the renovation outweigh what I could sell my personal home for?

The bottom line, obviously, is money when it comes to deciding whether or not to take on home renovations before selling. Even if other homes in the neighborhood possess updated kitchens, your kitchen renovation should never be completed unless you can be sure you'll see a return on your dollar. For most sellers, it simply doesn't make financial sense to complete a remodel if you won't see a return on those renovations dollars in the sales price of the home.

by: Bo Kauffmann

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